Financial Aid Awards
Colorado Scholars Program
Scholarships of tuition are available to Colorado residents who have a cumulative
high school grade point average 3.00 or better and enroll full-time at Otero the fall
semester after graduating from high school. These scholarships are also available
to returning Otero sophomore students who have maintained at least a 3.00 cumulative
This scholarship is also available to current Colorado residents that are Otero or college transfer students who have a cumulative college grade point average 3.00 or better and enroll full-time at Otero.
Applications must be received by the Director of Financial Aid by August 1. Awards are made depending upon the availability of funds and will be supplemented by the Colorado Student Grant if the student receives both awards. (Funds from the Colorado Scholars Program are not available for the summer term.)
Private Donor Scholarships
The Director of Financial Aid administers a number of scholarships established by individuals and organizations interested in Otero and its students. Eligibility for these awards varies according to the donor’s wishes. Information concerning these awards is available from the Director of Financial Aid.
Federal Pell Grant
These grants are designed to provide financial assistance to those who need it to attend post-high school educational institutions. The maximum award for the 2018-2019 academic year is $6,095. Amount of the award is set each year by the U.S. Department of Education. Grants may be awarded to full-time and part-time students who are U.S. citizens, meet other federal mandated guidelines and are making satisfactory academic progress.
Federal Supplementary Education Opportunity Grants
One year grants-in-aid, valued at $100 to $4,000 depending on the extent of documented need, are designed to assist students of exceptional financial need, who, for the lack of financial means of their own or of their families, would be unable to attend college. The Federal Supplemental Education Opportunity Grant may be renewed annually upon application, providing the recipient continues to meet eligibility requirements.
Colorado State Grant
The Colorado student program is designed to assist needy students with educational expenses. To qualify, students must be residents of the State of Colorado and must demonstrate and document financial need. Colorado Student Grants to out-of-state students are not available.
Federal Stafford Student Loan
This loan is available to students who have demonstrated financial need. The loan is secured through the William D. Ford Federal Direct Loan Program. A student may obtain a loan up to $3,500 for freshman status and $4,500 for sophomore status (students who have completed 30 credit hours or more), based on documented need. Cumulative loan limits for a four-year degree program are $23,000. There is no loan payment or interest charged while the student remains in school at least half-time. Students must begin repaying the loan at a fixed rate, capped at 8.25%, six months after they graduate, leave school, or are enrolled less than half-time. These loans are guaranteed by various agencies and reinsured by the federal government.
College Work-study Employment
The college work-study program (federal and state) is designed to provide financial assistance in the form of part-time employment for students in need of such assistance to begin or continue their college education. Employment under this program is authorized for any student who shows need for assistance and is enrolled at least half-time. Students from low-income families are given first priority for available funds. Students employed under the work-study program are limited to a maximum of 15 hours per week during the regular academic year but may be authorized to work up to 28 hours per week during the summer and other vacation periods. Students employed under work-study are paid at the applicable minimum wage rate.
Part-Time Student Financial Aid
Part-time students who are enrolled for a minimum of six (6) credits are eligible to be considered for financial aid. Contact the Student Services Center for details.