Colorado Student Loans
State Government Invests Money in a College Trust Fund
Colorado Assist manages the State of Colorado’s student loan program. Formerly known as the College Access Network and the Colorado Student Loan Program, College Assist is a one-stop-shop for all state students and parents seeking financial aid information. Visitors may plan their college savings scheme, check out up to the minute interest rates and explore college finance options.
Colorado College Assist Products and Services
The primary financial function of College Assist is as the state appointed organization managing borrower accounts for federal loans. Borrowers may create and manage their accounts online, make payments and arrange deferment plans. College Assist does not provide any private loans to state students, but offers advice to those shopping for private loans and consolidation plans. Apply online for federal loans directly through the College Assist site; it provides a direct link to the FAFSA as well as a Student Loan Online application service.
Paying Your Loans
College Assist makes it easy to pay your Colorado loans online. Users can even choose the repayment plan that fits their needs; meaning you choose how long you take to pay and if payments are the same all along, graduated or a selection of others:
- Standard – perhaps the most popular style of loan repayment. Length of repayment is 10 years and payments are the same amount over the length of the loan.
- Extended – Have you gone to med school? Have just tons of loans to repay? The extended repayment option may be the one for you.
- For those whose new jobs are not quite up to snuff, there is the “Income Sensitive” program. Make arrangements to only make payments that are affordable to you. This makes it possible to avoid default on high-dollar loans.
- Graduated payments let you start off with lower monthly payments and eventually increase to higher.
Colorado’s Free Money Program
Colorado students regardless of financial situation are qualified to receive free money put aside by the state for every student heading off to college. There are no credit checks, no income disclosures. The Colorado College Fund is easily accessible from College Assist and the funds are the result of savvy trust fund investments made by the state for educational purposes.
The hitch is that students must be pursuing their first college degrees and be enrolled in a Colorado state college or university to qualify for the funding. Award amounts vary.
Planning on attending a state of Colorado college or university? Find out if you qualify for free cash from the Colorado COF.
