How to Pay for College the Smart Way

Learn how to lower your out-of-pocket costs and avoid student debt

Even with low tuition, funding your education can be complicated at times. We’re here to help!

Let’s look at the possibilities to reduce your total costs, pay for college, and support you while attending college. Below you’ll find three scenarios displayed that are typical of many students. Choose the one closest to your situation to gain a better understanding of how the funding all works together.

Already you’ve started at the right place: Colorado Mountain College offers the lowest tuition rates in Colorado.

Paying for College: See How It Works in Four Student Scenarios

We made up three different student scenarios — you're probably in similar circumstances to one of them. We used real costs and the most common types of financial aid and scholarships that fit our example students. You'll get a good picture of how it all works to help you pay for college.

Student Scenario: Kiera

Kiera graduated this year from a local high school in the CMC district. She plans to enroll in an Associate of Arts program full-time in the fall and plans on transferring after completing her degree.

Kiera is going to live at home with her mother to save money while attending CMC. As an 18-year-old recent high school graduate, Kiera is considered a dependent of her mother for financial aid purposes. Her mother makes $32,000 per year.

SEE HOW KIERA PAYS FOR COLLEGE

Kiera’s Costs Charged by Colorado Mountain College

For her first year at CMC, Kiera will take 15 credit hours of classes each fall and spring semester. Here are her costs for the 30 credit hours.

Costs / Fees	Amount
In-District Tuition ($100 per credit hour)	$3,000
Learning Materials Program ($25 per credit hour)	$750
Fees, Technology fee	$100
Total Costs	$3,850

Kiera’s Financial Aid Package

Every financial aid award is unique and specific to each student’s/family’s circumstances. Due to the many factors that go into determining an aid package, your individualized award package may differ from these examples.

As a 2021 graduate of a high school in the CMC District, Kiera qualifies for the President's Scholarship (full details). She has a large Pell Grant, which is based on her financial need and other factors. As a Colorado resident enrolled at least half time, Kiera applied in time to receive the College Responsibility Program Grant.

Financial Aid / Scholarship	Amount
Colorado Mountain College President’s Scholarship	$1,000
Federal Pell Grant	$6,495
College Responsibility Program (CRP) Grant	$3,500
Total Financial Aid	$10,995

Kiera’s Financial Aid Refund

Kiera has a "refund" for her first year. Students may receive a refund from financial aid funds once their CMC account balance is paid in full. Kiera can use her refund for other living and educational expenses.

Here, Kiera's refund will be disbursed in separate payments, typically once in the fall semester and again in the spring term.

Source	Amount
Total Financial Aid Package	$10,995
College Costs	-$3,850
Financial Aid Refund	$7,145

Student Scenario: Adrian

Adrian is a 30-year-old restaurant employee who lives alone in an apartment in Breckenridge, Colorado. He has a tuition classification of in-district. Adrian plans to go to school part-time (6 credit hours a semester) and pursue an Associate of Applied Science in Early Childhood Education. Adrian works full-time and earns about $30,000 per year

SEE HOW ADRIAN PAYS FOR COLLEGE

Adrian’s Costs Charged by Colorado Mountain College

Adrian will start as a part-time student at CMC, taking 6 credit hours of classes his first semester. Here are his cost for 12 credit hours for the year.

Costs / Fees	Amount
In-District Tuition ($100 per credit hour)	$1,200
Learning Materials Program ($25 per credit hour)	$300
Fees, Technology fee	$100
Total Costs	$1,600

Adrian’s Financial Aid Package

Since Adrian is 30 years old, his financial aid package is based on his income and personal finances. Adrian qualifies for the Colorado Opportunity Scholarship based on his program of early childhood education. Adrian also applied in time to receive the state College Responsibility Program Grant.

To help cover the remaining costs, Adrian was offered a Federal Direct Subsidized Student Loan. This loan does not require payments until after Adrian graduates or leaves school.

Financial Aid / Scholarship	Amount
Colorado Opportunity Scholarship (COSI)	$1,000
College Responsibility Program (CRP) Grant	$4,000
Federal Direct Subsidized Student Loan	$3,500
Total Financial Aid	$8,500

Adrian’s Financial Aid Refund

Adrian has a "refund" for his first year. Students may receive a refund from financial aid funds once their account balance is covered. Adrian can use his refund to used for other living and educational expenses.

Here, Adrian’s refund will be distributed in two payments, once in the fall semester and again in the spring term.

Please note total financial aid may not exceed a student’s established Cost of Attendance (COA). In this example Adrian’s cost of attendance is $18,096. COA typically includes costs like; tuition, books, fees, materials, living expenses, transportation, etc., as established by Federal and institutional guidelines.

Source	Amount
Total Financial Aid Package	$9,125
College Costs	-$1,600
Financial Aid Refund	$7,525

Student Scenario: Mario

Mario is a recent high school graduate from Austin, Texas. He is going to attend the Steamboat Springs Campus as a full-time student. Mario has to live on campus as a new college student and is going to pursue a bachelor's degree in Sustainability Studies. Mario is a dependent of his parents who filled out the FAFSA and reported an income of $40,000 per year. Mario's father is a veteran of the U.S. Armed Forces.

SEE HOW MARIO PAYS FOR COLLEGE

Mario’s Costs Charged by Colorado Mountain College

Mario will move into the residence hall at CMC Steamboat and take classes full-time at 15 credit hours a semester. Here are his costs for 30 credit hours and living on campus for two semesters.

Costs / Fees	Amount
Out-of-State Tuition ($510 per credit hour)	$15,300
Learning Materials Program ($25 per credit hour)	$750
Room & Board	$10,900
Fees: Technology fee, Student Activity fee, Residence Hall Technology fee	$630
Total Costs	$27,580

Mario’s Financial Aid Package

Mario‘s family completed the Free Application for Federal Student Aid (FASFA) and received over $10,000 in grant money. Mario was also used Colorado Mountain College discount honoring veteran’s of the U.S. Armed Forces. This 25% discount on tuition was almost $3500 for Mario.

To complete the rest of the financial package, Mario accepted Federal subsidized and unsubsidized student loans for $5500. These loans are in Mario’s name and repayments begin after graduation or if Mario leaves college.

Mario’s parents also received a loan, called a PLUS loan for $7300.

Financial Aid / Scholarship	Amount
Federal Pell Grant	$6,495
Federal Supplemental Educational Opportunity Grant (FSEOG)	$4,000
CMC Military Tuition Discount (25% off of tuition charges)	$3,495
Federal Direct Subsidized Student Loan	$3,500
Federal Direct Unsubsidized Student Loan	$2,000
Federal Direct Parent PLUS Loan	$7,300
Total Financial Aid	$26,790

Mario’s Financial Aid Refund

Mario has a "refund" for his first year. Students may receive a refund from financial aid funds once their account balance is covered. Mario can use his refund for other living and educational expenses.

Here, Mario’s refund will be distributed in two payments, once in the fall semester and again in the spring term.

Please note total financial aid may not exceed a student’s established Cost of Attendance (COA). In this example Mario’s cost of attendance is $26,817. COA typically includes costs like; tuition, books, fees, materials, living expenses, transportation, etc., as established by Federal and institutional guidelines.

Source	Amount
Total Financial Aid Package	$26,790
College Costs	-$27,580
Financial Aid Refund	$0

Funding Options

Federal and State Financial Aid

Commonly referred to as the FAFSA, the Free Application for Federal Student Aid is your first step. Find out if you are eligible for valuable grants, student loans and work-study jobs. Never assume that you won't qualify! Fill out the form and get informed about your real options. To get started, go to FAFSA.

For complete information, see Financial Aid

Scholarships

Scholarships are a great way to fund your education. More and more are made available every day, and they don't have to be paid back! You can apply for financial need-based scholarships, and/or merit-based scholarships that are awarded for academic and personal achievement. CMC offers several scholarships in both categories, but don't stop there! Visit FastWeb for access to thousands of national awards.

CMC Scholarship Information

Payment Plan

Paying your tuition is easy with CMC's Payment Plan. It breaks your expenses into monthly payments, and by planning ahead, you can pay for a semester's expenses over four or five months.

See Payment Plans

Veterans' Benefits

Financial benefits are available for veterans attending CMC. Please contact us at military@coloradomtn.edu for assistance.

graphic - veterans' benefits at CMC

FAFSA promotion: 85% chance for college financial aid, just by filling out the FAFSA, 23 minutes average time to complete the FAFSA, $2.4 billion unused financial aid still available.