Co-ops and Financial Aid

Cooperative education (co-op) experiences are an excellent way for you to gain hands-on, paid work experience while completing your degree. Here’s what you need to know about co-ops and financial aid.

The impact of co-ops on financial aid 

  • Enrollment status matters.
    • If your co-op is for academic credit, those credits count toward your enrollment status for aid eligibility. You will be considered for prorated grants and full-time loans.
    • If your co-op is for zero credit hours, you will be considered full-time for loans only.
    • Internships are not the same as a co-op. Check with your academic department to ensure you are enrolled for an aid-eligible co-op.
  • Cost of attendance adjustments: Students on co-op may have different living expenses. The financial aid office may adjust your cost of attendance for transportation or housing changes.
  • Loan deferment: Co-ops are reported as full-time enrollment to the National Student Loan Data System. This counts toward in-school deferment of student loans. The Office of Registration and Records can verify enrollment for loan deferments as needed.

Financial aid steps for co-op students 

  • Notify the Financial Aid Office if you plan to take a co-op term.
  • Confirm credit hours with your academic advisor or college office.
  • Update your future FAFSA if your income changes significantly due to co-op earnings in the prior aid year. Ask the Financial Aid Office if a special considerations application will benefit your situation.
  • Explore scholarships. Some employers and professional organizations offer scholarships for students completing co-ops.
  • Plan ahead for billing. If you’re away from campus, set up online payment options and direct deposit for refunds.

Updated: 08/27/2026 10:10PM