Apr 24, 2024  
2023-2024 Catalog 
    
2023-2024 Catalog [ARCHIVED CATALOG]

Financial Aid



CMC’s Federal School Code is 004506.

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

Our Financial Aid Specialists serve all campuses and are available to assist students with all Financial Aid inquiries. This includes the FAFSA or CASFA application, completing requirements for aid, and any other general questions. Please reach out if you have questions or would like to schedule a time to meet with us. We are available by phone, email, or virtual appointment. See the CMC Financial Aid - Contact Us page for more information. 

Any outside scholarship checks should be mailed to our Central Services location:

Colorado Mountain College
Office of Financial Aid
802 Grand Avenue
Glenwood Springs, CO 81601
(970) 947-8322
Email: finaid@coloradomtn.edu

See the CMC Financial Aid Policies page for more information. 

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, and 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 500 institutional scholarships, work-study opportunities and several loan options.

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 consistently throughout enrollment at Colorado Mountain College.

Financial Aid Application Process

Complete the Free Application for Federal Student Aid (FAFSA) or Colorado Application for State Financial Aid (CASFA) online. These applications open each October 1st. Students must also have a valid CMC admissions application on file to be considered for financial aid.

For FAFSA completion, all students, and at least one parent of dependent students, are required to create an FSA ID with a unique username and password. When completing the FAFSA, students should enter CMC’s Federal School Code 004506 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.

NOTE: 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.

Students who are eligible for in-state tuition under Colorado ASSET, and for those without lawful immigration status, who are ineligible to submit the FAFSA, may qualify for state financial aid if certain criteria are met. Any student ineligible to complete the FAFSA is encouraged to apply for this aid by submitting the Colorado Application for State Financial Aid (CASFA).

For CASFA completion, all students are required to create an account on the Colorado Department of Higher Education website prior to starting the CASFA. For dependent students, at least one parent’s electronic signature is required prior to submission of the State Application (parents do not need to create an account). 

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

Federal Student Aid Eligibility

To be eligible for federal student aid, a student must:

  • Be a U.S. Citizen or eligible non-citizen.
  • Have a high school diploma or equivalent.
  • Have a completed FAFSA sent to CMC with no conflicting information.
  • Enroll in courses that will be applied to a program eligible for financial aid. Bachelor’s and associate level programs are financial aid eligible, but certificate programs’ eligibility varies; exceptions exist for certain remedial courses.
  • Enrollment to CMC requires males to register for the Selective Service
  • Not be in default on prior borrowed Federal Student Loans and no outstanding overpayments on prior Pell Grants. 
  • Undeclared and Non-degree Seeking are not eligible degree programs. Meet with a College Counselor/Advisor at your campus for assistance.
  • Maintain Satisfactory Academic Progress.
  • Not receiving aid at two schools at the same time.

Colorado State Financial Aid Eligibility

To be eligible for Colorado State Financial Aid, a student must:

  • Enroll in courses that will be applied to a program eligible for financial aid. Bachelor’s and associate level programs are financial aid eligible, but certificate programs’ eligibility varies; exceptions exist for certain remedial courses.
  • Undeclared and Non-degree Seeking are not eligible degree programs. Meet with a College Counselor/Advisor at your campus for assistance.
  • Be considered a Colorado ASSET student and meet the following requirements:
    • Graduated from a Colorado high school or was physically present in Colorado for at least one year immediately preceding the date the student successfully completed a high school equivalency examination in Colorado; and

    • Has been physically present in Colorado for at least 12 consecutive months prior to enrolling in an institution.

Disbursement of Financial Aid

Financial aid funds are transmitted and applied directly to CMC student accounts approximately 14 days after the start of each term*. If a student’s total financial aid award is less than the 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.

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

*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 the 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.

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 Colorado ASSET, are encouraged to complete the CASFA and may be eligible for state-funded grants if certain criteria are met. Students are encouraged to meet with a Financial Aid Specialist for details.

Scholarships

Colorado Mountain College Foundation Scholarships

The Colorado Mountain College Foundation offers over 500 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 HSE (high school equivalency) completers who are enrolled full-time. Completion of a FAFSA or CASFA is required to be eligible for this scholarship. 

Colorado Mountain Promise Scholarship

This income-based program uses a combination of federal, state and institutional funds to pay your tuition. Once programs like the Pell Grant or Colorado Student Grant are factored in, CMC will make up the difference.

Colorado residency and completion of a FAFSA or CASFA are required to be eligible for this program. Please see the CMC Colorado Mountain Promise page for more details.  

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 Colorado ASSET, are encouraged to complete the CASFA and may be eligible for state-funded work-study if certain criteria are met. Students are encouraged to meet with a 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.

NOTE: 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 or CASFA, will impact their aid. For more information, contact a Financial Aid Specialist.

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 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 concurrent 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 or Exceeds Maximum Timeframe may have the option to submit a Satisfactory Academic Progress Appeal. Speak to a Financial Aid Specialist 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 based on how long the student attended the term. 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.

Veteran Education 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 Veteran Education Benefits.

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

Per VA regulations all education and military transcripts must be provided to receive Veteran Education Benefits.

Send all transcripts from previous higher education institutions and military transcripts to CMC’s Registrar’s Office registrar@coloradomtn.edu for evaluation. 

For information on ordering a Joint Services Transcript (JST), please visit the JST website. CMC uses recommendations provided by the American Council on Education (ACE) for the transcript evaluation. These credit recommendations appear on the service member’s JST. 

For information on ordering an Airforce Transcript, see Community College of the Air Force or Air University

Veterans Benefits and Transition Act of 2018, Section 103

In compliance with Section 103 of the Veterans Benefits and Transition Act of 2018, Colorado Mountain College (CMC) will not impose any penalties due to the delayed disbursement of funding from the Department of Veteran Affairs under chapter 31 or 33.

Students with payment delays will not be charged late fees, prevented from enrolling, or denied access to courses, libraries, or other institutional facilities available to other students who have satisfied their tuition and fee bills to the institution. Nor are students required to borrow additional funds due to the delayed disbursement of funding from the VA under chapter 31 or 33.

To qualify for this provision, such students are required to:

  • Produce a VA Certificate of Eligibility or an eBenefits GI Bill Statement of Benefits by the first day of class.
  • Provide the school with a request to be certified.
  • Provide any additional information needed to properly certify the enrollment as described in the school’s institutional policies.

This provision ends on the earlier of the following dates:

  • The date on which payment from the VA is made to the institution.
  • 90 days after the date the institution certified tuition and fees following the receipt of the Certificate of Eligibility.

Colorado Mountain College does not provide incentive compensation for the recruitment of students who are Veterans or dependents of Veterans.

GI Bill is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. Veterans Affairs website.

NOTE: 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.

The VA approves work experience courses for Veteran Education Benefits only if the course is required of all students earning the specific degree or certificate. Please read the degree/certificate requirements carefully. Visit the CMC Veterans page for further information on Veterans Services. You may also contact the Coordinator of Military Benefits by email at military@coloradomtn.edu or by calling (970) 384-8523.