Many people assume that they cannot afford a private, highly selective liberal arts college such as Colgate. However, need-based financial aid can help bridge the gap between what a family is asked to contribute and the full cost of attendance.
To see if you may potentially be eligible for need-based aid at Colgate, you may wish to try our Net Price Calculator
. Please be aware, though, that the calculator works only for domestic students,
as it does not
take into account the exchange rate and cost of living in countries other than the U.S. Also, this tool works best for students applying for aid as incoming first-year students
-- while the family contribution will be quite similar regardless of a student's year in school, job and loan levels vary based on circumstances not addressed by the calculator.
For students receiving Colgate grant during their first year of college our financial aid awards typically consist of grants, a modest student loan, and a campus job opportunity, with grant funds generally representing the largest portion of the financial aid award. Students who don't
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.
Aid packages will usually include a Federal Direct Loan, which for 2013-14 has a fixed interest rate of 3.86% -- 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.
A campus job award can generally be earned by working between ten and twelve hours a week, which still leaves sufficient time for academics and activities. Additional information about student employment can be found at www.colgate.edu/studentemployment
The aid application process is slightly different for prospective first-year, transfer, and current students. For information about how to apply, please select the relevant student type from the right-hand side bar or under the "Helpful Links" found below.