This information is offered for advisory purposes only. It is based on Colorado law (Senate Bill 04-189) and preliminary information provided by various State agencies. At this time, no final rules and regulations have been established by any State agency, or by the Colorado School of Mines.

Questions and Answers

Q. When will this program be effective?
A. The College Opportunity Fund (COF) stipends will be available for the 2005-2006 academic year, starting July 1, 2005. The program is NOT in effect for the 2004-2005 academic year.

Q. For what students is this program available?
A. Undergraduate students who are classified as Colorado residents for tuition purposes are considered eligible students. This applies to both current undergraduates as well as new students who will first enroll in the Fall of 2005.

Q. Is the COF stipend available for graduate students?
A. No, the COF program is only for undergraduates.

Q. Can an out-of-state student qualify for the COF?
A. Eligible students are those who are classified as Colorado residents for tuition purposes. Even if you live and attend a high school in another state, or another country, it is possible to be classified as a Colorado resident. Such situations could include a military station outside of Colorado, having a divorced parent who is a Colorado resident, being a permanent Colorado resident but having a parent who is employed in another country (and that is where the family resides), etc.

Q. What is the purpose of this program?
A. As stated in the law, the program is designed to "increase citizens' awareness of the value of and need for a postsecondary education, and … make citizens aware of the financial support provided by the general assembly to students and institutions of higher education." In other words, the Legislature believes that students will be more likely to consider postsecondary education if they know that there is financial support from the State for their educations.

Q. What IS this program?
A. The COF stipend is a new method of providing Colorado general fund monies to higher education institutions in Colorado. In the past, the state legislature provided the equivalent of a block grant to schools; now, schools will be paid by the State based on individual students' credit hour enrolment (not a fixed, standard amount for each semester).

Q. Will this amount be an actual reduction of tuition?
A. Not really. In the past, the state support for CSM was received as a block grant, and served to subsidize all resident students' tuition, so the actual tuition charged was a "net" amount. Now that the state funds will be received for each individual student based on their credit hour enrolment, and will be shown as a credit to the student's tuition account, the nominal or "sticker price" tuition charge will be increased by an equivalent amount to the stipend. The net amount to the student should be the same as under the old method.

Q. How do students apply for this stipend?
A. Students will apply on-line at a web site run by the College Access Network (formerly the Colorado Student Loan Program), who has been designated as the state agency which will manage the applications and payments for the COF program. The web site should be available in January, 2005.

Q. Is there a limit on how many credit hours a student can take?
A. The COF stipend is paid on a per-credit-hour basis. There is no semester or yearly limit on credit hours for which a student can receive the stipend, but there is a lifetime limit of 145 semester credit hours for which the stipend can be paid. Students exceeding 145 credits can apply for a waiver of this limit.

Q. Can a student enroll for a second undergraduate degree?
A. Yes, a student can enroll for a second degree. However, the COF stipend can only be used for a maximum of 30 credit hours beyond the first baccalaureate degree.

Q. What happens if a student withdraws from a course, or from the entire semester?
A. The COF stipend will be determined by the student's credit hour enrolment at the end of the course add/drop period. If students subsequently withdraw from a course, or from the entire semester, their stipend will still be paid against applicable tuition charges, but those credit hours will count toward the maximum of 145.

For further information, please e-mail COFquestions@mines.edu.