How does financial aid work at UNCO?

I'm thinking about applying to the University of Northern Colorado but I'm a little worried about the cost. Can someone explain how their financial aid system works? It'd be super helpful to know what options are available.

The University of Northern Colorado (UNCO) offers a mix of financial aid options to assist in making college more affordable. There are four main types of financial aid: scholarships, grants, work-study, and loans.

1) Scholarships are an appealing form of aid because they don't need to be repaid. UNCO offers both merit-based and need-based scholarships. Merit-based scholarships are awarded according to your academic achievements, leadership, and other personal accomplishments, while need-based scholarships depend on your financial situation. Look out for institutional scholarships offered by UNCO, as well as external scholarships from other organizations or communities.

2) Grants are need-based aid that, like scholarships, do not need to be repaid. The most common type is the Federal Pell Grant, but there are also Federal Supplemental Educational Opportunity Grants (FSEOG), and the Colorado Student Grant (CSG) available to eligible students.

3) Work-study offers part-time employment opportunities for eligible students with demonstrated financial need. This way, you can earn money to cover a portion of your educational expenses.

4) Loans are borrowed funds that must be repaid with interest. While they can be an essential resource to cover gaps in paying for college, they should generally be considered as a last resort after exhausting grants, scholarships, and work-study opportunities due to the long-term financial commitment they entail.

In order to be considered for all of these types of aid at UNCO, you will need to fill out the Free Application for Federal Student Aid (FAFSA). The university uses the information provided on your FAFSA to determine your eligibility for each type of aid.

One important thing to remember about UNCO is that its priority deadline for the FAFSA and its institutional scholarship application is March 1st. Submitting your applications by this deadline can increase your chances of receiving aid.

Another key note is to review your award package carefully once it arrives, as it will detail all of the aid you are eligible for. Be sure to accept the awards you want -- and decline those you possibly don't need (particularly loans). If you have any questions about your aid package or UNCO's financial aid process in general, don't hesitate to reach out to their Financial Aid office for assistance.