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Financial aid applications spike in state
Posted: 08.25.2009 at 10:47 PM
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More students need help paying for college

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Imagine a high school student who makes the grades. In return she is accepted to the University of her dreams, only to find out her family can no longer afford to send her.

With the spike in financial aid applications at Colorado State Universities this year that scenario isn't that far fetched.

CU Boulder reported the number of financial aid applications they received this year increased by ten percent just from last year. CSU received 3,000 more applications this year than last and CSU-Pueblo said they've already seen a thirty percent spike.

It's not just freshman, but transfer students, graduate and PHD students, many who had been able to pay out of pocket, but because of the economy are now first time applicants, explained UCCS Financial Aid Councilor Brooke Koenig.

Though the amount of aid applications is alarming, universities said what they've noticed even more is an increase in the number of students requesting a "reconsideration" or "re-evaluation" of their financial aid application.

We've done more reconsideration applications so far this year than we did all of last year, explained Colorado State University's Director of Student Financial Services Sandy Calhoun.

These are students who were originally denied financial aid based on their families income in 2008, but since then their family has had some major change in financial circumstances and want to be reconsidered, said Calhoun.

This is where many of the students or their parents are including personal letters of appeal. Letters explaining their circumstances and pleading for help. Many of these families were making enough to pay for their kids' education or had saved enough, but saw it all fall with the economy.

At UCCS financial aid councilors said they're seeing more students try to piece together all sorts of financial aid options. "More students are coming in that first week of school already inquiring about becoming an R.A. [which grants them free housing]. We're also seeing a lot more requests for work study program," said Koenig.

Though these campuses are all seeing an increase in aid applications, the amount of aid they are actually giving out varies.

For more information about financial aid applications and qualifications speak with your school's financial aid office. Koenig recommends students and families who want to compare the cost of various Colorado Universities check out this website: College In Colorado 

 

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