An act of the Colorado State Legislature in May 2004 established a new way for the State to provide state tax dollar support for higher education at the undergraduate level. The state is no longer appropriating monies to institutions for undergraduate education, but providing direct funding to undergraduate students through the "College Opportunity Fund" or "COF." This program is also known as "vouchers" or "stipends." COF stipends are applied to the university bills of in-state undergraduates. Here are answers to some questions students and parents have been asking about COF.
The College Opportunity Fund (COF), created by the Colorado Legislature, provides a stipend to eligible undergraduate students. The stipend pays a portion of your total in-state tuition when you attend a Colorado public institution or a participating private institution. Eligible undergraduate students must apply, be admitted, and enroll at a participating institution. Qualifying students may use the stipend for eligible undergraduate classes. The stipend is paid on a per credit hour basis to the institution at which the student is enrolled. The credit-hour amount will be set annually by the General Assembly. The first time you register for classes at your institution, you must "Authorize" use of your COF benefit.
For other COF information, click here.
You will be required to apply for the College Opportunity Fund voucher program. To apply online click here.
In-state undergraduate students will be eligible for vouchers. Degree-seeking, non-degree, and teacher licensure students classified as undergraduates will be eligible. Your age, your income, and your financial aid eligibility are irrelevant - students of all ages, all incomes, and all aid statuses will be eligible.
You will be responsible for paying the full tuition, including the portion that would have been covered by the College Opportunity Fund. For example, let's say your tuition was $2000 and the COF stipend was worth $800. Those who complete both steps succesfully would pay $1200, but those who don't would pay $2000. These amounts are for illustration only.
COF is typically authorized when you first register for classes. If you have any concerns or need to make sure you have authorized your COF, please contact the Registrar's Office.
After you have authorized COF for your first semester, you will remain authorized until you indicate otherwise. You can change your COF status either through MAVZone or by contacting the Registrar's Office. Students who decline COF will be responsible for paying the full tuition, including the portion that would have been covered by the College Opportunity Fund.
Your voucher amount will be calculated based on the number of credit hours you register for each term. This amount may differ each year. The amount of the voucher per credit hour will be the same at all Colorado public institutions, including community colleges.
No. Upon your authorization, your stipend amount will be sent by the state on your behalf directly to the institution you choose to attend. The stipend amount will be applied directly to the total tuition charge on your university account. The stipend amount will not be mailed to your home or transferred to your bank account.
The total tuition shown on your university bill will have two parts: The part paid on your behalf by the COF and the part you are personally responsible for. Any financial aid you receive will be applied to your share. You will pay total tuition MINUS the part paid on your behalf by COF, MINUS any parts paid by financial aid. For example, if your total tuition is $2000, and COF pays $800 on your behalf, and a scholarship pays $500, you will pay 2000 - 800 - 500 = $700. These amounts are for illustration only.
No. Prior to the COF implementation students were still responsible for a portion of tuition. This has not changed. Both tuition rates and COF stipend values will change from year to year.
Probably not. The state is developing methods of calculating the limit for each student, based on hours taken as an undergraduate before July 1, 2005.
No. COF vouchers will be capped at 145 cumulative attempted semester credit hours, with some exceptions. The Colorado Commission on Higher Education (CCHE) will track each student's hours over all Colorado institutions. CCHE will also estimate the number of COF hours remaining for students enrolled before fall term 2005. The cap does not include AP or IB credit earned while in high school.
For students starting after July 1, 2005, it's a lifetime limit on attempted credit hours paid by COF. Hours taken outside Colorado or as an out-of-state student should not count in the cap. Earned hours from AP or IB will not count in the cap. For students starting after July 1, 2005, only hours paid by COF will count in the cap. Students taking undergraduate work after receipt of a bachelor's degree may have 30 more hours added to their limits.
In addition, some waivers to the lifetime limit should be available.
For students enrolled before July 1, 2005, the lifetime limit will be set by CCHE based on hours taken as an undergraduate before July 1, 2005.
Yes. The total in-state undergraduate tuition will be the same for hours over your limit, but there will be no COF stipend applied to the tuition for those hours.
The COF stipend can not be applied to the graduate course.
Yes. A portion of the state appropriations to the university received prior to COF was for financing the cost of undergraduate education. The COF program changes the state's financing of institutions to provide direct funding to undergraduate students. COF is also designed to increase public awareness that the state helps offset the costs of undergraduate education at public colleges and universities.
Yes. The College Opportunity Fund program is variously known as COF, vouchers, stipends, and Senate Bill 04-189. Although the word "voucher" appears frequently in the press, it does not appear in Senate Bill 189 itself or on the CCHE web site, which both use the word "stipend" instead.
Details of the COF program are being determined by the Colorado Commission on Higher Education (CCHE) and the Colorado Access Network (CAN, formerly known as the Colorado Student Loan Program or CSLP). See the FAQ site which includes commonly asked questions and answers. Address any further questions to the CAN at askCOF@college-assist.org
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