Oct 19, 2020  
2020-2021 Catalog 
    
2020-2021 Catalog

Financial Aid


CMC’s Federal School Code is 004506.

Colorado Mountain College is committed to equal educational opportunities for all students.

Financial Aid Specialists are available at campus locations to assist students with financial aid information, application procedures, and other related issues. For general questions or to have an outside scholarship sent to CMC, please use the contact information below:

Colorado Mountain College
Office of Financial Aid
802 Grand Avenue
Glenwood Springs, CO 81601
800-621-8559
Email: finaid@coloradomtn.edu

See our quick and indexed source of information at coloradomtn.edu/financial-aid.

Overview of Financial Aid

Financial aid is money that is given or loaned to enrolled students to help them pay for school expenses, including tuition and fees, room and board, books and supplies, and transportation. This money can be in the form of:

Gift aid such as state or federal grants, private or institutional scholarships.

Self-help aid such as loans that need to be repaid, or work study, which is campus employment and must be earned.

Colorado Mountain College offers a variety of financial aid award types including, federal, state, and privately-funded grants, over 400 scholarships, work-study opportunities, and several loan options.

Financial Aid Application Process

Complete the Free Application for Federal Student Aid (FAFSA) online. The application opens each October 1st. Students must also have a valid CMC admissions application on file to be considered for financial aid.

Students who are eligible for in-state tuition under ASSET, and ineligible to submit the FAFSA, may qualify for state financial aid if certain criteria is met. Students should meet with their Financial Aid Specialist for details.

For FAFSA completion, all students, and at least one parent of dependent students, are required to create an FSA ID, a unique username and password. When completing the FAFSA, students should enter CMC’s Federal School Code 004506 in order to have their results sent to CMC. Students are encouraged to use the IRS Data Retrieval Tool (DRT) within the application to electronically transfer their tax data from the IRS directly into their FAFSA.

If a student’s application is selected for verification by the Department of Education, the student and/or parent of a dependent student will need to submit all required documentation before receiving an award package.

All communication regarding a student’s financial aid status or award notifications will be sent to the student’s CMC email address. it is critical that students monitor their CMC email account consistently throughout enrollment at Colorado Mountain College.

Students may submit a Special Circumstances Appeal to the financial aid office for review if they feel their family’s financial situation is not accurately reflected on the FAFSA due to special circumstances such as death, divorce or separation, disability, loss of employment, etc.  

Financial Aid Eligibility

In order to be eligible for Financial Aid, a student must:

  • be a US Citizen or eligible non-citizen.
  • have a high school diploma or GED.
  • enroll in courses that will be applied to program eligible for financial aid. Bachelor and Associate level programs are financial aid eligible, but certificate programs’ eligibility varies. Exceptions exist for certain remedial courses.
  • Males must register for Selective Service.
  • be in good standing with all previous borrowed Federal Student Loans.
  • “Undeclared” is not an eligible degree program. Meet with a College Counselor or Academic Advisor at your campus for assistance.

Disbursement of Financial Aid

Financial aid funds are transmitted and applied directly to CMC student accounts approximately ten days after the start of each term*. If a student’s total financial aid award is less than institutional charges, the student is responsible to pay the remaining balance or set up a payment plan through the Student Payment Center on Basecamp.  Failure to make such arrangements before the payment deadline may result in the student being dropped from their courses.

* Disbursement dates can be affected for a variety of reasons including late-starting classes and a student’s status as a first-time loan borrower. First-time borrowers are subject to a 30-day delay for disbursement of loan funds. Single term loans are disbursed in two payments: two weeks after the start of the semester and at the semester mid-point.

Excess funds will be refunded to the student through direct deposit or check.

Award Types

Grant Programs

CMC has a variety of federal, state, and private grant funds available to students. Submission of the FAFSA application allows students to be considered for these funds*. Award amounts vary based on financial need, enrollment status, and availability of funds. Grant funds are gift aid and do not need to be repaid.

*Students who are ineligible to submit the FAFSA and are eligible for in-state tuition under ASSET, may be eligible for state-funded grants if certain criteria is met. Students should meet with their Financial Aid Specialist for details.

Scholarships

Colorado Mountain College Foundation Scholarships

The Colorado Mountain College Foundation offers over 400 scholarships. To be eligible for these scholarships, students must be enrolled in a CMC degree or certificate program.

Colorado Mountain College President’s Scholarship

The President’s Scholarship is a $1000 tuition scholarship available to recent graduates of qualifying local high schools or GED/HSE completers.

Work Study Programs

Work study programs help students earn financial funding through part-time employment. Work study funds are limited and are awarded on a first-come, first-served basis to eligible students. These funds must be earned by working part-time at an approved position. Interested students should submit the FAFSA for eligibility to be determined.

*Students who are ineligible to submit the FAFSA and are eligible for in-state tuition under ASSET, may be eligible for state-funded work study if certain criteria is met. Students should meet with their Financial Aid Specialist for details.

Loan Programs

Colorado Mountain College participates in the Federal Direct Loan Program, including undergraduate Federal Direct Subsidized and Unsubsidized loans and Federal Direct Parent PLUS. Award amounts vary based on financial need, student grade level, and student dependency status.

Please note that all funds disbursed under the Federal Direct Loan Program, plus any applicable interest, must be repaid.

Adjustments to Financial Aid

There are a variety of circumstances that may require an adjustment to a student’s financial aid award. Students should understand how dropping and adding courses, receiving other aid, or corrections on their FAFSA will impact their aid. Contact the Financial Aid Specialist at your campus.

Demonstrating Satisfactory Academic Progress

Students receiving federal and/or state financial aid funds are required to maintain Satisfactory Academic Progress (SAP) standards as defined by the Department of Education. These standards ensure students are making satisfactory progress toward fulfillment of their degree program requirements. In addition to maintaining a minimum cumulative grade point average of 2.0, students must also maintain a minimum cumulative completion rate of 67%.

In addition to these standards, students are required to complete their degree within a defined maximum time frame, defined by the Department of Education as 150% of the required credits for degree completion. It is important to note that all periods of enrollment will be included in this calculation. This includes credits attempted for dual enrollment, transfer credits, failed, dropped, or incomplete credits and repeat or remedial credits.

Students failing to meet these established standards may lose financial aid eligibility.

Reestablishing Financial Aid Eligibility

A student placed on financial aid Termination may have the option to submit an appeal for consideration of reinstatement. Speak to the Financial Aid Specialist at your campus regarding the appeal process. Financial Aid appeals will be reviewed by the Office of Financial Aid and a determination made regarding reinstatement.

Returning Title IV Funds

When a student withdraws from CMC after beginning attendance, federal regulations require that the school calculate the amount of Title IV aid a student is entitled to receive. The Title IV programs that are subject to this requirement include Federal Pell Grants, Direct Loans, Direct PLUS Loans, and Federal Supplemental Educational Opportunity Grants (FSEOG). These calculations may result in funds being owed to the Department of Education by the student, the school, or both.

 

 Veterans’ Benefits

Colorado Mountain College honors those who served our country in the military. Veterans, active-duty military, their spouses and dependents (under 23 years of age) may be eligible for a tuition discount.

Most certificate and degree programs offered through Colorado Mountain College are approved for veterans’ education benefits.

Because the application and approval process takes an average of 60 to 90 days, be prepared to personally meet all educational and living expenses for at least three months.

All students receiving assistance from the Veterans Administration and/or state funding agencies must comply with current regulations, including regulations related to satisfactory course progress, attendance, and reporting of previous educational training to the funding agency.

The Veterans Administration approves work experience courses for V.A. Educational Benefits only if the course is required of all students earning the specific degree or certificate. Please be sure to read the degree/certificate requirements carefully. Please visit the Veterans page for further information on Veterans’ Services. You may also email military@coloradomtn.edu or call (970) 947-8358.