Financing Options for Colgate University Skip Navigation

Financing Options

Whether or not you qualify for aid, there are a number of financing options available to help pay your educational costs. These include, but are not limited to, monthly payment plans, loan programs, and pre-payment plans.
Often, it can be advantageous to seek professional financial advice regarding the tax advantages of various payment strategies.

A few of the financing options used by Colgate parents and students are described below.  To further assist you in planning, our website provides information regarding estimated costs.

Parent Resources

Colgate University monthly payment plans -- available to all parents
Monthly payment plans allow parents to make 10 monthly payments (starting in June) toward college bills. There is a small processing fee. Colgate offers plans that are administered by Tuition Management Systems (TMS) and Sallie Mae TuitionPay. For further information call TMS at 800-722-4867 or Sallie Mae TuitionPay at 800-635-0120.
Federal Direct PLUS Loan -- available only to parents who are U.S. citizens or eligible noncitizens
This federal loan enables parents to borrow directly from the Federal Government up to the cost of attendance minus any financial aid. Only one master promissory note is needed throughout the students' enrollment at Colgate. The interest rate for 2013-14 is fixed at 6.4%, and borrowers pay an origination fee of roughly 4%. Repayment begins 60 days after loan disbursement and continues for up to 10 years. 

The FAFSA, or Free Application for Federal Student Aid, should first be submitted online. After completing the FAFSA parents may visit to begin the loan request process. If you have questions about the PLUS Loan, please contact the Office of Financial Aid.
The Tuition Prepayment Plan -- available to all parents
For those parents interested in stabilizing tuition charges during their child’s undergraduate enrollment, Colgate University has developed a prepayment option. The Tuition Prepayment Plan offers parents the opportunity to prepay tuition for two, three, or four years at the current rate of annual tuition set for the first year of participation in the plan, which protects families from probable future increases.

Participation is limited to parents of students who are in full-time attendance and are not receiving Colgate financial aid. (Plan participants may, however, apply for federal aid.) Only tuition charges are included. All other charges for fees, room, meals, etc., are payable as billed.

Specific details of this plan may be obtained by contacting the Office of Student Accounts at 315-228-7421 or by email at
The Tuition Refund Plan -- available to all parents
This plan provides refunds of tuition in the event of withdrawal due to medical or emotional reasons, in accordance with the terms set forth by the contract. Information is sent to parents annually by A.W.G. Dewar, Inc., (617-774-1555), the insuring company.

Specific details of this plan may be obtained by contacting the Office of Student Accounts at 315-228-7421 or by e-mail at


Student Resources

Federal Direct Loans -- available only to students who are U.S. citizens or eligible noncitizens
Federal Direct Loans are available to students, regardless of family income, for up to $5,500 for the first year of school, $6,500 for the second year, and $7,500 for the third and fourth years. Some students may be eligible to borrow through the subsidized portion of the Federal Direct Loan program, in which no interest accrues while the student is enrolled at least half time. However, at least $2,000 of each of these amounts can be offered only through the unsubsidized portion of the program.

The FAFSA or Free Application for Federal Student Aid should first be submitted online. The 2013-14 interest rate is fixed at 3.86% for both subsidized and unsubsidized loans. In the unsubsidized portion of the program, interest accrues while the student is in school and may be paid or capitalized. In both portions of the program borrowers pay a roughly 1% origination fee. Colgate will always award as much subsidized loan as possible before awarding unsubsidized loan; however, in some cases the student is eligible for an unsubsidized loan only. Further information may be obtained by contacting the Office of Financial Aid.
Campus employment -- available to all students
Campus employment provides another opportunity for students to contribute toward their educational costs. While students with a work-study award in their aid package receive priority in hiring, a number of jobs are open to all students. More than half of the students who work on campus are not aid recipients.

More information about student employment can be found here.