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?
We have done our best to assess your family’s ability to contribute to your college education and to provide financial assistance that will help make it possible for you to attend. Our four-year commitment to you means that the total value of your Colorado College grants and scholarships (including any named endowed funds listed in your letter) will be renewed automatically each year at the same level plus an increase which reflects the percentage increase in tuition. (For example, if your Colorado College grants and scholarships total $10,000 for the 2007-08 school year and if the percentage increase in tuition the following year is 4%, then your CC grants and scholarships would be renewed at $10,400 for the 2008-2009 school year.) You will be required to re-apply each year to determine your eligibility for federal and state aid (federal and state grants, loans and work study). This amount of assistance also should be similar each year if your family’s situation does not significantly change. This will assist your family as you plan your college financing during the four consecutive undergraduate years at Colorado College. You must be a full-time student at CC and remain in good academic standing to receive Colorado College funds all four consecutive years. Please see the Financial Aid Policies Handbook for further information on eligibility requirements for CC aid and government aid.

What happens if I receive a scholarship from an outside organization?
In most cases, private or outside scholarships may not reduce the financial aid award. The only exception is if the amount of the outside scholarship causes the total aid award to exceed the amount of federal aid eligibility. In this case we must reduce the amount of aid so the total does not exceed the limits according to federal regulations. In these cases, we will reduce the self-help (loan or work-study) by the amount of the outside scholarship. If the outside scholarship still exceeds the amount of federal aid eligibility and the student has been awarded federal or state funds, those funds would be reduced accordingly (except for the federal Pell grant which is not affected by these federal regulations). Once all federal and state funds (except for the federal Pell grant) have been eliminated, no further reduction of the student's award will occur.

I am concerned about the amount of debt I will incur as a student. What will my estimated student loan debt be upon graduation at Colorado College?
This is a very good question and should be asked of all colleges you are considering. Although this will depend on your willingness to assume debt and your federal student loan eligibility, as a general rule you can estimate your debt upon graduation from Colorado College by multiplying the student loan on your affordability plan by 4. Estimated monthly payment amounts can be determined by accessing this website: FinAid

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 2007-08 school year (usually older siblings), we have taken this into consideration when preparing your four-year affordability plan. We have factored the number of years you and your sibling will overlap in college enrollment into the affordability plan and the four-year grant commitment. The Colorado College funds in your affordability plan will not decrease over your four consecutive years of enrollment at CC even when you become the only child enrolled in college. In other words, your CC affordability plan is a four-year look at what your family can provide to your CC college costs. In the first years when you overlap enrollment with your brother or sister, the overall college costs may require an extra effort from the family. But during the time when you are the only child enrolled in college, the CC funds will not decrease. We have considered the amount your family can contribute over four consecutive years and asked for an equal amount each year as well as making our own commitment to provide the same amount (with inflationary increases) over your time at Colorado College.

If your family has other children (usually younger siblings) who will enroll in undergraduate college some time after the 2007-08 school year, we have not factored their overlapping college enrollment into your award, simply because it is difficult to predict what type of college they will attend, if any. Your family may wish to ask the Financial Aid Office to consider a change in your affordability plan in subsequent years if you have siblings who enroll in college after the 2007-08 school year.

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.