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Awarding Process


Verification

Verification is the process of confirming that information reported by you and your parents or spouse on the FAFSA is accurate. If selected for verification, the Office of Financial Aid will notify you through your MSU Denver email account.

If selected for verification, a copy of your, your spouse's (if applicable), and your parents' (if considered to be a dependent student) U.S. IRS Income Tax Returns, W-2 forms, and/or other information must be submitted to our office. By signing the FAFSA, you have agreed, if asked, to provide information that will verify the accuracy of your completed form. If this information is not provided, you will not receive financial aid. If you were awarded and received financial aid based on incorrect information, you will have to repay the funds.

Metropolitan State University of Denver is a participant in the U.S. Department of Education's Quality Assurance Program. Quality Assurance is an extensive version of verification that is designed to gather information about the delivery and administration of the federal student financial aid programs. If the student is selected for Quality Assurance, additional information will be required. If this information is not provided, the student must repay all financial assistance received for that academic year. The results of the Quality Assurance Program are used to improve the student aid process across the country.

For information about completing verification requirements and how to use the IRS Data Retrieval Tool, download this document: Completing Verification Requirements 

Acceptable Tax Documentation

Students who are selected for verification in the 2015-2016 aid year are required to submit 2014 Tax Return Transcripts. Tax Return Transcripts must be requested from the IRS after taxes have been filed. You can request a Tax Return Transcript by calling 1-800-908-9946 or by visiting this IRS link. Please note that for the 2015-2016 aid year the Office of Financial Aid is not accepting the paper 1040 tax return you fill out and initially turn in to the IRS nor is the office accepting Account Transcripts. When you contact the IRS for the appropriate form, please remember to request a Tax Return Transcript. Below are examples of the acceptable and unacceptable forms.

 

ACCEPTABLE 

UNACCEPTABLE  

 Sample Tax Return Transcript  Sample 1040 Tax Return Form
 

 Sample Account Transcript  

 

As of  the 2014-2015 aid year, students and parents who are involved in legal same-sex marriages must submit a copy of their marriage certificate or Certificate of Civil Union to the Office of Financial Aid and Scholarships in order for their spouses to be counted in the household. Married students and parents, if applicable, are also required to report both incomes, regardless of the ability to file federal taxes as married.

Per FAFSA notes for questions 16 and 17: “Consistent with the Supreme Court decision holding Section 3 of the Defense of Marriage Act (DOMA) unconstitutional, same-sex couples must report their marital status as married if they were legally married in a state or other jurisdiction (foreign country) that permits same sex marriage, without regard to where the couple resides.”

Per federal guidelines, MSU Denver is not able to consider same-sex couples for common-law marriage.

How Your Eligibility (Need) Is Determined

The federal government’s basic premise for all need-based financial aid is that you (and/or your family) have the primary responsibility for financing your education. The federal government uses a formula called Federal Methodology to evaluate your (and/or your family’s) financial strength. The government considers all information provided on the FAFSA including income, assets, number of family members, and number of family members in college.

The federal government uses the FAFSA to calculate your eligibility for the Federal Pell Grant by determining the amount of your Expected Family Contribution (EFC). If your EFC is below a certain number, you will be eligible for a Federal Pell Grant, provided that you meet the other eligibility requirements.

The difference between your student budget (as determined by the Office of Financial Aid) and your Expected Family Contribution (as determined by the federal government) is your eligibility for need-based financial aid. Need-based aid can include Federal Pell Grant, Colorado College Responsibility Grant, Supplemental Education Opportunity Grant, Colorado Work-Study, Federal Work-Study, Perkins Loan, and Subsidized Federal Stafford Loans.

BUDGET - EFC = GROSS NEED

When you receive any form of financial aid/educational resources, your need is reduced by the amount of aid and/or educational resources. If the unmet need is low, the rest of the Budget can be met with No Need aid.

BUDGET - EFC - RESOURCES - AID = UNMET NEED

If your EFC is higher than the Budget, you are only eligible for No Need aid. This can include No Need Work-Study and Unsubsidized loans. 

Other outside sources of aid can contribute to determining your need. Such awards may include: Tuition and Fees assistance, Vocational Rehabilitation Assistance, Veteran's Benefits, Americorps, and Scholarship. Please see a Financial Aid Counselor to determine if additional documentation or forms are required to complete your financial aid file. Required forms that are not submitted may hold up the processing of your financial aid file.

Student Budgets (Cost of Attendance)

The Office of Financial Aid determines your budget by using State of Colorado guidelines and federal regulations. Because each student has different expenses, each budget has a miscellaneous amount calculated into the total budget. The budgets are first separated by College Opportunity Fund (COF) eligible and Non-Residents. Then, the budgets are broken down further by Commuter and Approved Budgets. If you are given the Commuter Budget, you can provide the Office of Financial Aid with a copy of a lease or mortgage statement showing your monthly payment and we will determine if we are able to change your budget. If you do not have a lease agreement and pay rent, you must provide 4 months of payment verification (cash payment is not acceptable) before we change your budget to the Approved budget.

 

BUDGETS FOR THE 2017-2018 ACADEMIC YEAR

 

Type of Student Expense

Amount if you are a Resident and have an approved lease

RESAPP

Amount if you are a Resident and live and do not have an approved lease

RESCOM

Amount if you are a Non-Resident and have an approved lease

NRAPP

Amount if you are a Non-Resident and do not have an approved lease

NRCOM

Tuition & Fees

See chart

See chart

See chart

See chart

Books & Supplies

See chart

See chart

See chart

See chart

Room & Board

$10.332

$4,428

$10,332

$4,428

Transportation

$1,665

$1,665

$1,665

$1,665

Health Insurance

$3,000

$3,000

$3,000

$3,000

Loan Fees

$72

$72

$72

$72

Miscellaneous *

$1,360

$1,206

$1,360

$1,206

Total

$16,429 +
Tuition & Fees + Books Based on Enrollment

$10,371 + Tuition & Fees + Books Based on Enrollment

$16,429 + Tuition and Fees + Books Based on Enrollment

$10,371 + 
Tuition and Fees Based on Enrollment

* Miscellaneous costs include such expenses as clothing, laundry, medical, dental, and recreation. These expenses may vary depending on the individual student’s lifestyle.

 

TUITION AND FEES BASED ON ENROLLMENT LEVELS FOR 2017-2018 ACADEMIC YEAR

 

Tuition and Fees for Enrollment Levels per term

Amount if you are a Resident and have an approved lease

RESAPP

Amount if you are a Resident and live and do not have an approved lease

RESCOM

Amount if you are a Non-Resident and have an approved lease

NRAPP

Amount if you are a Non-Resident and do not have an approved lease

NRCOM

12+ credits (Full Time)

$3,677

$3,677

$10,075

$10,075

11 credits (¾ Time)

$3,383 $3,383 $9,249 $9,249
10 credits (¾ Time) $3,109 $3,109 $8,441 $8,441

9 credits (¾ Time)

$2,834

$2,834

$7,663

$7,663

8 Credits (Half Time)

$2,559 $2,559 $6,825 $6,825
7 Credits (Half Time) $2,284 $2,284 $6,017 $6,017

6 Credits (Half Time)

$1,997

$1,997

$5,197

$5,197

5 Credits (Less than Half Time)

$1,696

$1,696

$4,362

$4,362

4 Credits (Less than Half Time)

$1,421 $1,421 $3,554 $3,554
3 Credits (Less than Half Time) $1,136 $1,136 $2,736 $2,736
2 Credits (Less than Half Time) $861 $861 $1,928 $1,928
1 Credit (Less than Half Time) $587 $587 $1,120 $1,120

0 Credits (Less than Half Time)

$0 $0 $0 $0

 

BOOKS AND SUPPLIES BASED ON ENROLLMENT LEVELS FOR 2017-2018 ACADEMIC YEAR

 

Tuition and Fees for Enrollment Levels per term

Amount if you are a Resident and have an approved lease

RESAPP

Amount if you are a Resident and live and do not have an approved lease

RESCOM

Amount if you are a Non-Resident and have an approved lease

NRAPP

Amount if you are a Non-Resident and do not have an approved lease

NRCOM

Full Time (12+ credits)

$700

$700

$700

$700

¾ Time (9-11 credits)

$525

$525

$525

$525

Half Time (6-8 Credits)

$350

$350

$350

$350

Less than Half Time (1-5 Credits)

$175

$175

$175

$175

 

The Office of Financial Aid will attempt to meet each student’s need, but cannot guarantee that each student’s need will be met.

INCREASE in Budgets can be made for the following: (Forms are available from our "Forms" Section of the Website.)

  • If you have children, your budget may include childcare expenses. (CHILD Form)

  • If you are enrolled in aerospace classes, brochures are available in the Office of Financial Aid. (AERO Form)

  • If you incur extreme medical expenses, our office may increase your budget or reduce your EFC depending on the year the expenses occurred. (MEDCAL Form)

Calculating Your Need

This is an example of a calculation of need.

Your Expected Family Contribution (EFC) is determined to be $2,500 and you live at home with your parents. You are classified as an independent sophomore.

Example Budget: $11,465
EFC: $2,500
Eligibility (Unmet Need): $8,965

When you are packaged you will be eligible for a Federal Pell Grant and a Federal Stafford Loan. We will award the need-based aid of:

Pell Grant $1,600
Subsidized Loans $4,500

The remaining unmet need that cannot be met with other need-based aid will be met with Unsubsidized Loans. As an independent sophomore you qualify for a total of $10,500 in subsidized and unsubsidized loans. Since, you have already received the $4,500 in subsidized loans, you will be awarded $3,000 in unsubsidized loans.

Example Budget: $11,465
Total Need-based Aid Awarded: $6,100
Unsubsidized Loans: $5,365

MSU Denver Packaging Policy

The Office of Financial Aid’s packaging policy is based on the University’s commitment to award as much funding as possible to meet an applicant’s full financial aid eligibility. Since both the state and federal governments provide limited funding to fully meet the eligibility of all applicants, priority is given to aid applicants who meet the following criteria and who have completed the following steps:

  • The FAFSA or Renewal Application is received by the processor early enough for the student’s financial aid file to be complete prior to the packaging of on-time aid.
  • The student is admitted to the University as a degree-, licensure- or certificate-seeking student.
  • The student is not in default on any loans.
  • The student does not owe an overpayment on a grant.
  • The student is a U.S. citizen or an eligible non-citizen.
  • The student has received a high school diploma or GED.

Students who meet these criteria are then ranked in order of Expected Family Contribution (EFC). Students who have the lowest EFC's are placed in need order and will be first priority to be awarded Need-based aid. Funds are awarded in the following sequence of aid programs and in full compliance with the federal and state regulations that apply to each program until all funds are awarded. In the event of funding or policy changes, the awards you receive may be adjusted to comply with new funding levels or policies.

  • Federal Pell Grant*
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Colorado College Responsibility Grant (CCRG)
  • Federal and State College Work-Study
  • Federal Perkins Loan (PERK)
  • Federal Stafford Loans* (SDL, UDL)

*The amounts of your Federal Pell Grant and Federal Stafford Loans are not affected by the date you apply for financial aid or the date your file is completed AS LONG AS YOU APPLY BY THE PUBLISHED FEDERAL DEADLINES FOR THE FAFSA. Once all state and federal funds have been allocated, your package may include only a Federal Pell Grant and/or Federal Stafford Loan if you are eligible to receive these funds.

NET PRICE CALCULATOR TOOL: Is a tool that you can use to estimate your “net price” to attend a particular college or university. Net price is the difference between the “sticker” price (full cost) to attend a specific college, minus any grants and scholarships for which you may be eligible. Sticker price includes direct charges (tuition and fees, room and board) and indirect costs (books and supplies, transportation and personal expenses). For an ESTIMATED net price, please use the following link: http://www.msudenver.edu/net-price-calculator 

The Office of Financial Aid and Scholarships will not create award packages for students who are not making SAP (Satisfactory Academic Progress). Students not making SAP will need to submit an appeal and have it approved before they will be awarded aid.


 


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