Financial Aid Tips

If you’re borrowing student loans, you need to be on top of your game. Here are a few things every borrower should be aware of:

• Loan Repayment: Make sure you understand your loan terms, including the interest rate and repayment plans. Don’t forget to explore options like deferment or forgiveness if needed—these can make a huge difference!
• Deadlines, deadlines, deadlines! Staying on top of deadlines is crucial. Whether it's for financial aid, scholarships, or other important forms, missing a date can cost you money.
• Understand the fine print: Always read the terms and conditions of your financial aid award or loan offer so there are no surprises later.
• Look for more resources: Scholarships, employer tuition assistance, community aid—there are lots of options out there. Don’t stop with just the financial aid we offer.
• Need help? The Financial Aid Office is always here to guide you through the process. Don’t hesitate to reach out!

For more details on student loans and repayment, check out this guide and log in for personalized info on your loans.

Fall is almost here! Are you ready? If you haven’t sorted out your financial aid yet, there’s still time. Here’s what you need to do:

• Haven’t received your financial aid offer yet? Log in to Basecamp and check your Financial Aid Self Service portal. There might be actions you need to take—don't wait!
• Has your financial situation changed? If you or your family have gone through something big—like a job loss—you might qualify for a Special Circumstances Appeal. Reach out to the Financial Aid Office to see if you can adjust your aid.
• Qualified for work-study? If you’ve been awarded work-study, it’s time to start looking for a job! Check out the available positions [here] and email the Work-Study Team at workstudy@coloradomtn.edu to let them know which one you’re interested in. Get ahead of the game and start earning some extra cash this semester!

The Office of Financial Aid Encourages Students to Remain Patient and Persistent when applying for aid for the 2024-2025 academic year

On December 31, 2023, the newly updated Free Application for Federal Student Aid (FAFSA®) opened in what was announced as a “soft launch.” Congress legislated changes to the financial aid application for the purpose of reducing barriers to educational funding and serving more students. There have been some technical glitches with the new online process. While the federal government resolves these issues, the Office of Financial Aid is here to help and support students where we can. Students who have contributors who are unable to complete their portion of the FAFSA should stay alert for opportunities to move the process forward.

What we want students to know

Federal Student Aid will not begin processing 2024-2025 FAFSA forms until the "first half of March.” We understand that the delay affects students’ planning and decision-making. The CMC Office of Financial Aid will do everything in its power to expedite the awarding of aid once we have received the necessary information.

You might encounter a technical issue when filling out the FAFSA. Some issues are minor. For example, a signature might be removed by the system, and will need to be re-entered.

Other issues create obstacles to re-entering the FAFSA or completing the form. If you or one of your contributors cannot complete the form, we encourage you to contact the CMC Office of Financial Aid.

Take notes about your problem so that you will be able to describe what happened in detail.  We can then help you with a solution or let you know if a resolution is being developed for the issue you are experiencing.

Get started now

Although some students have had difficulties, many have successfully completed the new FAFSA.  It’s wise to get started as soon as possible in order to maximize your funding opportunities. See the Resources section below for useful links.  If you find that the system is down, wait a little while and try again. After saving your FAFSA, keep an eye on your Federal Student Aid dashboard for pending items that may need your attention.

• Remember to apply for scholarships—start at CMC Scholarships
• The 2024-2025 CASFA (Colorado Application for State FinancialAid) is open for those who are ineligible to complete the FAFSA
• Attend a virtual workshop for FAFSA and CASFA
  • Feb. 20: Spanish only, 4:30 – 5:30 p.m.
  • Feb. 21: English only, 4:30 – 5:30 p.m.

To receive the workshop link, visit Financial Aid & Scholarships.

Consult with a Financial Aid Specialist—virtually,  by phone, or in person.