Types of Aid
The FAFSA not only determines a student’s eligibility for financial aid but also determines the types of aid available to the student. Financial aid may be need-based or non-need-based, depending on the Estimated Family Contribution (EFC) as determined by the U.S. Department of Education.
All grants at CCD are need-based and do not need to be repaid. Award amounts and eligibility depend on EFC and enrollment status. Most grant payments will be reduced if a student is not enrolled full-time. Half-time enrollment (six or more credits) will result in receiving half or less of a grant. Students do not need to attend full-time to receive grant funds, if eligible.
Regardless of financial need as determined by the FAFSA, both Federal and Colorado Work-Study may be available on a first-come, first-served basis. Students earn work-study through part-time employment on or off campus and must be enrolled at least half-time (six or more credits) to qualify. Students can gain employment experience in an area directly related to their field of study while being paid bi-weekly. Eligible students are notified of their maximum work-study eligibility through the Financial Aid Award Notice and CCDConnect.
Scholarships are a form of gift aid that does not need to be repaid. Scholarship criteria may include academic achievement, need, talent, special qualities, or a combination of these factors. Institutional and private scholarships are posted in the Financial Aid & Scholarship section of the college website. Students apply annually starting in January for the upcoming academic year.
Priority is given to students who apply on or before April 15.
Federal Direct Student Loans
Federal Direct Student Loans are guaranteed by the U.S. Department of Education and do not require a credit check. Students must be enrolled at least half-time to receive Direct Loans. Most Direct Loans must be repaid six months after the student is no longer enrolled at least half-time in an eligible program.
Federal annual limits apply to loans, depending on the student’s grade level and dependency status. To accept Direct Loans, students must accept the amount needed online via CCDConnect and complete an Entrance Counseling session and a Master Promissory Note (MPN) at www.StudentLoans.gov. Students must also complete Exit Counseling when no longer enrolled at least half time.
Students who borrowed their first Direct Loans between July 2012 and July 2014 must begin repayment after dropping below half-time enrollment and do not qualify for the six month grace period. For additional repayment information, students can call 1.800.848.0979 or visit www.StudentLoans.gov.
Federal Direct Subsidized Loan
Interest (3.76%) is paid by the federal government on behalf of the student while the student is enrolled at least half time. Repayment begins six months after the student is no longer enrolled at least half time. In repayment, the student assumes responsibility for interest payments.
Federal Direct Unsubsidized Loan – Not Need-Based
Interest (3.76%) accrues and capitalizes while the student is enrolled. While the student is not required to make payments on any Direct Loans while enrolled at least half-time, the student is strongly encouraged to make interest payments while in school.
Federal Direct PLUS Loans (Parents)
Parents may borrow directly from the federal government on behalf of the student. Repayment typically begins within 60 days after disbursement. The parent has up to 10 years to repay the loan. Credit checks are required and not all loans are guaranteed. If a parent is denied a PLUS loan due to credit, the student may borrow additional unsubsidized Direct Loans.