Grants and Scholarships

Mines assumes all grants and scholarships are accepted.  You do not need to take any additional steps to accept a grant or a scholarship.  

Student Loans

You must accept Terms and Conditions in Trailhead every year before you have the option to accept loans.  Once Terms and Conditions are accepted, the “Accept Award Offer” tab becomes available.  You must accept your loan(s) every year in Trailhead.  You can change your decision on a loan by contacting the Financial Aid Office.  

Parent Loans

Parents must apply for a federal Parent PLUS Loan each year.  Once the loan application has been certified by Financial Aid, the loan will display in Trailhead as an accepted loan.  You cannot apply or accept parent loans in Trailhead.  You can change your decision on a loan by contacting the Financial Aid Office.  

Work Study

Work study awards are automatically accepted.  To access your work study funds, you must submit a work study contract to your on-campus job.  Students not employed by October 1st will have their work study award removed.  If you are awarded work study and do not plan to work on campus, or if you were not awarded and would like to be considered, please contact the Financial Aid Office.  

Funds pay to billing accounts on a semester basis.  Payment for the semester begins 3 days prior to the first day of class.  With the exception of work study, all requirements must be met for aid to pay.

Grants and Scholarships

Federal, Colorado, and Mines grants and scholarships credit directly to your billing account at the beginning of each term.  Outside scholarships are credited after the check is received.  You can see which outside scholarship has been received in Trailhead under “Additional Resources.”  It will say “Paid” next to the name of the scholarship with a zero expected amount.  If you have a balance due equal to the amount of a reported outside scholarship and the check is received after the bill is due, financial aid will ask the Bursar Office for a late fee waiver. Please note that it is assumed, unless stated otherwise, that the scholarship is meant for the entire year, meaning that it will be disbursed in two equal payments from the total amount.

Student Loans

Federal loans (subsidized/unsubsidized) credit to your billing account at the beginning of each term if all requirements are satisfied (except work study).  You must have completed Entrance Counseling and have an active Master Promissory Note (MPN) on file at studentaid.gov.  The loan disbursement amount is less than the accepted amount due to the federal 1% origination fee.

Alternative/Private student loans credit to your billing account at the beginning of each term, but no less than approximately two weeks after the loan is certified by Mines.

Parent PLUS Loans

Federal parent PLUS loans credit to your billing account at the beginning of each term.  The parent must successfully complete a credit application at studentaid.gov each year and have an active PLUS Master Promissory Note (MPN) on file.  The loan disbursement amount is less than the accepted amount due to the federal 4.3% origination fee.

Work Study

Work study is earned as a paycheck; it does not go to your billing account.  When you work an on-campus job, you will enter a timesheet through Workday.  Your earnings are paid by electronic deposit to your personal bank account, semi-monthly, based on the hours you work.  If you do not begin work by October 1, your award will be cancelled.  You can request to be placed on the wait list for future work study earnings.

Not Attending

If you receive financial aid but never begin attending classes, the Financial Aid Office must return all disbursed funds to the respective federal, state and institutional aid programs.

You can make adjustments to your loan(s) by contacting the Financial Aid Office.  To reduce or cancel any loan, send an email to finaid@mines.edu from your Mines email address.  Including your CWID, the name of the loan, and the amount of the reduction.

If you previously rejected a federal student loan or accepted a reduced amount, you can ask for the Financial Aid Office to re-offer the maximum loan through email.  Using your Mines email address, include your CWID and the name of the loan you would like offered. 

To increase a private loan, first ensure you have eligibility in your Cost of Attendance by checking Trailhead or asking the Financial Aid Office.  The request for an increase must go through your private loan servicer.  To increase a parent PLUS loan, first ensure you have eligibility in your Cost of Attendance by checking Trailhead or asking the Financial Aid Office.  The request for an increase must be completed at studentloans.gov.  

You can receive financial aid above your bill (up to the total Cost of Attendance budget).  The credit balance, shown as a negative balance on your “My Account Page,” will be refunded.  Refunds are processed by the Mines Bursar Office. 

To receive a refund, students must enroll in eRefund and request the refund through Trailhead.  If the credit balance is caused by a federal Parent PLUS Loan, the refund will be processed according to what the parent requested on the PLUS Loan application; it will either be a check mailed to the parent or an electronic transfer (ACH Refund) to the student’s eRefund account.  The Bursar Office processes refund requests beginning the first day of class each semester.