Undergraduate Student Loans

Federal Undergraduate Student Loans

Mines participates in the William D. Ford Direct Loan Program (Direct or Stafford Loans) where the lender is the Department of Education, not a bank.  You will be considered for a Direct loan once we receive a completed FAFSA and you are enrolled in at least 6 credits (half-time).  Undergraduate students who are graduating in December will have a pro-rated loan offer.  Your loan will be serviced by a federally appointed company.  Most students have only one servicer who will take one payment for all your federal Direct loans.  Repayment will begin after a 6 month grace period that begins when you graduate, drop below half-time, or withdraw. There are no prepayment penalties.

Direct Subsidized Loan

The Direct Subsidized loan is a need-based loan offered to undergraduate students only.  Interest does not accrue while you are in school at least half-time, in your grace period, or in deferment.  Mines offers this loan to every student who is eligible.

Direct Unsubsidized Loan

The Direct Unsubsidized loan is a non-need based loan offered to both undergraduate and graduate students.  Students must have a completed FAFSA each year to be eligible for the loan, but, because it is not need-based, the amount offered is not influenced by income listed on the FAFSA.  Interest accrues on this loan from the time of disbursement.


How To Set Up Your Student Loans
Step 1: Accept Loans and Terms and Conditions

On Trailhead> Financial Aid card> Financial Aid Details/View your Aid, you can see the loans offered to you. There is a dropdown next to each semester a loan is offered. Make your choice to accept/reject/modify amount each semester. You can do the full year at one time; if you change your mind on the loan, contact financial aid and we can make adjustments to your decision. When you hit submit, a popup box will show you the Terms and Conditions related to federal loans. Accept those terms and conditions to save your loan choice.  

Step 2: Complete Online Entrance Counseling

If you are new to Mines or borrowing a federal student loan for the first time, you must complete online Entrance Counseling. This reviews how loans work and the options related to federal student loans. Login to studentaid.gov using your FSA ID and navigate to the Loan tab to choose Entrance Counseling. The requirement will update after 3 days.

Step 3: Complete Master Promissory Note (MPN)

If you are a first time federal student loan borrower, you must complete a subsidized/unsubsidized Master Promissory Note (MPN). The MPN is good for 10 years. Login to studentaid.gov using your FSA ID and navigate to the Loan tab to choose Master Promissory Note. The requirement will update after 3 days.

Undergraduate Federal Loan Terms

Origination Fees

1.057% origination fee for loans with a first disbursement date on or before October 1, 2024.

Interest rates 2024-2025

Adjusted annually on July 1st. Current and prior rates.




6.533% (after leaving school)


Annual Loan Limits

Minimum: $100.00


Annual Loan Limit

Maximum Subsidized

Freshman (0-29.5 Earned Credits)


$3,500 subsidized

Sophomore (30-59.5 Earned Credits)


$4,500 subsidized

Junior or Senior (60+ Earned Credits)


$5,500 subsidized



Annual Loan Limit

Maximum Subsidized

Freshman (0-29.5 Earned Credits)


$3,500 subsidized

Sophomore (30-59.5 Earned Credits)


$4,500 subsidized

Junior or Senior (60+ Earned Credits)


$5,500 subsidized


  • Accept all loans you want to borrow and the amount(s) through Trailhead.
  • All first-time borrowers must complete a loan entrance counseling prior to loan funds being disbursed.
  • Complete a Master Promissory Note (MPN).  Typically the MPN is only required once for each borrower.
  • Must be enrolled at least part-time (6 credits for an undergraduate student; 4.5 credits for a graduate student).

Repayment Terms

  • Repayment begins six months after graduation or dropping below half-time enrollment.
  • Minimum payment: $50/month, maximum of ten years to repay.
  • Complete terms of the loan can be found on the Disclosure Statement for Federal Direct Loans.

Loan Repayment Calculator 


A Direct Loan may be canceled prior to disbursement with written or email notification.  The statement must include the student’s name and ID number (CWID).

Additional Payment Options

Scholarships:  You are encouraged to continue applying for outside scholarships throughout your education career.  Mines will accept scholarships as long as you are enrolled.

Student Loan:  Students may borrow a limited amount in a federal subsidized and/or unsubsidized student loan.  View our undergraduate loan page for more information.

Private Loan: You may borrow a private education loan for education-related expenses.  Generally this loan would come from a bank or from an education loan provider and may require a creditworthy cosigner.  Mines does not have a preferred provider list.

Payment Plan or 529 College Savings Plan:  Our Bursar’s Office offers a payment plan where monthly payments can be made for your bill.  View the Bursar’s Payment Option site for more information.

Contact Info

Mailing address:
Colorado School of Mines
Financial Aid Office
1301 19th Street
Golden, CO 80401

Office Location:
Ben Parker Student Center, E160
1200 16th St
Golden, CO 80401 

Summer Walk-In Hours:
Monday through Friday
9am - 4pm

Toll-free: 1-888-446-9489

For scholarship questions, email scholarship@mines.edu

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Students Right to Know

More information:

For billing issues contact: Bursar's Office 303-273-3158

For health insurance waivers contact: Student Health Insurance 303-273-3388

For College Opportunity Fund contact: Registrar's Office 303-273-3200

For information on Veteran Affairs contact: Registrar's Office 303-273-3200