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 | | What is a stipend? "Stipend" means the amount of money per credit hour paid by the state of Colorado on behalf of an eligible undergraduate student who is attending a state or a participating private college or university in the state of Colorado. The first time an eligible undergraduate student received a stipend was for the fall semester of the 2005-2006 academic year.
The specified amount of the stipend per credit hour is set annually by the Colorado General Assembly. The amount will never exceed the student's total in-state tuition. The value of the per credit hour stipend will be the same for each eligible undergraduate student regardless of the state college or university the student attends.
If an eligible undergraduate student attends aparticipating private college or university in the state of Colorado, the per credit hour amount is fifty percent (50%) of the annually set stipend amount.
Total stipend hours per student, per semester, are determined by the school and reported to the College Opportunity Fund (COF). COF matches student information with Stipend Application Account information in its database (the information you provide when creating a stipend account) and disburses the stipend amount directly to colleges and universities on behalf of those eligible undergraduate students identified by the school.
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| | | Who is eligible?
If you attend a public college or university:
Undergraduate students enrolled at state colleges and universities are eligible if they are classified as in-state students for tuition purposes.
If you attend a participating private college or university:
Undergraduate students enrolled at participating private colleges or universities may be eligible if the college or university is approved for the program by the Colorado Commission on Higher Education and the student: - Is classified as an in-state student for tuition purposes;
- Is a graduate of a Colorado high school or has successfully completed a non-public home-based educational program in Colorado;
- Financially eligible by demonstrating financial need through the student's eligibility for the federal Pell Grant, or its successor program;
- Is not pursuing a professional degree in theology; and
- Meets any other eligibility requirements established by the Colorado Commission on Higher Education (CCHE).
Note: "Eligible Undergraduate Student" does not include a student enrolled in an off-campus, extended campus, or continuing education class not supported by state general fund moneys, except as approved by CCHE.
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| | | At which colleges can I receive the College Opportunity Fund stipend credit? The following four year public colleges: - Adams State University
- Colorado School of Mines
- Colorado State University
- Colorado State University-Pueblo
- Fort Lewis College
- Colorado Mesa University
- Metropolitan State University of Denver
- University of Colorado Boulder
- University of Colorado Colorado Springs
- University of Colorado Denver
- University of Northern Colorado
- Western State Colorado University
The following two year colleges: - Arapahoe Community College
- Colorado Northwestern Community College
- Community College of Aurora
- Community College of Denver
- Front Range Community College
- Lamar Community College
- Morgan Community College
- Northeastern Junior College
- Otero Junior College
- Pikes Peak Community College
- Pueblo Community College
- Red Rocks Community College
- Trinidad State Junior College
The following private colleges: - Colorado Christian University
- Regis University
- University of Denver
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| | | Why do I have hours reported as used in my Stipend Account if the College Opportunity Fund did not begin until Fall 2005? The law that created the College Opportunity Fund stated that for an eligible undergraduate student enrolled in college as a continuing student as of July 1, 2005 the Colorado Commission on Higher Education (CCHE) must determine the number of credit hours that student has already earned. If you were enrolled in a state college or university for either Fall 2004 and/or Spring 2005 your class level was reported by your college to CCHE and those hours appear on your Stipend Account as "Hours used prior to fall 2005." CCHE determined the number of hours earned by assigning each continuing student a class level and each class level a number of credits used, as follows: | Class Level | Hours Used | | Freshman | 0 | | Sophomore | 30 | | Junior | 60 | | Senior | 90 | |
| | | How old do I have to be to apply for the College Opportunity Fund? You can apply for the College Opportunity Fund if you are thirteen years or older. |
| | | How does my college know that I have applied for the stipend? Your college will send us a file containing the names of students who are enrolled each semester. The COF system will process this file and return it to the school. This file will let the school know which students have completed a stipend application and which students still need to apply. |
| | | I've completed the Stipend Application -- is there anything else I have to do? Completing the Stipend Application is all you need to do to apply for the Stipend. The college(s) you attend may require additional documentation to determine your eligibility. Your college will let us know you are enrolled and the number of eligible stipend credit hours you are taking each term (beginning fall 2005). We will send the stipend amount on your behalf to your college to apply against your total in-state tuition charges each term. You will see the College Opportunity Fund Stipend credited against your total in-state tuition charge on your bill. |
| | | Do I have to reapply each year? No. You only apply once. When you complete the stipend application you create an account with 145 available undergraduate hours. You can receive stipend funding for these hours at any participating college in the state of Colorado. |
| | | I am transferring from one college to another. How do I transfer my College Opportunity Fund account to my new college? When you applied for the stipend and created your COF stipend account, we did not ask you for any college information. That's because students transfer from one college to another, or take classes at more than one college during a semester. You can use your stipend funding as long as you are enrolled in a Colorado public college or private college that is participating in the stipend program. When you register for your classes you authorize your college to request the stipend funding on your behalf. Your authorization is the trigger for your college to request the funding from your COF stipend account. |
| | | What is authorization? How do I do it? You authorize your college to request the stipend funding on your behalf from your COF stipend account. Authorization is done when you register for your classes and is part of the registration process on the college's registration screens. If you have any problems finding this information or if you have registered for classes but do not know if you have authorized the college to request your COF stipend, contact your college. |
| | | Will the College Opportunity Fund pay for all of my courses? No, the following courses will NOT be paid for by the College Opportunity Fund: - international baccalaureate courses;
- advanced placement courses.
- Off-campus, extended campus, or continuing education classes not supported by state general fund moneys, except as approved by CCHE.
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| | | What will the College Opportunity Fund pay for? What do I pay? Your college or university bill will show the total in-state tuition, the amount paid by the fund (the state's share) and the portion for which you are personally responsible (the student's share). You will pay the total in-state tuition minus the portion paid by the College Opportunity Fund and minus any financial aid you receive. |
| | | I am a transfer student, am I eligible for the College Opportunity Fund? If you are an undergraduate student transferring from an out of state college to a public college or university in the state of Colorado and are determined by the college to be a Colorado resident you are eligible for the College Opportunity Fund. |
| | | Can I attend more than one college and receive the College Opportunity Fund stipend at each college that I attend? Yes, but you need to apply, be admitted to and register at each eligible college you want to attend. Each college then must verify your enrollment and the number of credit hours you are taking at that college. The hours taken at each college count against the maximum number of hours (145 credit hours) covered by the College Opportunity Fund. |
| | | Will the stipend pay for all of my in-state tuition? No, the stipend only covers an amount set each year by the legislature. The student still must pay the remainder of in-state tuition. You will need to check with the college or colleges where you plan to enroll to determine what your portion of in-state tuition will be. |
| | | How much is the College Opportunity Fund stipend worth? - The amount is determined each year by the Colorado Legislature. The amount of the stipend is currently $62 per semester credit hour for eligible students attending participating public colleges and $31 per semester credit hour for eligible students attending participating private colleges. The stipend amount will remain the same through Summer 2013 for students who attend a semester based college or through Quarter 4 2013 for students who attend a college on a quarter based system.
- The amount for academic year 2013-2014 has been set at $64 per semester credit hour for eligible students attending participating public colleges and $32 per semester credit hour for eligible students attending participating private colleges. The stipend amount will begin with the Fall 2013 semester and remain the same through Summer 2014 for students who attend a semester based college or from Quarter 1 2013 through Quarter 4 2014 for students who attend a college on a quarter based system.
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| | | How many credit hours will be paid for by the stipend? The law creating the College Opportunity Fund caps a student's stipend at 145 credit hours. However, there are exceptions and waivers that can be granted by the college and by the Colorado Commission on Higher Education (CCHE). Colleges and CCHE will develop policies to inform students about the exceptions and how to apply. In addition, if the student has exhausted the maximum 145 stipend credit hours and has received a bachelor's degree, the student is still eligible to receive stipend payments for an additional 30 hours of undergraduate credits. |
| | | What if I go over the cap (145) hours, who should I talk with and what is the process? If the student goes over the 145-hour lifetime-credit-hour cap, the student may apply to the college for a one-time, one year waiver. If the school cannot grant a waiver or the student needs additional hours to complete an undergraduate degree, the student can then apply to CCHE for a waiver. The law allows for CCHE to grant waivers to a student: - If there are extenuating circumstances related to the student's health or physical ability that restrict a student's ability to complete the degree program within the 145-credit-hour limit;
- If the degree program, as approved by the college or CCHE, requires more hours to complete than the 145 credit hour limit allows;
- If the student is enrolled in a specific degree program and CCHE approves and the college changes a specific program's degree requirements or standards; or
- If requiring that an eligible undergraduate student pay the full amount of total in-state tuition for credit hours that exceed the limitation causes substantial economic hardship for the student or the student's family.
Your college will have information on how to apply for these waivers. |
| | | How do I apply for the College Opportunity Fund? You can apply for the stipend by completing the on-line Stipend Application on this website or by completing the paper application located at the bottom of the home page. |
| | | Do I have to let my college know that I am attending? Yes, you need to apply, be admitted, registered and authorized as an eligible recipient at each state or a participating private college or university where you want to use your College Opportunity Fund stipend. |
| | | How is the College Opportunity Fund different from state funding in the past? Public Colleges have historically received funding directly from the state of Colorado in the form of a general fund subsidy to educate in-state higher education students based on a full-time-equivalent student formula. This funding method changed beginning July 2005 when the College Opportunity Fund stipend went into effect. The stipend for eligible undergraduate students now goes to the college on behalf of the student and the amount is based on the number of credit hours the student registers for each semester. |
| | | Does the College Opportunity Fund replace financial aid? The College Opportunity Fund is a payment made directly to your college on your behalf to cover part of the cost of your total in-state tuition. The stipend does not cover your share of total in-state tuition. Any financial aid you receive will be applied to your share of in-state tuition. The College Opportunity Fund stipend is not a grant and does not impact your eligibility for student financial aid. The College Opportunity Fund is not a loan and does not have to be repaid. |
| | | Will a check be sent to me? No, the College Opportunity Fund stipend goes directly to the college or colleges where you have enrolled. The stipend will be applied directly to your student account. You will be able to see how many credit hours of the 145 limit you have used by accessing your Stipend Account at COF. This will help you plan your higher education to best use the stipend credit hours. |
| | | What if I attend a college or university that is on a quarter system? If you attend a college that is on a quarter system, your credit hours will be converted to semester credit hours prior to your college requesting payment on your behalf each term. For example, 45 credit hours for a quarter system school would equal 30 credit hours for a semester system school. |
| | | Where do I go if I have additional questions about College Opportunity Fund or this web site? Click on the "Contacts" link at the top of the page to contact someone at College Assist by e-mail or by phone. College Assist (formerly Colorado Student Loan Program) has been designated by the Colorado legislature to administer and maintain the College Opportunity Fund program and this web site. You can also read the law that created the stipend fund by clicking on "The Law" tab on the bottom of the page. |
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