Help based on economic needs: Help (money) offered according to the student’s economic situation, calculated by the FAFSA or Casfa. Some selective universities can use an additional request for financial aid (CSS Profile) together with FAFSA or CASFA to determine the financial need.
Financial aid: Includes scholarships, grants and/or loans offered by a university to help a student cover costs related to their education. It can be based on economic need or merits.
Institutional aid: Financial aid provided by a university from its available funds. It may include scholarships, subsidies and loans.
Help for merit: Help (money) offered according to student’s achievements, such as the average qualifications (GPA), exam results, leadership or community service.
Beca: Money that does not have to be returned and that is used to help students cover university costs. Scholarships can come from university or private organizations.
Estate: They include cash, checks in checks and savings accounts, and investments such as shares.
CASFA: Request for state financial aid. An online application for undocumented students, with DACA, TPS or that they do not qualify for federal help to request financial support in Colorado.
COF: Meaning College Opportunity Fund(University Opportunity). It is a stipend available for high school graduates in Colorado who attend a university participating in the state. This stipend consists of an amount of money for credit that the state of Colorado pays to the university on behalf of the eligible student. It is necessary for students to submit a request to receive it.
University College: It refers to post -secondary educational institutions, such as four -year -old university schools, universities, community schools, minor technical schools and schools.
Colorado ASSET: It means “helping students for a better future.” This program allows students to comply with certain eligibility criteria receive state financial aid and pay registration fees as residents in public universities of Colorado.
The requirements are: (1) having attended a high school in Colorado for at least a year before graduating or having been physically present in Colorado for at least a year immediately before completing a GED in Colorado; And (2) having been physically present in Colorado for at least 12 consecutive months before registering in the University College.
Students who meet ASSET requirements must:
- Verify with your University College and complete the ASSET application of the school.
- Complete an affidavit of the Colorado Opportunity Fund (COF), ensuring that they will seek legal residence in the United States as soon as they can do it.
- Fill the casfa to be eligible for state and institutional financial aid.
Taxpayer: Anyone who has the obligation to fill information in FAFSA and give their consent for their federal fiscal information to be shared with Federal Student Aid (includes the student). Other possible taxpayers include biological and adoptive parents, the stepfather/stepmother, and the student’s spouse.
Assistance cost:
- The total cost of university studies for the year, which includes registration, quotas, food and accommodation (on campus), housing and food (outside the campus), books, materials and other necessary personal expenses.
- The cost of assistance includes costs directly to the university and costs that the student pays to other people (such as child rental) necessary for registration at the university.
- The cost of assistance represents the maximum amount of financial aid that a student can receive.
- Students can communicate with the financial aid office of their University College to adjust their assistance cost if they have additional educational needs that are not included, such as the purchase of a computer.
DACA: Deferred action consideration for children in childhood (DACA). This program allows certain people to meet the requirements request deferred action and obtain eligibility to legally work. Students under Daca must complete the casfa.
Independent student: An independent student at FAFSA/Casfa is someone who is not obliged to report their parents’ information in the application. Verify here To determine if you are an independent student.
Dependent student: A dependent student must include the information of their parents in the FAFSA. The majority of students under 24 are considered dependent. Verify here To determine if you are a dependent student.
FAFSA: Free Federal Aid for Students. An online application that allows you to request financial help.
Priority Deadline: The date established by a university to send your request for financial aid. Generally, you can send it after this date, but send it before will increase your chances of receiving more help.
Student Aid Index (SAI): A number calculated according to the financial information provided in the FAFSA, including income, assets and family size. The SAI goes from -1500 to 999999, the lowest numbers may indicate that you are eligible for needs based on needs.
Not eligible citizen: A student who does not have American citizenship or permanent residence, but who has a immigration status that allows him to complete FAFSA to request financial assistance. Verify here To obtain the list of not eligible citizens.
Financial Aid Offer: A document sent by a university to a student (by email or by postal mail to the address indicated in its FAFSA/CASFA) that describes the amounts and type of financial aid offered, such as scholarships, subsidies, loans, jobs or other forms of financial assistance to cover the expenses of the university. It can also be known as an offer of financial aid or financial aid package.
Padre: Biological or adoptive father who must include his information in FAFSA/CASFA.
Student Portal: An online platform that offers access to academic and administrative services, such as financial aid and class registration. Generally, you can find the instructions to access your portal in the acceptance mail or in a follow -up mail sent by the university. You can also find it in the acceptance package sent to the address provided in the application.
Loan: Money you borrow and you must return with interest. Student loans can be offered by the federal government, private banks or financial institutions, or by other organizations.
Non -subsidized loan: Loan that does not take into account economic need. If you take this loan, you will have to pay interest from the moment you are given until you are paid completely.
Subsidized loans: Type of federal student loan in which you are not responsible for paying interest while you are in college. This type of loan is preferable to the non -subsidized loan because you pay less interest.
Work and study program: Type of financial aid that requires you to work to earn money that will be used for your studies. The work-study works are usually more flexible than normal part-time works and do not impact the amount of financial aid that you can receive later.
FAFSA shipping summary: A document generated after sending the FAFSA that summarizes the information provided in the application and provides an estimate of the student’s eligibility for federal financial aid, including its student aid index (SAI). It also includes your FAFSA form responses, information about the universities/schools that you included in the application and the next steps to follow.
Subsidies (Grant): Money that they offer you (generally for the federal or state government, or by the university) to help cover university expenses, and that does not need to be returned. Subsidies are mainly based on financial need.
TPS: Temporary protection status (TPS). A temporary immigration status that allows people from certain countries to live and work in the United States when they cannot return to their country due to dangerous conditions. Students with TPS must fill the CAFSA.
Legal tutor: Appointment made by a judge who authorizes a person to take care of an individual instead of the parents or in his absence. Note: Legal tutors will never be considered taxpayers in FAFSA.
Verification: Process in which the financial aid office asks you to deliver additional information (such as documentation to support the data you reported in FAFSA or CASFA) before determining your financial assistance offer.
