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RA Position Financial Considerations

The Office of Residential Life & Campus Activities recognizes that the RA position may impact individual student financial aid packages. We hope that this page will help the candidates better understand those impacts and encourage all students to speak with their Financial Aid counselor prior to accepting the RA position.  

For students eligible for work-study how may the RA position reduce the award?

The College is obligated to follow federal and state regulations when awarding governmental work-study funds. Since the student is not charged for a room charge when they accept an RA position, the total cost of attendance is lowered by the amount of the room. This lower cost may reduce their eligibility for governmental work-study funds. Students who are paid from institutional student employment departmental funds rather than the federal or state work-study programs are not impacted by this requirement. If a student has been awarded financial aid prior to us knowing the student is an RA, this may result in adjusting the federal or state work-study award. We do not lower the Colorado College grants or scholarships based on a student being named a resident advisor.

For example we had a few students report that their work-study allotment was significantly cut once they accepted the position. As a perk, RAs that opt to work for desk hours get paid a separate check. 

What does it mean when we say “funds decreased” due to outside scholarship?

To remain in compliance with federal and state student financial aid regulations, we may need to decrease government subsided financial aid when a student receives a scholarship from an organization outside the college.

Are there ever times when the student will get a “payout” or refund – for example the students that do not have a financial need that apply to be RAs – we imagine that the HOUSING charge is removed from the bill – are they paying less or are they getting the refund of the cost of the room?

All housing charges are removed (or modified depending on residential area) from the student’s account (bill) when they are named as an RA. They are therefore paying less. *See RA Description for compensation details. 

Students with financial need – when talking with financial aid counselor – how may they best prepare for this meeting?

Probably the best way to prepare for a meeting is for the student to have completed all the financial aid application materials for the upcoming academic year prior to be selected for an RA and prior to meeting with the financial aid team.

 

What questions should I ask my financial aid counselor?

Since they have completed their financial aid application materials, the financial aid rep would review your information and anticipated financial aid award. Student is responsible for making their own decisions.