College Loans for Colorado Students and Parents

Your Best Financial Aid Strategy

Don’t be confused by college student loans. When you start planning for college look closer to home for financial aid options. Most state governments sanction an agency to administer and/or guarantee federal student loans, or the Federal Family Education Loans (FFEL) as well as any state-sanctioned student loans.

The College Invest program is sanctioned by the Colorado Department of Higher Education and administers an impressive range of educational finance options, including scholarships and must-have information and guides to help you plan ahead.

For Colorado residents College Invest offers lower cost loans designed for undergraduates, graduates and professionals, non-traditional students and parent borrowers.

Federal Student Loans for Colorado Students

The federal loans should always be your loan of first resort—never go for a private loan first. Biggest mistake you could make is to assume that your family won’t qualify for government aid. Truth is in most cases you will qualify for some dollar amount of aid. It may only be a couple hundred bucks, OR it could a few thousand. Regardless, every little bit counts, so don’t pass up your right as a Colorado resident.

  • The College Invest Stafford Loan is a low-cost federal loan available to undergrads and grads. Staffords come in subsidized and unsubsidized versions and are the most disbursed student loan in existence. For Colorado residents the fees are low and the interest rate fixed. **How do you get a Stafford Loan? You must apply by completing the Free Application for Federal Student Aid or the FAFSA each year.
  • The College Invest Parent PLUS Loan is available to Colorado parents of undergraduate students who need to supplement college funds. Once your child’s federal loans and grants are disbursed you are eligible to finance the remaining balance of his or her education costs with the Parent PLUS. This is a credit-based loan so expect to be asked to agree to a credit check. This loan is often a much more cost-effective means to handle tuition expenses versus a home equity loan or a second mortgage.
  • Colorado graduate students, have you met your Stafford Loan limits? When you need more spending power to cover a balance on your grad school costs, check out the advantages to borrowing under the CollegeInvest Graduate and Professional PLUS Loan. So here’s the best strategy: your Stafford Loans first, then Grad PLUS.

For more information on financial aid, planning for college, and student loans for Colorado students, visit the CollegeInvest website.