Many students wonder if they can afford a private, highly selective liberal arts college such as Colgate. However, need-based financial aid is meant to help bridge the gap between what a family can afford and the full cost of attendance.
To see if you may be eligible
for need-based aid, try our Net Price Calculator
. Please note:
- The calculator works only for domestic students. It does not take into account the exchange rate and cost of living in countries other than the U.S.
- The calculator also works best for students applying for aid as incoming first-year students. While the family contribution will be similar regardless of a student's year in school, job and loan levels vary based on circumstances not addressed by the calculator.
What is in a Financial Aid Award? Grant
For students who receive financial aid during their first year, awards typically consist of a Colgate Grant, a modest student loan, and a work-study opportunity. The largest portion of the award is typically in the form of grant.
Students who do not
receive aid during their first year at Colgate but who become eligible for assistance in a subsequent year generally receive loans and a job first, then grant to meet remaining need, if any. Loan
Aid packages will usually include a Federal Direct Loan — fixed interest rate of 4.29% for 2015-16 — either subsidized and unsubsidized, depending on the student's eligibility for federal aid. Some students may be offered a Federal Perkins Loan, which carries a fixed interest rate of 5%. The type of loan received depends on a student's federal eligibility and on the availability of funds. Work-study
Campus employment can generally be earned by working between ten and twelve hours a week, which still leaves sufficient time for academics and activities. MORE ABOUT EMPLOYMENT