by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
What amount of Colby financial assistance will actually be available to you?Get answers to your questions here.
Colby College average financial aid offer for freshmen students is $55,048.00. 43% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Colby College you may end up taking on.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers listed below make reference to help that is offered by Colby College.
40% of incoming freshmen (206 total) were awarded scholarships at Colby College, averaging $52,697.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 18% of freshmen (93 total) received a federal grant, for about $6,493.00 a person.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 5.03% | $70,952.00 |
| Income 30k-48k | 4.84% | $71,239.00 |
| Income 48k-75k | 7.35% | $68,064.00 |
| Income 75k-110k | 2.71% | $61,412.00 |
| Income 110k + | 7.16% | $24,403.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
43% of the 517 undergraduates at Colby College receive some sort of grant aid. This is a total of about 206 students getting an average of $55,048.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.