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Financial Aid Packaging at the University of Colorado February 2005

Financial Aid Packaging at the University of Colorado February 2005. Gwen Eberhard Director of Financial Aid Boulder Campus. Financial Aid Process For Need-Based Aid. How Much Does it Cost to Go to CU? - Cost of Attendance How Much is the Student/Family Expected to Contribute?

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Financial Aid Packaging at the University of Colorado February 2005

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  1. Financial Aid Packaging at the University of ColoradoFebruary 2005 Gwen Eberhard Director of Financial Aid Boulder Campus

  2. Financial Aid ProcessFor Need-Based Aid • How Much Does it Cost to Go to CU? - Cost of Attendance • How Much is the Student/Family Expected to Contribute? • Free Application for Federal Student Aid (FAFSA) • How Much Financial Aid Does a Student Receive?

  3. (COA) Cost of Attendance • Estimate of a Student’s Expenses for the Period of Enrollment • Guidelines Provided by CCHE, in Accordance with Federal Regulations • COA Components Adjusted Annually

  4. Cost of Attendance Components • Tuition and Fees • Room and Board • Books and Supplies • Transportation • Medical • Personal

  5. The Cost of Attendance (COA)College of Arts & Sciences (2004-05) *Costs reflect an undergraduate, resident student. Non-residents are similar with a higher tuition.

  6. Expected Family ContributionFinancial Aid Application/Eligibility • (FAFSA) Free Application for Federal Student Aid determines Eligibility • (EFC) Expected Family Contribution: Amount the Family is Expected to Contribute • Based on income, assets, # in household, # of students in college and other factors

  7. Applying for Financial Aid • High School Counselors • CU Catalog • CU High School Presentations • CU Admission Applications • Admissions & Financial Aid Publications • Admissions & Financial Aid Web Sites • CU for a Day Presentations • Orientation Programs • Presentations to Academic Programs • Emails to Continuing Students • CU PLUS & Student Portal (Boulder)

  8. Need = COA – EFCTypes/Sources of Aid • Grants/Gifts (including scholarships) • Federal, State, Institutional, Private • Work • Federal, State, Institutional • Loans • Federal, Institutional

  9. Financial Aid Package (COA) Cost of Attendance • (EFC) Expected Family Contribution = Need • Financial Aid (Grants, Work, Loan) = Unmet Need

  10. Financial Aid Packaging Examples Undergraduate/Resident/A&S

  11. Meeting the Cost of Attendance Student A Student B Cost of Attendance =$16,514 Unmet Need = $0 - Total Aid $16,314 - EFC $200 Unmet Need = $6,639 • Total Aid • $5,575 • EFC • $4,100

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