We meet 100% of the demonstrated financial need of our accepted and matriculated students.
What's in a Financial Aid Award?
For students who receive financial aid during their first year, awards typically include a Colgate grant, a student loan, and a work-study opportunity. The grant is typically the largest portion of the award.
Grant aid is sometimes called "gift aid," in that it needs to be neither earned nor repaid. Unlike merit scholarships, grant aid is based entirely on demonstrated need. Grants do not carry any extra requirements or stipulations. Our goal is to help students with demonstrated need cover their educational expenses without taking on unmanageable levels of student debt.
Aid packages usually include a modest Federal Direct Loan. Colgate students tend to borrow considerably less than their peers nationwide. For example, Colgate's Class of 2016 had an average debt load of $16,000 as compared to that year's national average of more than $37,000.
Many students receive a work-study opportunity in their aid awards. Having the opportunity to work on campus allows students to invest in their own educations, reducing the need for additional loans while also gaining valuable work experience. The work-study earnings target can generally be earned by working between ten and twelve hours a week, which leaves plenty of time for academics and activities. MORE ABOUT EMPLOYMENT
Students who do not
receive aid during their first year at Colgate but who become eligible for assistance in a subsequent year generally receive a loan and job first, then grant to meet remaining need, if any.