Financial Aid

The primary source of funding for Financial Aid comes from federal and state sources. Financial Aid is awarded through grants, work study, loans and scholarships. Otero encourages students to take advantage of the many scholarship opportunities available to them.

Application & Deadline for FAFSA

The Free Application for Federal Student Aid (FAFSA) is the application used by nearly all colleges to determine eligibility for federal, state, and institutional aid, including grants, student loans, and work-study programs. The FAFSA must be renewed every year you are in college. New year applications are available January 1 of each year.

The deadline date for submitting the FAFSA application is June 30 each academic year. Students who are seeking financial assistance are urged to submit their completed applications well in advance of the anticipated semester of registration.

It is the intent of the Otero College Department of Financial Aid to provide some aid to all eligible students, regardless of any state-initiated priority deadline. Most students will receive a combination of financial aid based upon their financial need and the availability of funds.

The financial aid department will receive notice of the completed FAFSA within seven days of application submission. The student will receive an award letter or a request for further information within ten business days, via their student issued email.

Complete the free application for Federal Student Aid (FAFSA) and the renewal application. The school code for Otero is # 001362, you will need this for your FAFSA application.

Colorado Opportunity Fund

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.

Who is Eligible for COF?

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.

Requirements for Receiving Financial Aid

To receive aid, you must meet the following requirements:

Be a U.S. citizen or eligible non-citizen
Be enrolled as a regular student in an eligible program.
Maintain “Satisfactory and Measurable Progress”
Not be in default on a student loan or owe a refund to a Title IV financial aid program.
Demonstrate financial need for need-based funds.
Be academically ready for study at the college level (automatically qualify if you have a high school diploma or GED).
Be 16 years of age or older and not be enrolled in high school.

Avoiding Student Aid Scams You never have to pay for help with your federal financial aid or student loans. Which is the Real FAFSA web site? Many websites claim that you can file the Free Application for Federal Student Aid (FAFSA) through them. But, there is only one real FAFSA web site, and it is the one that is provided by the U.S. Department of Education: https://studentaid.gov/h/apply-for-aid/fafsa

ECMC Emergency Aid Application

The ECMC Emergency Aid Application is designed to assist students in dealing with unforeseen financial emergencies that, if not quickly resolved, could cause students to drop out of school.

What is an Emergency

Medicine for a sick dependent
Mechanical issue that will keep student from having transportation to and from school
Loss of home in fire, or some other unforeseen circumstance
Medical crisis without insurance

Requirements for Application Approval

Student must be currently enrolled and attending class
- Student must be degree/certificate seeking in an undergrad program
- Maintain a 2.0 GPA
Provide documented facts confirming emergency
- Receipt for medicine
- Quote from repair shop for auto repairs
- Report for lost home and itemized list of items to be purchased
Application must be complete; details provided in additional information and cannot only say “N/A” or “None”

Emergency Aid Funds May Not

Be used to cover school expenses (parking, fines, tuition, books, supplies, required tools/equipment, etc.)
Be used to pay prior balances owed to the school
For expenses that are considered recurring
Be released without a completed application and supporting documentation

Western Undergraduate Exchange

Students who are residents of states participating in the Western Interstate Commission for Higher Education (WICHE) are eligible to request a reduced tuition rate of 150% of Colorado resident tuition at Otero.

WICHE members include: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the Commonwealth of the Northern Mariana Islands.

Note: The WUE reduced tuition rate is not automatically awarded to all eligible candidates. Eligible students must complete a WUE Participation form in Student Services to receive the discount.

For more information regarding WUE and WICHE, please visit http://www.wiche.edu/wue.

The Colorado Application for State Financial Aid is for students who do not have lawful immigration status but have resided in the state for at least three years before graduating from a Colorado high school or passing a high school equivalency exam.

CARES Act Required Reporting

The CARES Act is the Coronavirus Aid, Relief, and Economic Security (CARES) Act for Higher Education. Otero was awarded funds that were required to be used only as direct grants to students to provide emergency relief aid for hardships due to the COVID-19 pandemic as they look to continue their education.

Higher Education Emergency Relief Fund (HEERF)Section 18004 (E) of the CARES Act Reporting and Disclosure

001362000_HEERF_Q42022_04052023 FINAL REPORT

00136200_HEERF_Q32022_10062022

00136200_HEERF_Q22022_08032022

00136200_HEERF_Q22022_07072022

Otero HEERF III Quarter 1 2022 Report

00136200_HEERF_Q12022_04102022

Otero HEERF III Quarter 4 2021 Report

00136200_HEERF_Q42021_01102022

Otero HEERF II FINAL and HERF III Quarter 3 2021 Report

00136200_HEERF_Q32021_101021

(HEERF) Reporting & Disclosure: 06.31.21