The Colorado College Board of Trustees approved a tuition increase for the 2018–2019 academic year. Tuition will increase from $52,818 to $54,996, raising the comprehensive cost of attendance to approximately $71,642 from the 2017–2018 cost of $68,618. Individuals’ total cost is subject to change based on students’ living arrangements, meal plan choice, home-state, and other costs such as travel, books, and supplies.
In a campus-wide email update on the February board meeting, President Tiefenthaler noted that the tuition increase will contribute to the 2018–2019 three percent increase in the faculty and staff salary pool. This tuition increase continues the trend of annual tuition increases in recent years. The approximate cumulative cost of attendance for current seniors during their first year at CC was $60,500.
Despite the developing trend of tuition increases, CC remains committed to their needs-met policy. CC meets 100 percent of students’ financial needs in the form of grants and federal loans as determined by the Free Application for Federal Student Aid and information provided to the Office of Financial Aid upon applying.
Loans may increase throughout a students’ time at CC according to federal regulations, which set the loan maximums at $5,500 for first years, $6,500 for second years, and $7,500 for third and fourth years. The differences in loan maximums relate to the increased probability of graduation with every successful year completed.
For rising juniors and seniors, their chances of graduation increase are positively reflected in the increased amount of federal loans available to individuals. Thus, the 2018–2019 increase in tuition will not negatively impact students’ financial aid packages as the difference in need will be made up through additional grants and loans.
For example, if a family’s estimated contribution was set at $30,000 during the 2017–2018 year and the tuition increase for the 2018–2019 academic year raises their determined need to $33,000, that $3,000 difference will be provided to students in the form of additional grants and loans.
Nevertheless, the CC needs-met policy is not to be confused with the semi-common needs-blind policy of other schools. When applicants apply to CC, they are asked whether they are applying for Financial Aid. The yes/no answer is taken into consideration by the admissions committee. Specific numbers, however, are not referenced except in extreme circumstances. The select number of merit scholarships are determined by admissions, separately from the consideration of financial aid packages. This Chinese wall between the admissions office and the financial aid office ensures fair distribution and award without bias to families’ financial situations.
For more information about your own personal package, please contact the office of Financial Aid.