Composition of Aid Offer
The composition of an aid offer depends on several factors, including the extent of a student's financial need, eligibility for other aid resources, the availability of funds, and the date of application. Students who have applied for aid are automatically considered for all sources of financial aid, including federal, state, and institutional grants, loans, and employment.
The difference between the cost of attendance and the expected family contribution.
Expected Family Contribution (EFC)
The expected family contribution is calculated by taking into account your family's financial circumstances such as income, assets, the number of siblings under age 24 who are enrolled full-time in programs leading to a first undergraduate degree, and the cost of a sibling's educational program.
An expected student contribution is based on the student's current assets and earnings from an earlier tax year. A minimum contribution is expected of all students.
An expected parent contribution is calculated from the CSS Profile and other documents submitted to apply for financial aid. Parent income, assets, the size of your household, and the number of siblings under age 24 who are enrolled full-time in their first undergraduate degree program are taken into consideration. In the case of divorced or separated parents, both parents must submit a CSS Profile and each parent's information will be used in the assessment calculation of the total family contribution.
Students are billed on a per semester basis. When reviewing the overall family contribution, please keep in mind that this may be going toward billed and/or non-billed expenses for the academic year. Billed expenses may not be even between the fall and spring semesters due to transcript fees, health insurance, study abroad charges, etc. Our Financing Options page discusses ways to meet the family contribution.
The estimated costs used in determining financial aid eligibility are based on an estimate of a student's fixed, on-campus expenses (tuition and activity fee); an estimate for housing and food; and estimates for those variable expenses incurred but not billed to the student account (books, supplies, domestic travel, and personal needs).
Estimated costs do not include the fee for health insurance coverage, which is required for all Colgate students. If not already covered by health insurance, the student will be billed for health insurance coverage through Colgate; in either case, families need to cover that cost. Students who feel they may need assistance with the cost of Colgate's health insurance should contact the Office of Financial Aid. No provision is made for expenses that are not directly related to college attendance.
Students receiving institutional financial aid are eligible to receive financial aid towards one long off-campus study program (i.e. Study Group or Approved Program) and one short program (i.e. Extended Study). The additional cost of the program compared to an on-campus semester is first met with a $1,500 loan, regardless of initial financial aid packaged. The remaining additional cost is met with an increase in Colgate Grant.
If the cost of attending your program is less than the cost of an on-campus semester, you should contact the Office of Financial Aid to verify how your aid may be adjusted in that circumstance.
Further information about off-campus study costs and financial aid can be found on the Off-Campus Study page.