Academic Catalog - Financial Aid

Financial Aid Awards

Award Descriptions

Rattler Nation Merit Scholarships 

Scholarships for tuition are available to Colorado residents who enroll full-time at Otero the fall semester after graduating from high school. Students must maintain a 3.0 GPA, no matter which level of scholarship they received, in order to receive the scholarship in subsequent semesters. The different levels of scholarships are as follows: 

• Rising Rattler: For students with a Cumulative High School GPA of 2.25 – 2.74 

• Talented Rattler: For students with a Cumulative High School GPA of 2.75 – 3.24 

• Renowned Rattler: For students with a Cumulative High School GPA of 3.25 – 3.74 

• Presidential Rattler: For students with a Cumulative High School GPA of 3.75 – 4.0 

These scholarships are also available to returning Otero sophomore students who have maintained at least a 3.00 cumulative GPA. Whichever scholarship the student received their first semester, is the scholarship they will continue to receive as long as they maintain a 3.0 GPA. 

Students MUST submit their official high school transcripts to the Otero College Registrar no later than July 15th, and students MUST have completed an application to Otero College and have been accepted by July 15th to receive this scholarship. No scholarship application is necessary. 

Finish Strong Scholarship 

The Finish Strong Scholarship is available for graduating high school seniors from Otero, Crowley, and Bent counties. This scholarship will cover a student’s tuition and fees after all other aid (except loans) has been applied to student’s bill. Requirements include: 

• At least 25 concurrent credits coming out of high school 

• Full time enrollment status at Otero College (12+ credits) 

• 2.0 high school GPA or better 

• This scholarship can only be used for three consecutive semesters starting the summer or fall after high school graduation. 

• Otero College must receive FAFSA and official high school transcripts by September 15th  

• Students must apply through the Jotform on the scholarship page on Otero’s website 

First-Generation Scholarship 

The First-generation scholarship is for first-generation college students (neither parent has earned a bachelor’s degree or higher). First-time, or transfer students who attended another college before Otero College enrollment, must have a 3.0 cumulative GPA. FAFSA must be received by September 15th, and student must be enrolled in at least 12 credits (full-time) at Otero. Renewable with a 3.0 cumulative GPA. There is a two-year limit on receiving this award. The First-Generation Scholarship is awarded to students upon their initial semester at Otero and may be combined with any other Otero scholarship. Students who qualify for this scholarship will receive $425/semester, as long as they maintain the 3.0 cumulative GPA. Students may apply for this scholarship using the general application on Otero’s website. 

President’s Leadership Program 

The Otero College Foundation provides annual scholarships of $1,000 to each selected scholar ($500 for Fall Semester and $500 for Spring Semester). This scholarship will be renewed for one more year if the scholar maintains a 3.2 college GPA and remains in good standing with the program and meets the year-two continuation eligibility requirements. Continuation of scholarship awards beyond the first two years will be contingent upon funding. Students must fill out the separate application located on the scholarship page on Otero’s website. 

International Student Scholarships 

• Jim Rizzuto International Scholarship 

• This scholarship is offered by Seth and Barbara Franzman for the benefit of a deserving second-year (sophomore) international student to assist with funds necessary to continue their education at Otero College, and to promote a positive international culture in the College community. The International student who is selected will need to write a Thank You letter to the Franzman family and will then be awarded $2,000 for the year, $1,000 each semester. 

• International Academic/Leadership Scholarship 

• Current Otero international students who have received the distinction of being on the President’s List, have demonstrated leadership and have been active in community service can apply for this scholarship award of $500 toward the following semester at Otero. 

• International Spirit Scholarship Application 

• Current Otero international students who have received the distinction of being on the Institutional Recognition Honors List, have been active in community service and have demonstrated and fostered opportunities to reach across cultural borders to promote international understanding can apply for this scholarship award of $250 toward the following semester at Otero. 

• Student Life Scholarship 

• A $1000 per semester tuition scholarship to students who select to live in Otero College on-campus housing and participate in Student Life activities and events. 

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 and is listed on the scholarship page of Otero’s website. 

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 2024-2025 academic year is $7,395. 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, have completed the FAFSA, meet other federally 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 Student Grant 

The Colorado Student Grant 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 by completing the FAFSA. Colorado Student Grants to out-of-state students are not available. 

A portion of Colorado Student Grant funding may be awarded to students who do not have lawful immigration status but have resided and attended high school in the state for at least three years prior to graduating high school and have documented financial need. Students should apply for this aid using the Colorado Application for State Aid (CASFA), available online at Colorado Application for State Financial Aid | Higher Education.  Students who are eligible to complete a FAFSA application should not complete CASFA. 

State Student Incentive Grant; currently Career Advance Colorado (CAC) 

Career Advance Colorado is funded through House Bill 23-1246, which fully covers enrollment costs for training programs in sectors with significant workforce shortages.  

Requirements 

• Colorado residency or ASSET tuition classification
• FAFSA/ CASFA on file
• Completed FA application (including all verification requirements (regardless of TIV eligibility of the program))
• Good academic SAP standing

General Information 

• No minimum enrollment level
• Prerequisites (not included on the program plan) will not be considered
• Eligible programs must be declared for the semester of award (secondary programs may be considered)
• No attestation required
• No high school students
• Can have a prior BA

Awarding Plan 

• Offer award at standard component amount up to bill.

      o Exclude loans and FWS from calculations. 

      o CAC is last dollar in. (Last dollar in before VA.) 

• Disburse award for exact amount of T & F (minus COF*) + other costs up to bill. (T&F{minus COF} + Books/Supplies + Dorms – Fin. Aid = CAC Eligibility)

   *Exceptions may be made to cover the COF portion if the student is not eligible for COF. 

Federal Direct Student Loans 

These loans are available to students who have demonstrated financial need. The loans are secured through the William D. Ford Federal Direct Loan Program.  

Maximum loan amounts for Dependent (typically less than 24 years old) students are as follows: 

• Subsidized loans – do not accrue interest as long as the student has not graduated and is enrolled in at least 6 credits 

•  Freshmen (completed 30 credits or less) may receive up to $3,500/year 

• Sophomores (completed 30 or more credits) may receive up to $4,500/year 

• Unsubsidized loans – start accruing interest right away regardless of graduation status or enrollment status 

• Freshmen (completed 30 credits or less) may receive up to $2,000/year in addition to subsidized loan 

• Sophomores (completed 30 or more credits) may receive up to $2,000/year in addition to subsidized loan 

Maximum loan amounts for Independent (typically 24 years or older, although younger students experiencing unusual circumstances can be considered independent) students are as follows: 

• Subsidized loans – do not accrue interest as long as the student has not graduated and is enrolled in at least 6 credits 

• Freshmen (completed 30 credits or less) may receive up to $3,500/year 

• Sophomores (completed 30 or more credits) may receive up to $4,500/year 

• Unsubsidized loans – start accruing interest right away regardless of graduation status or enrollment status 

• Freshmen (completed 30 credits or less) may receive up to $6,000/year in addition to subsidized loan 

• Sophomores (completed 30 or more credits) may receive up to $6,000/year in addition to subsidized loan 

Cumulative subsidized loan limit for a four-year degree program is $23,000. Cumulative unsubsidized loan limit for a four-year degree program is $34,500. Students must begin repaying all loans at a fixed rate (capped at 8.25%), six months after they graduate, leave school, or are enrolled in less than 6 credits (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, has completed the FAFSA, and is enrolled at least half-time. Students from low-income families are given 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.