2007-2008 Catalog (PDF) - Colorado State University-Pueblo

CSU-Pueblo
Federal Work Study
The federal work-study program is funded by the
federal government. To be eligible, students must
demonstrate financial need.
Students must complete the Free Application for
Federal Student Aid (FAFSA) to determine eligibility for
work-study. Students are selected for the program if
qualifications are met and if funds are available.
Students may work on or off-campus and may be
enrolled in undergraduate and graduate programs.
Full-Time Summer Work Study
Full-time work-study is a program designed to provide
students with employment during the summer. The
award is considered part of the annual financial aid
award offer. Continuing and new students must be
enrolled for the following fall semester. New students
may not begin working until June 1.
Students are not required to enroll for summer courses
to qualify for full-time summer work-study. However,
students who are not enrolled in at least three (3)
credit hours must contribute to the Student Employee
Retirement Plan (7.50%) and Medicare (1.45%) for
each pay period.
STUDENT LOANS
Prior to any federal education loan (Federal Stafford or
Federal PLUS) being certified by CSU-Pueblo, the
applicant must complete the financial aid application
process (including the Free Application for Federal
Student Aid).
Federal Perkins Student Loan
(Formerly titled National Direct Student Loan-NDSL) a
Federal Perkins Loan is a low-interest (5%) loan to
help exceptionally needy students pay for postsecondary
education. CSU-Pueblo must disclose the
loan disbursement and default status to a credit
bureau organization.
Students may be eligible to borrow up to a total of:
• $4,000 a year as an undergraduate if they are
enrolled in a degree program, leading to a
bachelor’s degree;
• $6,000 a year as graduate students enrolled in a
master’s degree program;
• $20,000 aggregate if they are undergraduates
working toward a bachelor’s degree; or
• $40,000 aggregate for graduate or professional
study (total includes any amount borrowed under
Federal Perkins Loan or NDSL for undergraduate
study).
Repayment of the loan begins nine months after
students cease to be enrolled half-time. Students may
be allowed up to 10 years to repay the loan. The
amount of payment depends upon the size of the debt
and the length of your repayment period.
In case of default on a Federal Perkins Loan, which
the University is unable to collect, the federal
government may take action to recover the loan.
Questions about the terms of the loan, repayment
obligations, deferment or cancellation should be
directed to the University’s Perkins Loan Servicer,
UNISA, at (800) 875-8910.
Federal Stafford Loans
The U.S. Department of Education administers several
loan programs designed to offer low-interest funding to
students and their parents who need to borrow money to
cover the costs of education. Below is a summary of the
loans available:
Federal Family Education Loan (FFEL) Program
Stafford Loans
Stafford loans are either subsidized or unsubsidized. A
subsidized loan is awarded on the basis of financial
need. The federal government pays the interest while
the student is in school and during grace and deferment
periods.
An unsubsidized loan is not awarded on the basis of
need. You’ll be charged interest from the time the loan is
disbursed until it’s paid in full. If you allow the interest to
accrue while you’re in school or during other periods of
nonpayment, it will be capitalized — that is, the interest
will be added to the principal amount of your loan, and
additional interest will be based on that higher amount.
The Federal Stafford Loan Program is intended solely to
aid students pursuing a degree in higher education.
Students should borrow only the amount they believe is
necessary to pay for educational costs. Keeping the
amount of a loan at a minimum will ease repayment.
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