Financial aid is often a heated subject, especially for those who can’t afford to have it delayed.
For Joshua Petrie, a junior majoring in political science, a delay led to hardship at the beginning of the current semester.
“The thing that is my biggest concern is they don’t even allocate enough money for us to get books. I did end up going online to get cheaper books, but I got previous editions. But I had to do that when I finally got some capitol,” Petrie said. “And that took at least a month into the semester. It did affect grades.”
The disbursement of financial aid begins before the start of the semester, but students are receiving their aid in waves rather than a one-lump sum.
As of the 2012-2013 school year, the financial aid disbursement is handled in two payouts: one beginning 10 days prior to the start of the semester and one after the census date of that semester.
For Petrie, this is a sudden change.
“They could have started this last semester or maybe this semester, but it’s a delay in the first part of it,” Petrie said, “I understand the reason that Metro has this, is that it has such a high default rating compared to other universities. It’s very high.”
As of the 2010-2011 school year, almost half of the current students were receiving aid, according to the National Center for Educational Statistics.
A 2012 Denver Post article reported that at 11.5 percent, Colorado ranks third in the U.S. on default rates.
MSU Denver had a default rate of 10.7 in 2010, according to the Federal Student Aid website.
Petrie said he has good standing with his financial aid but found that it makes no difference when it comes to how disbursement works.
“I did research. I guess there’s no consideration for you as a student individually. It’s more of a broad based situation,” Petrie said.
Petrie said he found that filling out his Free Application for Student Aid form as early as possible makes no difference in when he receives his loans.
Instructions on the FAFSA forms encourage applicants to finish the forms as soon as possible, they but make no indication if that will have an effect on disbursement.
Petrie has learned that his fellow students have been having similar problems receiving their aid.
“Everyone has pretty much been going through the same thing,” Petrie said, “They’ll get maybe a small amount from the school. Like this semester I was allocated, I think, $300 initially. And that did not cover the book prices at all.”
MSU Denver’s website lists the university’s transfer out rate at 34 percent. The site mentions that one reason for transferring out is financial issues.
Petrie said he feels that transferring is not a viable solution for him.
“I’m under the impression that it’s actually worse at CCD given their default rating, and CU Denver doesn’t offer the classes I really need to graduate,” Petrie said.
Petrie doesn’t see the financial aid office as the problem; he said the staff is always very kind, and they do the best job they can with dealing with the federal lenders.
He said he was able to receive a short-term loan, but it was barely enough.
“They’re very clear about what’s going on, but I believe this situation really does put students last. Their needs are not considered at all,” Petrie said.
Like many students, Petrie is a commuter to the university. He said he has had to make sacrifices and often has to turn to cheaper sources for books.
The Auraria Bookstore does offer alternatives such as renting books, but Petrie still can find the books cheaper elsewhere.
“It could be because there’s a lot more competition in the Internet market, but [bookstore] prices are significantly higher than others. So if I can beat the prices by maybe a half or a quarter, I’m going to go ahead and do that,” Petrie said.
Along with books, the loans Petrie receives are supposed to help with the cost of living. He said he finds this to be inadequate as well. He said he’s had to live off and on with his parents.
Petrie said he feels it is important for students to be getting the help they need right at the beginning of the semester and doesn’t feel that the school is taking the necessary steps to ensure that students are given enough resources.
“It’s just something we need, and this isn’t debatable,” Petrie said. “I don’t like a school that reminds me I’m going to a subpar university, and this kind of stuff reminds me I’m going to a subpar university.”