Financial Aid Information

Students must re-apply for financial aid each year so that annual aid offers reflect families' more current financial circumstances. Students who do not complete an aid application for Colby institutional aid prior to admission will not be considered for College grant assistance for two award years, unless their family financial circumstances change unexpectedly and unavoidably. A written explanation of the change is required as part of the application. This two-year waiting period applies to Colby institutional financial aid only. Students who are eligible and wish to apply for U.S. federal financial aid can do so each year whether or not they did so prior to admission. Please call SFS at 1-800-723-4033 if you have any questions.

Applying for U.S. Federal Financial Aid - Students (U.S. citizens, dual-U.S. citizens, permanent residents) who are eligible and wish to apply for federal financial aid (Pell Grant, SEOG, Stafford Loan, Perkins Loan, Federal Work-Study, PLUS Loan), must complete the FAFSA which is free on the FAFSA website. Please don't go to other sites requiring payment or pay someone to complete the FAFSA for you. The U.S. Department of Education strongly recommends students and their families use FAFSA on the web as this is the easiest and most accurate way to apply. You will be guided through the form, helping to ensure that it is completed accurately.

Federal Verification - When students submit a FAFSA, the Central Processing System selects some applications to be verified. There have been significant changes to verification requirements in recent years. Students are reminded  to monitor their Colby e-mail account regularly as that is the official means of communication employed by our office to contact students. Students selected for federal verification will receive an e-mail from our office with instructions if additional information is required . This can vary from student to student. Please click here for answers to frequently asked questions regarding this process.

 
 

U.S. Citizens* - Applying for Colby Institutional Financial Aid - Required Documents and Deadlines

 Due Date

Form

April 30, 2014** FAFSA (Colby's school code is 002039; no fee is charged by processor.)
April 30, 2014
2014-2015 CSS Profile (Colby's school code is 3280; CSS charges a processing fee.)
April 30, 2014
2013 Federal Income Tax Return and W-2's (parents and students)

*Dual-citizens and permanent residents can check with Student Financial Services to confirm whether the CSS Profile or International Student Financial Aid Application will be required.

**This April 30th deadline is for students applying for Colby institutional financial aid. If the student resides in Connecticut and is eligible for a state scholarship, the FAFSA deadline is February 15, 2014. If the student resides in Rhode Island and qualifies for a state scholarship, the FAFSA deadline is March 1, 2014. Colby does not replace grant or scholarships that a student doesn't receive due to a late application.

 

Canadian Students - Applying for Colby Institutional Financial Aid - Required Documents and Deadlines

 Due Date

Form

April 30, 2014
2014-2015 CSS Profile (School Code 3280; CSS charges a processing fee.)
April 30, 2014 2013 Canadian Tax Return and all T4's

 

International Students - Applying for Colby Institutional Financial Aid - Required Documents and Deadlines

 Due Date

Form

April 30, 2014
2014-2015 International Student Financial Aid Renewal Application
April 30, 2014
2013 Parent(s) Wage Statement

 

 

Applications are reviewed in the order in which the application becomes complete. Historically, files are reviewed approximately 2-3 months after the application is completed. When the aid eligibility has been calculated, students may view their 'Financial Aid Award' under the 'Finances' tab of their myColby Portal.

If a family wishes to request a review of our analysis due to a substantial change in their financial situation, they should call 1-800-723-4033 or e-mail sfs@colby.edu to obtain the proper form and instructions. Student Financial Services focuses on initial awards through the month of July to ensure families who have completed their application timely will receive awards before the start of the school year. We gradually shift our attention to requests for review in August. We appreciate your patience as we strive to give each application a thorough analysis . If the review has not been completed, we ask the family to pay at least one-half of the previous year's family contribution before the first day of classes.

Aid funds (all grants and loans) will be finalized (credited to the semester's charges) no earlier than 10 days prior to the first day of classes for the fall and spring term.

Federal Perkins and Stafford Loans do not appear pending on the Student Account Statement until the student has completed a loan request form confirming his/her decision to borrow. .

 
For information about financial aid or student loan scams, click here.
 
Borrower Self-Certification Form for Private Loans

In accordance with Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128(e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private educational loan. The school is required on request to provide this form or the required information only for students admitted or enrolled at school. Should you need information for Section 2 of the form, please contact sfs@colby.edu for assistance.

Self-Certification Form

 
02/05/2014 01:45:10 PM