If you are a low-income student, financial aid can be the deciding factor in your attending a certain institution or not. Colby is dedicated to cover 100% demonstrated financial need of all students that attend. However, the breakdown and requirements for different kinds of financial support vary. Read below to learn more about different kinds of financial aid available to students.
The table at the bottom lists the standard forms and documentation required to apply for Colby institutional financial aid. Additional material could be requested when reviewing an application. All application materials are due April 30th, before the upcoming academic year.
Applications not completed by the deadline may receive an institutional grant reduction of up to $2,000 (even if the student doesn't plan to enroll until the spring semester).
Colby might not allow the same tax filing extensions for financial aid as the government. Similarly with the FAFSA and CSS Profile, tax returns and income documentation related to two tax years prior to the beginning of the school year are required.
**Upload tax returns and other required documents on your myColby account. To do this, go to your myColby account, click the "Finances" tab, and then select"Financial Aid Documents."
U.S. citizens and eligible non-citizens who wish to apply for federal financial aid (Pell Grant, SEOG, Stafford Loan, Perkins Loan, Federal Work-Study, PLUS Loan) must complete the free FAFSA on the FAFSA website. PLEASE use FAFSA online as it is the easiest and most accurate way to apply.
If applying for Colby institutional financial aid, the FAFSA must be complete by April 30th every year.
If applying for only federal financial aid, the FAFSA may be completed throughout the academic year while the student is enrolled, and federal aid will be processed according to the FAFSA deadlines and regulations.
**Make sure to monitor your Colby and personal email account regularly to ensure that your FAFSA application is verified. Students selected for federal verification will receive an email from the Colby Student Financial Services Office with instructions if additional information is required.**
Applications are reviewed around 2-3 months after they have been completed. Students can view their 'Financial Aid Award' under the 'Finances' tab of their myColby Portal.
Aid funds (grants and loans) will be finalized and appear on the Student Account Statement no earlier than 10 days before the first day of class for the fall and spring terms. Federal Stafford Loans will not appear on the Student Account Statement until the student has completed the Federal Loan Request Form (button below) confirming their decision to borrow.
The links below will provide you with information regarding federal loans for the student or parent.
When a substantial change in a family's financial situation occurs, call 1-800-723-4033 or email sfs@colby.edu to receive the proper form and instructions. Request of review is addressed in September. If the review is not completed, the family only has to pay at least half of the previous year's family contribution before the first day of classes.
According to Section 155 of the Higher Education Act of 1965 (HEA) and the requirements of Section 128(e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private educational loan. The school will provide this form or the required information only for admitted or enrolled students. Need more information about Section 2, contact sfs@colby.edu.
Questions can be addressed to:
Student Financial Services
Located on the 1st Floor of Garrison-Foster
4130 Mayflower Hill, Waterville, ME 04901
O#: 207-859-4132
Fax: 207-859-4122