Co-op Aid Distribution

Some academic programs require co-op and others offer it as an option. In all cases, if you are going to co-op during the academic year, be sure that the Student Financial Aid Office is made aware of your plans in order to maximize your aid.

BUDGET ADJUSTMENT
Normally, a student's financial aid package is built around a 9-month academic year with 3 terms of tuition. However, as a co-op student, you are going to be a student year-round. Therefore, alerting Student Financial Aid that you are on co-op adjusts your budget to 12 months (usually 2 terms of tuition and 2 terms of co-op fees). This change can also adjust your eligibility in some aid programs.

AID ADJUSTMENT
While some aid programs will not adjust based on your co-op rotation, other aid funds will only be available to you during in-class terms. Informing Student Financial Aid of your co-op/class schedule allows for maximization of your aid.

• Scholarships: Most scholarships are only available to you for in-class terms. Generally, you will still only receive a third of your scholarship during an in-class quarter. Awarding a quarterly amount allows some renewable scholarships to continue through a four-year equivalency even though your academic career will take a bit longer.
• Grants: The Federal Pell, ACG and SMART Grants will post for autumn-winter-spring. You are eligible to receive your quarterly allotment even when on co-op during the primary academic terms. State grant programs such as OIG and OCOG are available in the same way as scholarships described above. Other grant programs including Federal SEOG may be split in thirds or in half (depending on co-op/class rotations) but can only be made available to you during in-class quarters.
• Work-Study: Students are eligible to continue in work-study employment during co-op quarters if they wish. Also, some co-op jobs are work-study positions with increased levels of responsibilities related to the student's major.
• Loans: Federal Stafford and PLUS Loans as well as alternative educational loans are processed for autumn-winter-spring in equal thirds. The Federal Perkins Loan is only available for in-class quarters and will be adjusted accordingly.

Because some aid will be made available to you when on co-op, your full eligibility in that program may exhaust prior to summer term. Students taking summer classes will need to plan accordingly to meet their quarterly bill. 

Due to the unique nature of ACG and SMART Grant amount limits and credit hour awarding criteria, eligible co-op students are likely to see gaps from continuous funding. Students will often reach their annual ACG or SMART eligibility amount prior to achieving the credit hour requirements for grant renewal in subsequent years.

FINANCIAL PLANNING KEY
Ultimately, aid is divided to post the first three terms of the year or when a student is in classes, dependant upon the aid source. In all cases, like with co-op earnings, it is the student's responsibility to manage any aid overages and refund checks on any given quarter to account for financial needs throughout the full academic year attendance.

Report your co-op plans to One Stop or Student Financial Aid to maximize the aid available to you. Understanding your aid distribution during academic years where you co-op one or more terms will help you plan to meet financial demands with aid and earnings throughout that year.

The University of Cincinnati has a rich history in cooperative education. In fact, we invented it here. Students have a unique opportunity to alternate classes and work in order to gain real-world experience and put into practice the classroom theories.

Additionally, many co-op students find they can reduce reliance on student loans through their earnings and a planful approach to their co-op placement.