This page provides answers to commonly asked questions about services, programs and resources related to financial aid. Click on the links in the sidebar to view the questions and answers for other financial aid-related topics.
What is financial aid?
The intent of financial aid programs such as grants, scholarships, work-study and loans is to assist you in paying for the costs of your education while at Aims Community College. By accepting these awards, you have agreed these funds will be used for your educational expenses.
How long can I receive financial aid?
Financial aid awards are usually made for the fall and spring semesters. Awards made for only one semester indicate you are approaching the end of your financial aid eligibility. You may be eligible to receive financial aid for up to 150 percent of your current academic program length, regardless if financial aid was received for any or all of these credits.
Examples:
- A 60-credit-hour degree program must be completed within 90 attempted credits.
- A 24-credit-hour financial aid-eligible certificate program must be completed within 36 attempted credits.
Do I need to do anything additional to apply for Federal Direct Loans or Work-study?
These financial aid awards REQUIRE you to complete additional steps before these funds can be paid. Please refer to the FAQ information for Federal Direct Loans and Work-Study programs.
What if I receive other money for my education?
You are required to notify the Office of Financial Aid in writing or by email the source and amount you expect to receive from outside resources, including but not limited to:
- Private scholarships and grants
- Alternative educational loans
- Veterans benefits
- Funding received from agencies that assist students with payment of school costs
What is an “official acceptance” of awards?
Foundation Scholarships and Federal Direct Loans require an "official acceptance" from you. If you have been awarded a Foundation Scholarship, the acceptance form will be emailed to you separately from your award letter. You must formally accept any Federal Direct Loan funds that are offered. If you choose to decline all or part of the awards shown on your award letter, please notify the Office of Financial Aid in writing or by e-mail stating specifically the awards and terms you wish to decline. Be sure to include your name and the last four of your Aims Student ID on this notification.
When will I receive my financial aid funds?
Payment of your financial aid will occur just prior to the scheduled start date of each semester provided your financial aid awards have been made and you have completed all additional requirements, if applicable.
- First-time loan borrowers must have completed all of the additional steps for the first disbursement of your loan to be paid to your student tuition account.
- Work-study grant funds are NOT paid to your student tuition account. If you are hired for a work-study-eligible job, you will be paid monthly for hours worked within each pay period.
Is there a minimum number of credits I can take to still get financial aid?
Most financial aid programs require enrollment of at least six credits for you to be eligible for the payment of these funds to your student tuition account. The Federal Pell Grant program MAY be available to students who are enrolled for less than half-time (.5 to 5.5 credits) depending upon their Expected Family Contribution (EFC).
If I take fewer than 12 credits, will I get the same amount of financial aid?
Probably not. If you are enrolled for fewer than 12 credit hours, the amount of financial aid that pays to your student tuition account may be different than the amount stated in your award letter. Many programs require the amount paid to be adjusted according to your actual enrollment status. Where enrollment statuses and adjustments are defined as:
- 12 or more credits: Full-time (100 percent of award)
- 9 – 11.99 credits: Three-quarter-time (75 percent of award)
- 6 – 8.99 credits: Half-time (50 percent of award)
.5 – 5.99 credits: Less-than-half-time (no payment of award)
Can my attendance and enrollment status affect my payments?
Yes, financial aid paid to your student tuition account will take place throughout each semester and may adjust (up or down) based upon your actual class attendance and enrollment status. Failure to attend each registered class at the start of the scheduled class can result in you being reported as a no-show.
If reported as a no-show you may be dropped from that course. Being dropped from a course can change your enrollment status and therefore reduce the amount of financial aid for which you have established eligibility. This can result in financial aid funds that have been paid to your student tuition account being unpaid and returned to the appropriate financial aid programs. This may result in you owing a balance to Aims Community College. The same can occur when a late starting class is dropped, no-showed or canceled.
We recommend you check with the Office of Financial Aid PRIOR to making a change in your enrollment status or withdrawing from any courses so that the impact of such actions can be determined.
For more information about your financial responsibilities, please visit the Aims Student Financial Responsibilities Agreement page.
What happens if my financial aid is more than my tuition and fees owed to the school?
For enrolled students whose financial aid has been awarded prior to the start of the semester and who are eligible for a refund at that time; a refund will be generated and made available the first day of the semester. When you first enroll in classes you will be asked to choose a method of refund through the Refund Select program.
What academic standards are there for financial aid?
You must meet the requirements of the Aims Community College Financial Aid Satisfactory Academic Progress policy by maintaining a cumulative grade point average of 2.0 or above and by successfully completing the required minimum number of credits for your enrollment status and be within 150 percent of your academic program length.
- The Aims Scholars Scholarship program requires a minimum 3.2 cumulative undergraduate GPA.
- The Aims Opportunity Scholarship (funded by the Colorado State Legislature) requires a 3.0 cumulative undergraduate GPA.
- Some Aims Foundation Scholarships also require a cumulative GPA above 2.0.
If you have been awarded Federal Student Aid and you withdraw or receive all "‘F" or "U" grades or both for all of your classes, the Office of Financial Aid is REQUIRED to complete a Return of Title IV Fund calculation. This calculation determines the amount of federal student aid you have earned based upon your last date of attendance. This calculation may result in the school having to repay funds back to the federal student aid programs that were previously paid to your student tuition account. This would then result in you owing a balance to Aims.
Where can I get more information about the Financial Aid Satisfactory Academic Progress Policy?
Visit the Office of Financial Aid Satisfactory Academic Progress Policy page for more information.
Satisfactory Academic Progress
What do I do if I move or get a new phone number?
You are responsible for notifying the Registration & Records Office should you have a change in your name, address or phone number.