Colgate University is committed to making your education affordable. As part of our continuing goal to educate the best students in the country, and thanks to the generous support of alumni, family, and friends, Colgate has dramatically increased the number of students who are receiving our need-based aid.
What does that mean for you and your family?
AVERAGE FOURYEAR DEBT LOAD IS $15,500 (Class of 2017)
USE THE NET PRICE CALCULATOR AT COLGATE.EDU TO HELP ESTIMATE YOUR AID ELIGIBILITY.
At Colgate, we meet 100% of the demonstrated need for each student. We believe education should be affordable, and in fact, the average debt load for the Class of 2017 is $15,500, significantly less than the national average of more than $37,000.
For example, of the applicants in the Class of 2021 who applied for need-based financial aid and matriculated, 61% had family income of $100,000 or less. Applying for Early Decision does not affect a student’s aid award. Someone admitted during Early Decision will receive the same aid package that they would receive as a Regular Decision candidate. Although it is not an exact measure, the Net Price Calculator on the Colgate website is a good place to start understanding what kind of aid you may be eligible to receive.
So what is “demonstrated need”? Colgate uses a standard formula known as Institutional Methodology to assess need. We look at a family’s income, basic living expenses, educational expenses for other children enrolled in undergraduate study, savings, and assets including home and real estate value. Using those figures, we determine how much a family (including the noncustodial parent, if applicable) can reasonably afford to contribute, and then subtract that from the total cost of attendance. The amount that remains is your demonstrated need.
Please note that domestic and Canadian students must reapply for aid each year, as a change in your finances can impact the amount of aid awarded.
Who should apply for financial aid?
All the best,
There is no specific income cutoff for aid because the decision depends on a number of factors beyond income. Financial aid has been offered to students at Colgate who come from backgrounds with limited resources and from families with reported incomes greater than $200,000 per year. It all depends on how your personal financial situation impacts the calculation of demonstrated need.
Gary L. Ross Vice President and Dean of Admission and Financial Aid
I hope you find this brochure and the information on our website to be informative as you weigh your college options during this exciting time. Also, you are always welcome to call or e-mail us with your specific questions, and our staff will be more than happy to assist.