The College Opportunity Trust 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. Both new and continuing students are eligible for the stipend.
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.
What is a stipend?
"Stipend" means the amount of money per credit hour paid by the state of Colorado on behalf of an eligible undergraduate student who is attending a state or a participating private college or university in the state of Colorado.
The specified amount of the stipend per credit hour is set annually by the Colorado General Assembly. The amount will never exceed the student's total in-state tuition. The value of the per credit hour stipend will be the same for each eligible undergraduate student regardless of the state college or university the student attends.
If an eligible undergraduate student attends a participating private college or university in the state of Colorado, the per credit hour amount is fifty percent (50%) of the annually set stipend amount.
Total stipend hours per student, per semester, are determined by the school and reported to the College Opportunity Fund (COF). COF matches student information with Stipend Application Account information in its database (the information you provide when creating a stipend account) and disburses the stipend amount directly to colleges and universities on behalf of those eligible undergraduate students identified by the school.
Who is eligible?
Undergraduate students classified as in-state students for tuition purposes and enrolled at state colleges and universities.
Additionally, undergraduate students enrolled at participating private colleges or universities may be eligible if the college or university is approved for the program by the Colorado Commission on Higher Education and the student:
- Is classified as an in-state student for tuition purposes;
- Is a graduate of a Colorado high school or has successfully completed a non-public home-based educational program in Colorado;
- Demonstrates financial need through the student's eligibility for the federal Pell Grant, or its successor program; and
- Meets any other eligibility requirements established by the Colorado Commission on Higher Education (CCHE).
Note: "Eligible Undergraduate Student" does not include a student enrolled in an off-campus, extended campus, or continuing education class not supported by state general fund moneys, except as approved by CCHE.
Do I have to reapply each year?
No. You only apply once. When you complete the stipend application you create an account with 145 available undergraduate hours. You can receive stipend funding for these hours at any participating college in the state of Colorado.
How much is the College Opportunity Fund stipend worth?
It will vary. The per credit hour stipend amount will be determined each year by the Colorado Legislature. The amount of the stipend for the 2007-2008 academic year is $89 per credit hour per semester for eligible students attending participating public colleges and $44 per credit hour per semester for eligible students attending participating private colleges.
Does the College Opportunity Fund replace financial aid?
The College Opportunity Fund is a payment made directly to your college on your behalf to cover part of the cost of your total in-state tuition. The stipend does not cover your share of total in-state tuition. Any financial aid you receive will be applied to your share of in-state tuition. The College Opportunity Fund stipend is not a grant and does not impact your eligibility for student financial aid.
(Click the Logo on left to go to the COF web site.)
