General Financial Aid Requirements
The information below outlines requirements you must meet to receive financial aid
and circumstances that will affect your aid eligibility. Financial aid includes state
or federal grants, state or federal work-study and federal loans. Please read carefully
and be aware that you are subject to these conditions upon acceptance of any financial
- By accepting the funds on your award letter, you agree that any funds received under
any federal, state or institutional student aid programs will be used solely for expenses
related to your attendance at Aims Community College for the academic program you
are currently pursuing. Please note: Aims Foundation Scholarships have a separate
- Additional assistance such as scholarships, tuition assistance or veterans benefits,
can result in an adjustment of aid offered by Aims. Funds received in excess of your
need or estimated cost of attendance as determined by the Aims Financial Aid Office
will require an adjustment to your awards. Adjustments can include reductions or cancellations
and your need to pay any balance owed.
- A financial aid award does not guarantee you are eligible for the funds indicated.
In addition to receiving an award, eligibility for payment of those funds is based
upon your enrollment status for the term, your financial aid satisfactory academic progress and the availability of funding.
- You may be eligible to receive financial aid for required coursework up to 150% of
your current academic program length, even if financial aid was not received for any
of these credits.
Example 1: A 60 credit-hour degree program must be completed within 90 attempted credits.
Example 2: A 24 credit-hour certificate program must be completed within 36 attempted
- You may have your financial need recalculated if there has been a significant change
in your family's financial situation. However, this may not necessarily result in
an increase in aid.
- The Financial Aid Office reserves the right to review, adjust or cancel awards at
any time due to changes in student finances, residency or academic status or because
of adjustments in federal or state regulations, funding, computation error or receipt
of additional aid or scholarships.
- After filing your FAFSA, if you are convicted of possessing or selling drugs, you
must notify the Aims Financial Aid Office.
- You may not receive assistance from any other institution of higher education while
you are receiving assistance at Aims Community College.
- Financial aid is not automatically renewable; you must apply every year to be considered.
To be considered for certain types of grants and/or work-study funds that are very
limited, you are encouraged to have your Free Application for Federal Student Aid
(FAFSA) submitted to the federal processor by March 15 for the upcoming school year (fall/spring/summer).
- You are limited to 12 full-time semesters (or 600%) of Pell Grant eligibility during
your lifetime. If you have attended college for 4 years or longer, receiving the Pell
Grant each year, you are likely to exhaust or have already exhausted your lifetime
limit of 12 semesters of Pell Grant eligibility. If you have attended college and
received the Pell Grant for 4 years or less, you will likely not surpass the lifetime
limit during the current academic year. However, you may contact the financial aid
office if you are unsure about your Pell Grant eligibility.
Awards may be cancelled if
- awards are not accepted or declined within the specified time frame
- you are in an ineligible status for financial aid
- you no longer qualify for the funds awarded
Federal Student Loan – MPN, Entrance and Exit Counseling Requirements
Go to www.studentloans.gov to:
- Complete and sign your Master Promissory Note and Direct Loan Entrance Counseling.
- Your MPN must be signed and active
- Your MPN and Direct Loan Entrance Counseling must be acknowledged to our office by
the U.S. Department of Education.
- Complete your Direct Loan Exit Counseling once you are registered for fewer than 6
Step-by-step instructions for these processes can be found on MPN & Entrance Counseling Instructions.
- To receive financial aid you must be admitted to Aims Community College in a degree
or financial aid eligible certificate granting program.
- Only credits that apply toward your degree or certificate program can be used when
determining your enrollment status for financial aid purposes.
- If you have twice previously passed a course with a grade of 'D' or better and are
retaking the course again, the credits for that course will not be used in determining
your enrollment status for financial aid purposes.
- A maximum of 30 credits of remedial coursework can be used in determining your enrollment
status for financial aid purposes.
- If you are registered for a class and do not ever attend class, you will be 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 reduce the amount of your financial aid
eligibility. This can cause financial aid funds that have been paid to your student
tuition account being pulled back 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 Financial Aid Office PRIOR to making a change in your enrollment status and/or
withdrawing from any courses so the impact of such actions can be determined.
- Your financial aid payment will be based on the number of credit hours that apply
toward your degree or certificate. 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 on your award letter. Many programs, particularly grants, require
the amount paid to be adjusted according to your enrollment status and adjustments
are defined as:
||Amount of Award Paid
|Full-time (12+ credits)
|Three-quarter time (9-11.99 credits)
|Half-time (6-8.99 credits)
|Less-than-half-time (.5-5.99 credits)
Please note: Federal loans require enrollment of at least 6 credits to be eligible
for the payment of those funds.
Receiving Your Money
- Your financial aid will be credited to your student tuition account just prior to
the scheduled start date of each semester provided you have been awarded financial
aid, you have completed all financial aid requirements, and you are enrolled for the
minimum required number of credits. Most financial aid programs require a minimum
of 6 credits.
Most financial aid is applied directly to your Aims student tuition account and amounts
are reflected on your bill. All grants are automatically credited to the account.
Federal Stafford (subsidized and unsubsidized) and PLUS Loans are credited after all
loan paperwork is done, entrance counseling has been completed, and the scheduled
disbursement date has arrived.
If the amount of your financial aid is greater than the amount due to Aims for your
tuition and fees, the Cashier's Office will refund the balance of your aid for the
term. An email notification will be sent to your Aims email account stating when funds
will be available to you. Generally funds are available 2-7 days after the date of
disbursement. Refunds are not available prior to the start of the semester.
Please check for the payment of your financial aid by logging into your myAims account
Please note: Adjustments to your aid and your bill may be made any time additional
information is received regarding enrollment, your financial aid, third party payments
or a scholarship is received.
- First-year, first-time borrowers from the Federal Direct Loan program will have a
30 calendar-day delay in the disbursement of their loan per the US Department of Education.
The first disbursement will occur 30 calendar days after the first day of the semester,
provided all of the additional steps have been completed and enrollment is for at
least 6 credits of coursework that apply towards the current academic program.
- Work-study 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
Repayment of Federal Aid Due to Withdrawal
If you withdraw (officially or unofficially) from classes at any time during the semester,
a portion of the federal aid you received for that term may have to be repaid to its
- Official withdraw – you withdraw from your class after the add/drop date but prior
to or on the last date to withdraw for the class
- Unofficial withdraw – you received failing grades and/or ceased attending your entire
course schedule in a given term.
This is determined through a required Return of Title IV Funds (R2T4) calculation.
An R2T4 calculation can take up to 30 days to complete from the date your last grade
or official withdraw was posted to your student record. This R2T4 calculation process
can impact your ability to register and receive aid for the next semester.
- Funds offered for future terms are subject to cancellation when an R2T4 calculation
- The entire financial aid Return of Title IV Funds Policy is available from the Financial
IMPORTANT NOTE: You will be placed on Financial Aid ineligible status as a result
of withdrawing (officially or unofficially) from all attempted courses.
Your Rights and Responsibilities
You have the right to…
- receive factual information about costs, aid opportunities, program policies, etc.,
through publications, correspondence, and online services.
- confidentiality. All financial aid information submitted to the Financial Aid Office will remain
confidential according to the College's policy regarding the release of information
from student records pursuant to the Family Educational Rights and Privacy Act of
- an answer. Any questions concerning the determination of your award can be answered by a staff
member in the Financial Aid Office.
- accept all or part of the assistance offered. Award of one type of aid is not dependent upon acceptance of another.
- have your financial need recalculated if there has been a significant change in your
family financial situation. This may not necessarily result in an increase in your award.
- examine your financial aid records. You may request an appointment with a financial aid administrator. Dependent students
cannot review their parents' income information. Parents/spouses cannot view a student's
information without written consent.
- fair treatment. Aims Community College does not discriminate on the basis of race, color, sex, national
or ethnic origin, physical or mental disability, veteran status or age.
- other consumer information. See the Aims Community College website at www.aims.edu/about/know.
You are responsible…
- along with your parents, if you are a dependent student, for meeting your college
costs. Financial aid may be available when your resources are not sufficient to meet those
- for supplying complete and accurate information on all forms submitted. Funds obtained on the basis of false or misleading information must be repaid, could
result in criminal prosecution, prison sentence and/or $10,000 fine pursuant to U.S.
Criminal Code and Colorado Criminal Code.
- for reporting any assistance received from sources other than the Aims Financial
- for submitting all requested documentation in a timely manner or by the date indicated.
- for reporting any change in circumstances that might affect your eligibility for
financial aid. These changes include change in address, enrollment status (withdrawing from a class
or from school), class standing, increase or decrease of financial resources and marital
- for using financial aid funds for expenses related to your attendance at Aims Community
- for repaying all types of loan assistance. You must inform lenders of any changes in your name, address or enrollment status
while you are attending school or after you leave or graduate.
- for being aware of all conditions that relate to the receipt of your financial aid.
- for meeting the Standards of "Financial Aid Satisfactory Academic Progress" viewable through your myAims account.
- for checking your financial aid satisfactory academic progress status at the end of each semester using your myAims account.
- for checking your tuition account balance, financial aid awards, and outstanding requirements on a regular basis using your myAims account.