Admission & Aid

Determining Financial Need

Need for financial aid is defined as the difference between a student's cost of attendance and the amount of money the student and parents can contribute from income and assets.  If you were admitted to Colgate as an aid applicant, Colgate will meet your demonstrated need, usually with a combination of Colgate Grant, loans, and a campus work opportunity.

Colgate financial aid awards are need-based and are meant to supplement, rather than replace, a family's contribution toward educational costs.  The university does not offer academic merit aid.

Family Contribution

The total family contribution generally includes resources from both student and parents.  In determining the family contribution, our financial aid staff analyzes a family's financial information from the relevant application form(s).  We use a standard formula known as Institutional Methodology (IM) to assess how much a family can contribute.  The formula takes into account income, typical living expenses, and educational expenses for other dependent children enrolled in undergraduate study.  It also includes assets such as savings, investments, and the value of a family's home and other real estate.

Parents usually provide the largest share of the family contribution.  A number of financing options are available to help parents finance their contribution.  Please note that Colgate does not require a parent loan as part of the typical aid package; rather, parents may choose whether or not to borrow in order to help meet their contribution.

If you would like an idea of how much you may be expected to pay toward college costs, you may visit Colgate's Net Price Calculator here.  However, the Calculator's results can provide only an approximation of the family contribution at Colgate, given the individualized nature of the needs analysis process at the university. Also, the Calculator's "estimated net price" and "estimated remaining cost" features relate more to prospective students; current students should focus primarily on the "Calculated Family Contribution" figures.