Financial Aid Basics

To receive aid from the student aid programs offered at UNC, you must:

Most programs in which UNC participates require that students demonstrate financial need as defined by the regulations governing the programs.

Students and their families should complete the Free Application for Federal Student Aid (FAFSA). This application is submitted to the federal processor in the envelope provided with the application or online at FAFSA Website. Students should list UNC, Greeley, Colorado, Federal School Code 001349, on the FAFSA, which will enable the federal processor to electronically transmit the completed information to UNC. Always keep a copy of anything that was submitted for your records.

The student will receive a copy of the Student Aid Report (SAR) in the mail within 4 weeks after submittal or an electronic SAR e-mail. The SAR is a record of the FAFSA information that the federal processor has entered into their computer, and the student is sent this copy for verification. The student/parent should review each line carefully and compare it to the copy of the FAFSA which was submitted. According to the central processor, if there is a critical line that must be corrected or verified, the line will be in bold print. If corrections are made, the student must send the SAR back to the federal processor or make the corrections online. If the student or parent finds no errors and there are no lines in bold print, the SAR does not need to be returned. Keep the SAR for your records since it contains important information which may be requested by the Office of Financial Aid if problems arise. Students who filed electronically have the mobility to go back online and make corrections. Do not submit the SAR or the FAFSA or any other document to the Office of Financial Aid unless specifically instructed to do so.

The information from the FAFSA is good for only one academic year, and students must reapply each aid year to remain eligible.

Students whose previous year's application was processed by the federal processor will receive either a PIN number or a Renewal Application from the U.S. Department of Education during November or December preceding the new award year. Renewal Applications are mailed to the permanent address supplied on the FAFSA. Students who do not receive a Renewal FAFSA by late January should complete a regular FAFSA and mail it before February 15 to meet the priority date.

The important dates for submission of the Free Application for Federal Student Aid (FAFSA): The FAFSA may be submitted to the federal processor on or after January 1 of the year for which fall semester enrollment at UNC is planned. This would be on or after January 1, 2008 for the academic year fall 2008, spring 2009.

The priority processing date at UNC is March 1. This is the date by which the FAFSA must be received at the federal processor in order to receive maximum assistance from financial aid programs at UNC for the upcoming academic year.

Students who miss the March 1 priority processing date are encouraged to file a FAFSA at the earliest possible date following March 1, and will be considered for any remaining programs. 

Need-based aid is awarded according to federal, state and institutional regulations and is intended to cover that portion of your college costs which cannot be realistically paid by you and/or your parents if you are dependent. The total cost of education shown on your award letter includes standard full-time tuition and fees, an allowance for room and board according to the living arrangements you have specified on your aid application, and an allowance for books, personal expenses and transportation. Your expected family contribution is determined by the federal processor, and the results are forwarded to UNC.

Standard Cost of Attendance

Cost of Attendance (Student Budget) is the estimated amount it will cost to attend UNC for the academic year. Cost of Attendance includes tuition and fees, room and board, books, supplies, transportation and miscellaneous expenses. Actual expenses vary according to individual life styles, priorities and obligations. The costs reflect what UNC considers a modest, adequate living allowance. Special circumstances may allow for an adjustment to the budget such as child care expenses, medical expenses, commuter expenses, and costs related to a disability. To request a change to the cost of attendance, students must provide documentation to the Office of Financial Aid after consulting with a financial aid counselor.

If you have been accepted into a study abroad program you may use any federal, state or institutional aid you would normally be awarded except for work-study and some scholarships. Use of private scholarships for study abroad must be approved by the donor.

Depending on a student’s particular financial status, his/her award may not cover all study abroad costs. There are federal loan limits based on a student’s academic level that prevent UNC from funding an unlimited amount in Stafford loans to students. Study abroad students should have personal funds available to cover the cost of travel and to sustain them for a few weeks, as financial aid funds will not be available until actual full-time academic enrollment verification is completed. Students will also need extra funds for vacation travel as federal law prevents the use of funds for such costs.

Visit the study abroad financial aid counselor to complete the required paperwork and to ensure that you have the funds necessary to study abroad.

After review of your financial aid application, the Office of Financial Aid will post your award offer online within Ursa. This award offer details the amounts and types of financial aid for which you are eligible.  All offers are based upon full-time attendance at UNC as an undergraduate or graduate student.  The Office of Financial Aid begins posting and mailing award notices in the spring.  Follow the instructions you receive with your award notice.  If you have a documented disability and believe it may impact your ability to take full-time coursework, you should notify the Office of Financial Aid prior to awarding.  The Office of Financial Aid will work with you and the Disability Support Services to determine if your documentation warrants a financial aid award that reflects less than full time attendance.  Contact the Disability support services at 970-351-2289 for questions regarding eligibility for disability services, or by e-mail at dac@unco.edu  .

The University Bulletin and Schedule of Classes outline the requirements for payment of student accounts. Payment dates contained in these documents apply to all students, including financial aid recipients. You may receive your financial aid on the first day of the appropriate term. To complete the registration process, you must pay your total bill at Accounting Services by the tenth class day of the semester. If the total bill is not paid by that date, you will receive a monthly bill from Accounts Receivable for all unpaid charges. A 1.75% service charge is added monthly based on the balance. Most financial aid is applied directly to your university account and amounts are reflected on the bill. All grants are automatically credited to the account. Federal Perkins, Federal Subsidized Stafford and Federal Unsubsidized Stafford are credited after all loan paperwork is completed, an entrance counseling session has been attended and if your lender has sent the funds. Reminder: You must earn your work-study award. It is not credited to your bill. If the amount of your financial aid exceeds the amount due to the University, Accounting Services will then disburse the balance of your aid for the term which will be directly deposited into a free checking account established through the University.

Financial aid cannot be disbursed after the term has ended or between semesters. If Fall Stafford funds are received after the end of the semester, the funds cannot be disbursed until Spring semester begins. If the student is not enrolled for the Spring term, then a late disbursement may be pursued. First-time Stafford borrowers who are beginning their first year of their undergraduate program must wait 30 days after the term begins before the loan funds can be disbursed. Disbursal is dependent upon the lender releasing the funds to the school.

In an effort to reduce the default rate for student loans, the Federal Government requires that all first time borrowers complete an online entrance counseling session. The national loan default rate has since dropped considerably, with the default rate for UNC well below the national average.

If you have previously received a loan at UNC and have completed entrance counseling, you are NOT required to complete another session. You WILL be required to complete an online session if you received a loan while attending a different school even though you attended an entrance counseling session at that institution.

You can now do your Stafford Entrance Counseling on the web. An E-mail message will be sent to UNC when you have completed the web questionnaire.

Once a session is completed, loan proceeds will be available in three working days, provided that all other disbursement requirements have been met.

In addition, student borrowers who are graduating must complete exit counseling during the last semester of attendance. You will receive instructions as to the date, time and location of these sessions during the semester of graduation. Failure to attend an exit session will result in a hold on all University services and materials including transcripts, diplomas and registration.

By accepting funds on your award letter, you affirm that any funds received under any federal or state student aid program will be used solely for expenses related to attendance or continued attendance at the University of Northern Colorado. You are further responsible for repayment of a prorated amount of any portion of payments made which cannot reasonably be attributed to meeting educational expenses related to attendance as determined by criteria set forth by the Colorado Commission on Higher Education.

See Terms and Conditions

You have the right to...

You are responsible for...

Many of our students will be borrowing for the first time in their lives. These students, in particular, should review this section for information on budgeting and career planning information. Students should attempt to borrow the minimum amount possible to insure that after graduation they can comfortably accommodate student loan payments. Consider these borrowing strategies which may help to prevent future financial difficulties:

Lender Suggestions

If you have never borrowed before, UNC provides a starting point for lender suggestions. These lenders are committed to providing excellent service and offer many electronic services which will enable you to receive you loan funds quickly. It is not necessary that you have a business relationship or previous accounts with these banks in order to borrow from them. You are under no obligation to borrow from any of these lenders, but you will need to provide UNC the lender code of the lender you choose.

Lender Suggestions

Whom can I contact if I have questions about processing?

Questions about processing your Federal Stafford Loan should be addressed to the College Assist at 1-800-727-9834. The College Access Network staff is prepared to answer a range of questions.
Note: If you have previously received a Stafford Loan we recommend that you continue to process future Stafford Loans through the same lender. If your lender is not one of the preferred lenders listed above, please contact our office to discuss your options.

Financial Resources/Scholarships
Students may have other resources available to assist their educational costs, such as scholarships, Veterans Educational Benefits, or Vocational Rehabilitation Benefits. In order to ensure your financial aid award is accurate, students must notify Student Financial Resources if receiving any of these other resources.

Unusual/ Special Circumstances
Students may submit any unusual or extenuating circumstances not reflected on the FAFSA that may affect aid eligibility. Contact a Financial Aid Counselor at the Office of Financial Aid for information and assistance with this after awarded financial Aid.

If placed on Financial Aid Suspension you are no longer eligible to receive financial assistance under any State or Federal financial aid programs administered by or through the University of Northern Colorado. Financial Aid Suspension does not prohibit your enrollment at UNC, but you will be responsible for all charges incurred. Financial Aid Suspension remains in effect unless removed by the Appeals Committee (See Financial Aid Appeals). If you are academically suspended, and then you are readmitted to the University, you must still appeal your financial aid suspension. If financial assistance is received and you were not eligible, repayment of that aid is required immediately. The entire financial aid Refund/Repayment Policy may be obtained on our website upon request from the Office of Financial Aid.

The Standards for Satisfactory Academic Progress and the associated policies may have changed for the next academic year. All students need to read this material carefully, and direct any questions to the Office of Financial Aid at 970-351-2502.

See Satisfactory Academic Progress

You and your family have the primary responsibility to pay as much as possible toward your education. Financial aid is intended to supplement a family's contribution and ability to pay in order to help meet educational costs. Therefore, you must be aware that while financial aid is available, you and your family are expected to make paying for higher education your primary responsibility during the college years.

Your expected family contribution is determined by an analysis of several factors taken from information reported on your financial aid application. It is an amount estimated by a federally defined formula called Federal Methodology. The factors considered in this analysis include:

Students are expected to help pay for educational expenses as well. It is assumed that savings from summer employment will be a major source of this contribution.

The Office of Financial Aid participates in the Quality Assurance Program in cooperation with the United States Department of Education. The primary goal of the program is to improve equity and fairness in awarding public and private dollars to needy students and to assess the quality and accuracy of the financial aid process. This evaluation will take place through the study of a sample of federal financial aid recipients and verification of information reported on those applications. The Quality Assurance Program enables us to determine the types of errors made by students and families as they complete their applications and develop procedures to promote correct filing. The program also enables us to determine problematic areas in the processing of your financial aid so we can provide better service. Students selected for this process are usually asked to turn in supporting documents such as tax returns for verification.