Financial Aid Authorizations

Why are authorizations necessary for financial aid?

Mines must obtain authorization from a student or parent borrower before using federal financial aid to pay for allowable educationally related charges, including prior year charges, other than tuition, fees, and food and housing (if the student contracts with the school).

Charges like late fees, storage locker rental fees, returned check charges, payment plan enrollment fees, and Blaster Card replacement fees could be included on the Mines bill. If you incur these types of charges, authorization is required to apply Federal Student Aid funds toward these educationally related costs.

What funds are covered by these authorizations?

Federal Student Aid (FSA) funds include:

• Pell Grants
• Supplemental Educational Opportunity Grants
• Direct Subsidized Loans
• Direct Unsubsidized Loans
• Direct Parent PLUS Loans
• Direct Graduate PLUS Loans

What time period is covered by these authorizations?

Authorizations are required each academic year (fall/spring/summer) and cover that aid year only. In the case of the authorization for prior year charges, the balance may be due to any academic year prior to the current academic year.

What happens if I decline these authorizations?

FSA funds will pay toward your Mines bill regardless of the decision you make on your authorizations. No authorization is required to pay tuition, mandatory institutional fees, and food and housing. If you have other fees on your bill and decline the authorizations, Mines will calculate your refund based on the allowable charges only. This means you may receive a refund and still owe a balance.

Example:

You have $20,000 of FSA funds for a semester. Your semester charges for tuition, fees, food and housing are $19,925. You have a storage locker fee of $75 making your total semester bill $20,000.

If you decline the authorization, you will receive a refund of $75 because you have not authorized Mines to pay for the storage locker. You will need to pay the $75 yourself. You should use your refund to make this payment.

Can I modify or cancel my authorization?

Yes, authorizations may be modified or cancelled at any time. To modify or cancel your authorization decision, email finaid@mines.edu from your Mines email address with your CWID. You must indicate which authorization you would like to adjust. A modification or cancellation is not retroactive-it takes effect on the date that the school receives it from the student or parent. If a student or parent cancels an authorization to use FSA to pay for other allowable charges, Mines may use FSA funds to pay only those authorized charges incurred by the student before Mines receives the notice.