Colgate financial aid offers are based on a student’s demonstrated need. An aid offer can be a combination of grant, work-study, and loan.
Grants and scholarships are "gift aid" that do not need to be repaid.
The Colgate Grant is Colgate’s institutional, need-based grant available to students regardless of citizenship. The Colgate Grant is based entirely on demonstrated need as determined by the CSS Profile—it is not dependent on a student’s grade point average (GPA) or major, etc. Colgate does not offer academic merit scholarships.
At Colgate, the Colgate Grant is typically the largest portion of an aid offer.
This is a federally funded grant, available only to U.S. citizens and eligible non-citizens. Eligibility is determined by the FAFSA. If funding for this program is reduced, Colgate may not be able to replace this deficit. Pell Grant amounts reduce the Colgate Grant eligibility dollar-for-dollar.
Colgate offers institutional athletic scholarships without regard to citizenship to selected student-athletes in certain sports. Recipients and scholarship amounts are determined by the relevant Colgate coach.
While Colgate does not offer academic merit-based scholarships, students are encouraged to apply for outside scholarships from community and national organizations to help reduce their overall educational costs.
If a student receives a scholarship or tuition benefit from somewhere other than Colgate, they must report it to the Office of Financial Aid using the Outside Resource Form on the Colgate Financial Aid Portal.
Outside entitlement aid from state or federal sources, including veterans' benefits, and tuition benefits received from a parent's employer, reduces the Colgate Grant dollar-for-dollar.
Loans, whether federal or private, must be repaid to the lender, regardless of whether the student successfully completes their program and obtains employment. Students and parents have a number of loan options, which may be included in the financial aid offer or requested by the student.
Effective fall 2026 under the Colgate Commitment, students who are U.S. citizens or permanent residents with a total family income of up to $200,000 (and assets typical for that income range) will generally have their demonstrated need met with a financial aid offer that does not include loans. If a student’s financial aid offer does not include a loan, they can still choose to borrow a loan. The average federal loan debt of Colgate's Class of 2025 student borrowers was $10,750.
Federal Direct Loans are fixed-interest loans funded by the U.S. government and are available to U.S citizens and eligible non-citizens. Effective for the 2026-27 academic year, the One Big Beautiful Bill Act requires students to maintain full-time enrollment (in courses applicable to their degree) to remain eligible for the maximum amount. Changes to enrollment will reduce a student’s loan funding.
| Academic Level | Total Annual Federal Direct Loan Limit | 2026-27 Interest Rate | Origination Fee |
| First-year | $5,500 (3,500 max subsidized) | 6.52% | 1.057% |
| Sophomore | $6,500 ($4,500 max subsidized) | 6.52% | 1.057% |
| Junior/senior | $7,500 ($5,500 max subsidized) | 6.52% | 1.057% |
| Graduate student | $20,500 (unsubsidized only) | 8.07% | 1.057% |
An undergraduate student's grade level is determined by their total course credits earned:
Effective for the 2026-27 academic year, the One Big Beautiful Bill Act requires students to maintain full-time enrollment (in courses applicable to their degree) to remain eligible for the maximum amount. Changes to enrollment will reduce a student’s loan funding.
Loan repayment amounts can be calculated by using the federal loan simulator. Note, the loan simulator does not yet reflect the repayment options that will be available starting July 1, 2026, based on the passage of the One Big Beautiful Bill in 2025.
Learn more about new repayment plans available after July 1, 2026.
The Federal Direct Parent PLUS Loan is a federal credit-based loan with a fixed interest rate, available to parents of dependent undergraduate students. Parents must apply and be credit approved by the Department of Education to borrow this loan.
Effective for the 2026-27 academic year and beyond, the One Big Beautiful Bill Act established new federal limits for the Parent Plus Loan:
To ensure four years of funding, parents should limit borrowing to approximately $16,250 per year (or less) to avoid reaching the lifetime cap before the student graduates.
If a student or parent borrowed a federal loan for their student at Colgate prior to the 2026-27 academic year, the parent may be eligible to continue borrowing under previous limits for up to three years. Learn more.
Private education loans are an alternative loan option to federal loans. They are credit-based loans offered by banks, credit unions, and other private lenders. Some state governments also offer alternative loans with the state acting as the lender.
Private loans are issued by non-governmental lenders; they are not part of the federal student aid program and generally have different terms, interest rates, and repayment options that are not as generous as federal loans.
Colgate does not endorse any private loan lenders. However, to get you started on understanding what borrowing options are the right fit for you and your family, we’ve provided some tips for comparing loan options below.
We strongly encourage students and families to exhaust all federal loan eligibility before considering private loan options. Federal loans typically offer benefits that private loans do not, including:
More information on comparing federal loans to private loans is available on the Federal Student Aid website.
If you decide a private loan is necessary, we recommend comparing multiple lenders to find the best fit. Pay close attention to these key factors:
To assist in your search for a private education loan lender, we have partnered with ELMSelect to provide a historical list of lenders that Colgate students have used in the past. Using ELMSelect, you can compare different lenders and access financial literacy resources. ELMSelect is not a lender and does not promote any lender. Additionally, not all lenders choose to participate with ELMSelect.
Colgate University does not endorse any specific lender, and you may use a lender that does not appear on ELMSelect. It is up to the student and their family to choose a lender that works best for them.
Please contact the Office of Financial Aid to discuss your specific financing needs before starting an alternative loan application.
Loan repayment amounts can be calculated by using the federal loan simulator. Note, the loan simulator does not yet reflect the repayment options that will be available starting July 1, 2026, based on the passage of the One Big Beautiful Bill in 2025.
Learn more about new repayment plans available after July 1, 2026.
Work-study aid is available to certain students based on their financial need, without regard to citizenship. Certain U.S. citizens and eligible non-citizens will have their work-study funds paid from federal sources; all other students will be paid from institutional sources only.
The opportunity to work on campus allows students to invest in their education, reducing the need for additional loans and providing valuable work experience. The work-study amount can generally be earned by working between ten and twelve hours a week.
As remuneration for jobs is generally earned on an hourly basis and paid bi-weekly, the sum indicated in the aid offer letter cannot be deducted from the student's university term bill. Students who have a work-study amount greater than the combined estimate for their books, travel, and personal expenses may need to contribute the difference toward their billed expenses.
Learn more about student employment or contact the Human Resources Office.
Colgate University participates in veteran educational benefit programs that provide financial assistance to veterans and their dependents. Note: veteran's benefits reduce Colgate Grant eligibility dollar-for-dollar.
Colgate participates in the Yellow Ribbon Program, a component of the Post-9/11 GI Bill®. Eligible military veterans can learn more at benefits.va.gov/gibill. Please note that veterans must be entitled to the maximum benefit rate to be considered for this program, or for their dependents to be considered for it.
This is both an institutional and federal aid amount offered only to certain eligible veterans. The Yellow Ribbon benefit may be used to help cover on-campus expenses. Recipients and Yellow Ribbon amounts are determined by Colgate and the U.S. Department of Veterans Affairs.
Application forms, information, and assistance in applying for benefits are available at benefits.va.gov/gibill.
Note: Entitlement aid, such as VA educational benefits, reduces a student's Colgate Grant amount on a dollar-for-dollar basis. For further Colgate policies and procedures regarding veterans' benefits, visit Policies and Procedures.
Students holding U.S. citizenship or permanent residency who did not receive institutional aid during their first year at Colgate may apply for aid in subsequent years. International students who did not receive Colgate need-based aid upon admission are not eligible for the Colgate Grant in subsequent years.