Colby College

Colby College Financial Aid

Students who are applying for financial aid at Colby need to submit both the Free Application for Federal Student Aid (or FAFSA), as well as the CSS Profile.

The FAFSA uses financial information from the prior, prior year which means that you don’t need to wait for the year to end and can use last year’s financial information.

The FAFSA code for Colby is 002039 and the CSS Profile Code is 3280.

It should be noted that while the FAFSA is free, the CSS Profile does require an application fee. However, students can qualify for a CSS Profile application fee waiver if the cost will present a financial hardship for the students’ family.

If you are looking for more information on how to complete the FAFSA or the CSS Profile, check out these resources:

• How to Complete the FAFSA
• How to Complete the CSS Profile

Colby College Questbridge Scholarships

Colby is a member of Questbridge, which is a prestigious scholarship program that supports high-achieving students from low-income backgrounds. Students who are “matched” to Colby College through Questbridge receive a four year, full ride scholarship to the school. If you are interested in learning more about Questbridge, you can check out our Questbridge Scholarship guide.

Colby College’s 100% Need-Met Guarantee

Colby has committed to meeting 100% of applicants’ financial needs. They determine your financial need using the FAFSA and/or CSS Profile, and will ensure that your financial aid package covers any costs you cannot pay.

No Loan Policy at Colby

Colby is a no-loan school, which means that their financial aid packages offer students grants and scholarships in place of the federal loans that are typically part of a package. This means that their financial aid is more generous than most, and they help bridge the gap between cost and student need. Some no-loan schools offer this policy for all accepted students while others only extend it to students below a specific income level, or to in-state students. Be sure to check Colby's website for details on their No-Loan policy.

National Merit Scholarships

If you scored exceptionally high on the PSAT/NMSQT, you may have been named a National Merit Scholarship Finalist. Did you know that this distinction could earn you a scholarship at Colby College? Colby offers scholarship money to National Merit Scholarship Finalists, although terms may vary. Some schools require you to list them as your first choice in order to receive the benefit, and others may impose additional need-based or academic requirements. Be sure to check Colby's website for more information!

Pell Grants at Colby College

15% of students at Colby College receive Pell Grants, which are awarded to undergraduate students with demonstrated financial need (students who have a bachelor’s or professional degree are not eligible). Pell Grants are awarded by the federal government and do not need to be repaid. To apply for a Pell Grant, students will need to submit their FAFSA. If you are awarded a Pell Grant, you’ll see it listed in your financial aid award letter if you are accepted to Colby College.

You can learn more about Pell Grant eligibility here.

Outside Scholarships

Colby students can also apply for outside scholarships to fund their education. Outside scholarships are awards that are offered by private and non-profit organizations. If you want to see what outside scholarships you are eligible for, check out these resources:

• Top scholarships for high school seniors
• Top scholarships for college students
• Scholarship database

Colby College Financial Aid Resources

If you are looking for more information about financial aid and scholarships at Colby or have questions that are specific to your personal situation, we recommend that you reach out directly to the financial aid office!

Here’s how you can get in touch:

• Website: https://www.colby.edu/sfs/applying-for-financial-aid/
• Email: [email protected]
• Phone: 207-859-4132

1445 is the median SAT score and 33 is the median ACT score for admitted students at Colby. A score that is close to this median value indicates that you have a good chance of admission to the institution. However, it’s important to remember that colleges judge applications holistically. If the rest of your application is strong, it’s possible to make up for lower test scores.

Coalition Colleges

Colby is a Coalition Member College, which means they have completed a vigorous vetting process from the Coalition for College to ensure that they “provide substantial support to lower-income, under-resourced and/or first-generation students; offer responsible student financial aid; and demonstrate a commitment to student graduation.” That also means you can apply to Colby via the Coalition Application. The Coalition Application makes it easy to obtain application fee waivers if you qualify. It’s also a great way to discover other colleges that have demonstrated a strong commitment to affordability and strong student outcomes.

Does Colby College charge an application fee?

Good news! Colby College does not charge application fees, so you can apply for free. If you think there is any chance you’d like to attend Colby College, consider sending in an application since it will not cost you anything.

Is Colby test-optional?

Colby College is test-optional, which means that it does not require applicants to submit their SAT or ACT scores. That means that some students will submit their test scores and others will not. If you choose not to submit your ACT or SAT score, the admissions officers will weigh your grades, extracurricular activities, essays, and interviews more heavily. If you are not sure whether you should submit your standardized test scores, our guide on submitting scores to test-optional schools can help.

What SAT/ACT score do you need to get into Colby College?

Colleges use standardized tests like the SAT and ACT as one of many factors to determine their admissions decisions. A high score on one of these tests does not guarantee admission to a college, and a low score does not guarantee rejection. However, the majority of accepted applicants to Colby College receive between a 32 and a 34 on their ACT, or a 1390 and a 1530 on their SAT.

Can students submit their SAT or ACT Superscore to Colby?

Yes, applicants can submit their SAT or ACT Superscore when they apply to Colby College. You should be able to find your superscore for either test on your student portal. Keep in mind that some colleges only allow Superscores for one of the two tests, so be sure to check their website for exact details on the Superscore policy.

What is the application deadline at Colby?

Students must apply by January 2 to enroll at Colby during the fall semester. Remember that college applications involve many pieces, including essays, a transcript, letters of recommendation, and more. Be sure to start your application as soon as you can to make sure you have enough time to make it as compelling as possible.

At Colby students also have the opportunity to apply Early Decision. In order to take advantage of this option, you’ll have to have your application in by November 15.

You can also choose to apply Early Decision II, with a later deadline of January 2.

Should I apply Regular or Early Decision to Colby?

Applying to Colby with Early Decision can be a great decision if you are 100% sure you want to go there. You’ll find out your admissions decision earlier than other students, and some data shows that you may help your admissions chances. However, you should keep in mind that Early Decision is binding. If you do get into the school, you won’t be able to change your mind later. If there is any doubt in your mind, you should apply Early Action or Regular Decision instead.

Read more: All you need to know about Early Action vs Early Decision

What is the graduation rate at Colby College?

88% of students who start at Colby College end up finishing their degree within six years of enrolling. This is 30% more than the national median. A higher graduation rate indicates that students have better experiences at an institution.

How much do graduates of Colby College go on to earn?

10 years after starting school at Colby College, the median earnings among students who received federal financial aid was $80,490. This is $30,099 more than the national median.

Earnings can vary widely based on many factors other than school choice. Your major and career path can cause substantial changes in your income down the line. For more information, check out our article on the average starting salary out of college.

How much do students at Colby take out in loans?

Graduates of Colby have to take out a median of $19,157 in federal student loans. This is $5,657 more than the national median. As you make decisions about your college loans, it’s important to inform yourself on the advantages and disadvantages of each loan option. Our guide to navigating these different options is a great place to start.