Colorado Mesa University

Grants and Loans

Grants do not have to be repaid and will be credited to your account automatically after you have enrolled in the correct number of credit hours to coincide with your award status. Loans must be repaid to the guarantor. If you have questions about any financial aid offerings, please contact the Financial Aid Office at 970.248.1396.

Loans »

Three types of loans are available to qualified students: Federal Perkins, Subsidized and Unsubsidized Stafford, and Federal Loan Parent Program (PLUS) loans.

Federal Perkins Loans: are available to new or currently enrolled students based upon the recipient’s financial need. No interest accrues while the student is in school or during the grace period. The interest rate is 5.00 percent. Repayment on the Perkins Loan begins nine months after the student leaves school or drops below six credit hours.

Federal Stafford Loans: are low-interest loans made to students who are enrolled in school at least six credit hours. Currently, the interest rate is 4.29 percent for loans disbursed after July 1, 2010. Repayment begins six months after you graduate, leave college, or are no longer enrolled in at least six credit hours. There are two types of Stafford Loan: subsidized and unsubsidized, both loans must be paid back by the student.

A Subsidized Federal Stafford Loan is based on financial aid eligibility (determined by the FAFSA). The government pays the interest while the student is in school. The interest rate is currently 6.8 percent.

An Unsubsidized Federal Stafford Loan is not need-based, which means a student at any income level can receive the loan. The student is responsible for the interest on the loan while in school, during the grace period, and any authorized deferment periods. The student may also choose to postpone payment of interest while in school and during the grace period by having the interest accrue. Any unpaid interest will be capitalized (added to the principal) at repayment. Unsubsidized Stafford loans are available to Graduate students at a rate of 5.84 percent.

The Federal Loan Parent Program (PLUS): provides a low interest loan for parents of dependent students for costs related to their education. The interest rate is currently 6.84 percent.

Grants »

Federal Pell Grant

Funded by the federal government and awarded to resident and non-resident undergraduate students who have not yet earned a bachelor’s degree. Funds are available to students demonstrating financial need
according to federal regulations.

Credit hours may vary:
12+ credit hours: Student will receive 100 percent of their eligible award.
9 - 11 credit hours: Student will receive 75 percent of their eligible award.
6 - 9 credit hours: Student will receive 50 percent of their eligible award.

Colorado Student Grant

State funds made available to Colorado residents with documented need. Student must be enrolled in 12 credit hours per semester to receive this grant.

Supplemental Educational Opportunity Grant (SEOG)

Funds are extremely limited in this grant and are awarded to students with exceptional need. Student must be enrolled in 12 credit hours per semester to receive this grant.


This grant is available to graduate and undergraduate students who will agree to serve as a full-time teacher at specified schools and teach in a specified field for four academic years within eight years after completing the college course. TEACH Grant recipients who do not fulfill their teaching obligations must repay the grant as if it was an unsubsidized direct loan. We highly recommend you read more about this program before you accept your TEACH grant. Learn more.

Work Study Awards

Federal/Colorado Work-Study

Federal and state funds available to students for part-time employment to help offset educational costs. Student must be enrolled in 12 credit hours per semester.

No-Need Work-Study

State funds made available to assist Colorado resident students that are not eligible for need-based financial assistance. Student must be enrolled in 12 credit hours per semester to receive Work-Study.