Colorado State University-Pueblo Parent Guide
Financial Aid at CSU-Pueblo
Financial aid aims to narrow the gap between your student’s cost of education and what your family can afford to contribute. Listed below you will find a few questions frequently asked by parents of new college students. More information is posted at our web site.
Why can’t I find out specifics about my student’s financial aid, billing, or grades?
The Family Educational Rights and Privacy Act of 1974 (FERPA) protects the privacy of student records by requiring prior written consent before disclosing personally identifiable information to a third party by colleges and universities that receive funding from the federal government. If you are expecting to help your student with specifics on his/her account, have your student visit Student Financial Services and complete a Release of Information to allow the Financial Aid staff to discuss your questions with you.
How will Student Financial Services communicate with my student?
Important notifications and reminders are communicated via CSU-Pueblo e-mail accounts. Students can view their financial aid awards, disbursements, and billing through their online Personal Access to Web Services (PAWS) account. Paper bills and award letters are not mailed to students. However, if you are paying the bill for the student, they have the option to email you a secure link that will allow you to view their billing statement through PAWS.
Are there some terms that would help us understand the financial aid process better?
First-time college parents should know these terms in order to better understand the financial aid process:
FAFSA: Free Application for Federal Student Aid – The FAFSA is an annual aid application that is completed by the student and parent to determine eligibility for federal and state aid and most types of institutional aid.
SAR: Student Aid Report – This is the report received after completing the FAFSA. Students and any school listed on the FAFSA will receive a copy of the report.
EFC: Estimated Family Contribution – You will find this number on your student’s SAR. Many parents see this and sometimes become confused that this is the amount “out-of-pocket” they must pay for their student’s education. However, the EFC should be thought of as a guide number for what types of aid your student might be eligible to receive. In general, the lower the EFC, the more aid available.
COA: Cost of Attendance – Each school has a set Cost of Attendance, based on a variety of factors. For CSU-Pueblo, the COA is set by the Colorado Department of Higher Education who calculates an allowance for tuition/fees, books/supplies, room/board, transportation costs, medical expenses, and personal expenses for each semester.
How is my student’s financial aid determined?
Financial aid awards are individualized for each student. A student’s COA minus the EFC (see above) will result in the “Financial Need.” This need is different for every student.
When is my student’s aid distributed?
If every required task has been completed, a student should receive their disbursement the week before classes begin, giving them time to purchase their books if they are receiving any excess funds. However, Student Financial Services highly recommends that students come to campus with enough money to purchase their books in the event there is an unforeseen delay in their aid or in case they have not completed all the requirements to receive their aid in a timely manner.
My student received a scholarship from someone outside of the University, but it doesn’t yet appear on their award. What’s the issue?
Student Financial Services does not award outside scholarships to the student until the funds have been received from the donor. If your student has not received the funds yet, have them check with their donor first to make sure the funds have been sent to the school. If the funds have been sent, allow up to a week for this to be reflected on the PAWS account from the time the funds are received.
Do we need an appointment to meet with a Financial Aid Counselor?
Meeting with a Financial Aid Counselor is on a walk-in basis, and no appointment is necessary. Financial Aid Counselors are available Monday through Friday from 8 a.m. – 5 p.m.
If I give my student information to complete the FAFSA and sign with him, am I responsible to repay their student loans?
By providing information and signing the FAFSA with your student, you are simply allowing the U.S. Department of Education to determine financial aid eligibility. You are not committing to repay the student loan. Federal student loans are the sole responsibility of the student to repay.
What options are available for additional funding?
Parents of undergraduate students have the option to apply for a parent loan, commonly called a PLUS Loan (Parent Loan for Undergraduate Students). PLUS loans are federally funded loans that have a favorable fixed interest rate and repayment options typically not offered with private loans.
Does my student have to select a lender for their student loans?
Due to recent regulatory changes, all student loans and PLUS loans are made through Direct Lending – directly with the U.S. Department of Education.
Are student loans considered financial aid?
Federal student loans are a form of financial aid. Federal student loans do not require a credit decision and have favorable interest rates (sometimes deferred interest while attending school), varied repayment options, and provisions for loan forgiveness that cannot be found on private student loans.
My student was selected for verification, but why do you need my tax records?
Each year approximately 30 percent of Student Aid Reports are selected for “verification” by the U.S. Department of Education. This means the school must verify the information provided on the FAFSA was accurate before financial aid can be released. Students can view whether or not they were selected for verification and what documents are required through their PAWS account online.
