Affordability Plan - Colorado College

A Four-Year Commitment

The Colorado College affordability plan is the result of an individual review of the information you and your parents submitted when you applied for financial assistance. We encourage you and your family to use this four-year affordability plan as a financial planning tool for your undergraduate career at Colorado College.

What is a CC affordability plan and what does it mean to have a four-year commitment?
Your financial aid award will indicate if the award is a four-year affordability plan or if it is a more traditional one year award. In most cases we provide a four-year affordability plan, which means that we will renew the total value of your Colorado College grants and scholarships annually at the same level as your final offer of financial aid. The affordability plan will assist your family as you plan college financing during your four consecutive undergraduate years at Colorado College. We will need you to re-apply each year with the FAFSA to determine your eligibility for federal and state aid (federal and state grants, loans, and work study). Your loan amounts may increase slightly each year based on the additional federal loan amounts available and your family's need. You must be a full-time student at CC and remain in good academic standing to receive Colorado College funds all four consecutive years. You may take a leave of absence up to one semester without it affecting your eligibility for renewal of the CC grant or scholarship funds. If your family's financial situation changes significantly at some point, you may submit additional information to the financial aid office as an appeal.

In some instances we determine that a student is eligible for Colorado College funds but we are unable to provide a four-year affordability plan. In these cases the award letter will state that the award is a one year award, and our office will require a new application each year to re-determine aid eligibility in these cases.

My family will have other children in college while I'm attending CC. How does this affect my four-year award?

If your family has other children enrolled in undergraduate college during the 2011-12 school year (usually older siblings), we have taken this into consideration when preparing your award. We have factored the number of years of concurrent enrollment for you and your sibling(s) into your award. If you have a four-year award, we will renew the Colorado College scholarships and grants each year over your four years at CC at the same dollar amount as your initial financial aid award. During the time when you overlap enrollment with your sibling, the overall college costs may require an extra effort for your family. However, during the time when you are the only child enrolled in college, the CC funds will not decrease for recipients of four-year awards.

If your family has other children (usually younger siblings) who may enroll in undergraduate college after the 2011-2012 academic year, we have not factored their concurrent college enrollment into your award. It is simply too difficult to predict what type of college, if any, they will attend. Your family may submit an appeal to the financial aid office to consider a change in your award should you have siblings who enroll in college after the 2011-12 school year.

How does Colorado College deal with outside scholarships?

Private scholarships received from organizations other than Colorado College will not reduce the college's commitment of grants and scholarships unless the total of the CC grants and outside scholarships exceeds the cost of attendance. If the amount of the outside scholarship causes your total award to exceed the amount of your federal aid eligibility, we must reduce the amount of federal and state loans, work-study, and/or grants so that the total does not exceed the limits according to the appropriate federal regulations.

Can I receive financial aid to study off-campus?

You may use your financial aid award for off-campus study programs operated by Colorado College or jointly by the Associated Colleges of the Midwest (ACM) or CC Affiliated Programs. Adjustments to your award may be necessary due to the lower cost of some off-campus study programs. You are not able to use any CC grant or scholarship awards for non-CC or non-ACM affiliated programs. It is possible, however, to receive Federal Pell grants and other federal grants, Stafford loans, Perkins loans, other alternative loans, and PLUS loans for such programs. The financial aid office is always eager to discuss the financial options available to you for off-campus study programs.

What else should I know about the CC affordability plan?

Nearly all affordability plans include loans and student employment (self-help assistance). The proportion of CC grant assistance and loans and employment is based on financial aid eligibility and your admission credentials. Depending on your federal eligibility as determined each year, we anticipate that the value of your self-help assistance should remain relatively constant during your four consecutive years. We strongly encourage you and your parents to read the Financial Aid Policies Handbook. This handbook includes the cost of attendance, an explanation of the methods used to determine your eligibility for aid, the steps necessary to apply for Stafford loans, information on alternative financing options, and much more.

Our staff in the Financial Aid Office is ready to answer further questions about your CC affordability plan and financing a college education. We do not negotiate awards based on comparisons with other colleges, but will review special circumstances and new information not included on your original application. We hope to see you as a student at Colorado College.