Student Resources

 How can I make a payment on my student account?

There are many methods available, including by wire, through electronic (ACH) payments, by mail, or in person at the Office of Student Financial Services. It is not possible to pay your student account with a credit card. Further details on the various payment methods can be found here.

Why can’t my parents view my student account statement?

Colby complies with the Family Educational Rights and Privacy Act of 1974 (FERPA), which establishes the rights and restrictions of students to inspect and review education records, provides guidelines for the correction of inaccurate or misleading data, and establishes standards for disclosure of student information. You can go to the myColby portal to set both financial and academic permissions if you would like the College to communicate with others in addition to yourself; the financial, academic, and personal info permissions page can be found under the Finances tab of the myColby portal in the left-hand menu.

Why don’t I receive student account statements by mail?

In an effort to go green, paper student account statements are being phased out and instead, up-to-date statements can be viewed online 24/7 here or through the myColby portal under the Finances tab on the bottom right of the page under the header ‘Student Account Statement.’ If you require a paper statement sent by mail, you can direct your requests to the Student Financial Services Office by email at SFS@colby.edu or by telephone at 207-859-4132 or 1-800-723-4033.

When are payments due?

For the 2012-13 academic year, the payment for fall semester is due August 1^st, 2012 and January 2^nd, 2013 for the spring semester.

What happens if I don’t pay on time?

A late payment fee of 1% will be assessed for unpaid student account balances of $1000 or more. This fee is assessed on the first day of classes each semester, and the first business day of the month thereafter (click here for the 2012-2013 Academic Calendar).

What can I do if I have a credit on my student account?

If after any aid has been finalized and semester charges are paid in full and you find that you have a credit balance on your account, the credit can be refunded to you through various methods. You can either request a check for the credit amount; the credit can be direct deposited into your bank account (if you have direct deposit set up); or it can be applied to your ColbyCard. It’s best to stop by our office on the ground floor of Garrison-Foster to request a student account refund though via email can also work.

Does Colby offer a payment plan?

Colby offers a tuition payment plan administered by Sallie Mae. For students who will be enrolled at Colby for the full year, payment plans begin May 1^st, June 1^st, or July 1^st. All three plans end February 1^st. One half of the annual contract amount will be credited to the student account in the fall and the other half in the spring (thus what is applied may not reflect what has actually been paid to the payment plan at that point). Students who will be attending Colby for only the fall or spring semester can enroll in the appropriate semester plan but not in the 10-, 9-, or 8-month plan. The spring only plan will be available online by mid-September with a beginning date of October 1^st.

To enroll in the tuition payment plan, visit https://tuitionpay.salliemae.com/Colby, click on “Enroll Now,” choose the payment plan option that is best for you, and follow the steps to complete your enrollment. If you have any questions about the plan, direct your questions to Sallie Mae at 800-635-0120 and a specialist will be able to assist you.

Do I have to reapply for financial aid each year?

Students must reapply for financial aid each year so that annual aid offers reflect families’ most current financial circumstances. Applications are reviewed only when all requested documents and information have been received by Student Financial Services. It is strongly recommended that students and parents complete information together whenever possible. Instructions to reapply for financial aid can be found here.

What do I need to do if this is my first time applying for aid?

If you are an enrolled U.S. student interested in applying for financial aid for the first time, you must complete the CSS Profile Form in lieu of the Colby College Financial Aid Renewal Application. Students who do not complete a financial aid application prior to admission will not be considered for College grant assistance for two award years, unless their family’s financial circumstances change unexpectedly and unavoidably. A written explanation of the change is required as part of the application. Please call SFS at 1-800-723-4033 if you have any questions.

When is the aid application due?

For US citizens, dual-US citizens, and permanent residents, April 15, 2012 is the due date for the FAFSA, the Colby College 2012-2013 Financial Aid Renewal Application, and signed 2011 Federal Income Tax Returns and W-2’s from both parents and students. Exceptions to the aforementioned deadlines are as follows:

If the student resides in Connecticut and is eligible for a state scholarship, the FAFSA deadline is February 15, 2012 (first-time applicants). If the student resides in Rhode Island and qualifies for a state scholarship, the FAFSA deadline is March 1, 2012).

For Canadian students, the due date for the 2012-2013 Canadian Student Financial Aid Renewal Application and signed 2011 Canadian Tax Return and all T4’s is April 15, 2012.

Similarly, the application deadline for International students is also April 15, 2012, at which time the 2012-2013 International Student Financial Aid Renewal Application and 2011 Parent(s) Wage Statement is due.

How soon are applications reviewed?

Financial Aid Renewal Applications are reviewed in the order in which the application becomes complete. Students are notified via their Colby email when their Statement of Financial Aid is ready to be viewed online. Historically, files are reviewed approximately 2-3 months after the application has been completed. Students can check the status of their application here in order to see if any documents are missing from the application.

My family’s financial situation has changed. Can I have my financial aid award reviewed?

If a family wishes to request a review of Colby’s analysis due to a substantial change in their financial situation, they should call 1-800-723-4033 or email SFS@colby.edu to obtain the proper form and instructions. Student Financial Services focuses on initial awards through the month of July to ensure that families who have completed their Renewal Application in a timely manner will receive awards before the start of the school year. Attention is gradually shifted to requests for review in the month of August. We appreciate your patience as we strive to give each application a thorough analysis but if the review has not been completed, it is asked that the family pay at least one-half of the previous year’s family contribution before the first day of classes.

My student account statement shows pending aid. When will the aid be finalized?

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 as pending on the Student Account Statement until the student has completed a loan request form confirming his/her decision to borrow.

How can I find out about outside scholarships?

Outside scholarships are a great way to reduce the cost of attendance after Colby has awarded the need-based federal and institutional grants for which you may be eligible. There are many websites available to assist you in your search; it is advised that you do not spend money on scholarship search services as they are often not reputable and you can normally find the information yourself for free. Our new scholarship page provides many links to search services in addition to particular scholarships.

Is there financial aid available for Jan Plan?

Is it possible to study abroad if I'm on financial aid?

Yes, it is completely possible; financial aid status should not affect your choice to study abroad. Financial aid is portable to both Colby and (approved) non-Colby programs as long as a student's plans have been approved by the Off-Campus Study office. In any of these courses of study, a student's aid is based on the actual cost of the program up to a maximum of Colby's student expense budget. The evaluation of the aid application includes consideration of necessary personal and travel expenses, and currency exchange rates. More information about financial aid while studying abroad can be found here.

How do I pay for an approved non-Colby study away program?

Since program fees are billed by the host institution, they are paid by your family and not Colby. There are two important financial aid forms to be filled out for approved non-Colby programs: the 2012-2013 Study Away Budget Statement and Agreement (required of all financial aid applicants, even if the only aid is in the form of loans), which is essentially a budget form to be completed by your program, and the 2012-2013 Disbursement of Aid Funds Form, which directs the aid funds to a parent who may then pay your program. Another important note on payment for approved non-Colby study away programs is that an Off-Campus Study Fee of $1000 per semester will be charged by Colby and is due according to the College's normal billing schedule (The $1,000 Off-Campus Study Fee is considered part of the budget when determining aid eligibility).

How do I take out a federal student loan such as a Stafford?

There are two key federal student loans available to undergraduates who are US or dual US citizens or permanent residents: the Federal Stafford Loan and the Federal Perkins Loan. The application for both loans is the FAFSA which can be completed online. More information about federal student loans at Colby can be found here.

In order to document your decision to borrow, please complete this form: Federal Loan Request Form.

How much can I borrow through a Stafford loan?

First year students can borrow a maximum of $5500 (maximum $3500 subsidized); sophomores can borrow $6500 (maximum $4500 subsidized); juniors can borrow $7500 (maximum $5500 subsidized); and seniors can borrow $7500 (maximum $5500 subsidized). These amounts reflect the annual maximum loan amounts for dependent students. Some individuals won’t be eligible to borrow the full amounts based on information provided on their FAFSA and Colby aid application. Students will be notified of their eligibility on their Statement of Financial Aid (award letter).

What is the difference between a subsidized and unsubsidized loan?

A subsidized loan does not accrue interest while the student is enrolled at least half-time. Eligibility is based upon need as determined by the federal formula. Repayment begins six months after the student is no longer enrolled.

An unsubsidized Stafford loan is not based upon need and interest does accrue while the student is enrolled; however, interest can be capitalized (not paid but added to the loan amount) while the student is enrolled at least half time. Repayment begins six months after the student is no longer enrolled.

Can I get a Perkins Loan?

Federal Perkins Loans are need-based loans awarded to students with eligibility as determined by the Department of Education and when funds are available to lend. At this time, only a limited number of students have been awarded a Perkins Loan due to the lack of available funding.

Where can I see my borrowing history of federal student loans through Colby?

For a summary report of your federal student loans, click hereto view the type of federal loan(s), the date posted(s), and disbursed amount(s).

How does my parent apply for a PLUS Loan?

A PLUS loan is a federal Parental Loan for Undergraduate Students. Starting in 2011-2012, a FAFSA must be completed in order for a parent to borrow a PLUS loan. A parent can borrow a PLUS loan for an amount up to the full cost of attendance less any financial aid including student loans. The student and parent must be US citizens or eligible noncitizens, must not be in default on any federal education loans, or owe an overpayment on any federal grant. The parent borrower also must not have an adverse credit history. Lastly, when borrowing from the Federal Direct Loan Program (FDLP) for the first time, a parent must complete a Master Promissory Note (MPN). To apply for the PLUS loan, the 2012-2013 Federal PLUS Loan Request Form must be completed and submitted to our office via fax at 207-859-4122 or by mail to

Student Financial Services
Colby College
4130 Mayflower Hill
Waterville, ME  04901-8841.

 More information about Federal PLUS Loans can be found here.

How can I change my address for official College mailings?

You can update your address and other biographical data by going to the registrar’s page and selecting “biographic data” under the “other resources” header on the right hand side of the page. Once you have updated your information, be sure to click “email corrections to registrar’s office.” You can also notify Student Financial Services directly of any address changes by emailing (sfs@colby.edu), calling (1-800-723-4033), or via mail.

Can any student get a job on campus (regardless of whether or not they have work study in their aid package)?

All full-time Colby students may work on campus regardless of whether or not they have been awarded a work study grant.  At certain times of the year, job availability can be limited but the student employment office staff is available to give you some direction to help you start your campus job search. 

What is federal work study?

Some students receiving financial aid qualify for federal work-study, a federal program that subsidizes term-time jobs. Institutional financial aid administrators at participating institutions have substantial flexibility in determining the amount of work study awards to provide to students who are enrolled or accepted for enrollment. Hourly wages must not be less than the federal minimum wage.

I need help finding a job. Where do I go?

You should begin by looking over the student employment FAQs which offer advice about starting your job search. There is ample information on the student employment website that can aid you in finding a job. If you have any further questions, Bill Pottle in the ColbyCard/Student Employment office can assist you.

What documentation will I need to work on campus?

If you plan to work at Colby at any time, you can complete the following forms in person during new student orientation or at the Payroll Office. Students are not allowed to work and will not receive a paycheck unless all required documents are completed. Please note that there are unplanned opportunities to earn wages such as athletic game workers. Even these short-term duties require the completion of payroll forms. You must bring the following documents with you to complete these required forms:

Forms to be filled out at Colby:

·         Federal & State of Maine Form W-4

·         U.S. Department of Immigration and Naturalization Form I-9

·         Direct Deposit Form (strongly recommended)

Required Documents needed to complete the forms above:

·         A U.S. Passport OR

·         A valid State Driver's license or State ID card and an official (raised seal) copy of your birth certificate or your original signed Social Security Card.

Can I have my paycheck direct deposited?

If you would like your paycheck to be directly deposited into your savings or checking account, please click here to set this up online through your myColby portal. You will need to know the routing/ABA numbers, account number, and type of account (savings or checking) of your financial institution before submitting your request. If you had direct deposit last year, we will assume that you wish to continue and will be using the same bank as you have in the past. If you wish to change your banking information, you may return to this same link to update your data, however, we ask that you watch your bank accounts online to be sure this change occurs. If you wish to discontinue direct deposit, you must contact the Payroll Office.

What can I use my ColbyCard for?

In addition to providing identification, you will use your ColbyCard to gain access to residence halls and dining halls, check books out of the libraries, do laundry, buy postage, make photocopies, and make purchases at the Joseph Family Spa, Cotter Union Post Office, Bookstore, Library, and Health Center. Your ColbyCard essentially works as your personal campus debit card; once you add money to your secure card account, you can use your ColbyCard to make purchases wherever it is accepted on campus.

Where can I go to add money to my ColbyCard?

There are several ways to add cash to your ColbyCard account: 

• ON CAMPUS—Visit one of our two Cash Management Centers (located in Cotter Union next to student mailboxes or in Miller Library next to the circulation desk).
• INTERNET—Anyone may add cash to a student’s account with a debit or MasterCard or Visa credit card as long as they know the first and last name of the student (exactly as it appears in the ColbyCard system) and the student’s ID number. Click here to add cash to a ColbyCard online.
• BY CHECK—You may drop off a check to the card office and we'll apply those funds to your card account
• STUDENT ACCOUNT TRANSFER—If you have a credit on your student account, you may request that all or a portion of those funds be transferred to your ColbyCard account without waiting for a check reimbursement to be processed.

NOTE: First year student card accounts will be available to accept deposits in mid-August.

 What can I do if I have lost or damaged my ColbyCard?

In the event that your card is lost or damaged, please contact the card office ASAP (the card office is located on the lower level of Garrison-Foster and is open Monday through Friday 8:30am to 4:30pm). You can email or call the card office to report your lost card and order a replacement (click here to order a card). In most cases, cards ordered by 11am will be ready at noon and orders placed after 11am will be ready by 4pm. There is a fee of $20 to replace lost or damaged cards. Cards that fail for no apparent reason or are excessively worn are replaced at no charge.

There is also the option of going to the online card office to freeze your cash account thus suspending your ColbyCard so it may no longer be used to access your account.  If you are able to find your card, you will then have to visit the ColbyCard Office with your ColbyCard to reactivate your card account.

Will I need health insurance while I am a student at Colby?

Yes. On an annual basis, Colby requires all students to certify proof of health insurance coverage.  In furtherance of the College's 100% health insurance coverage mandate, Colby has a Health Insurance plan for students, which is administered by Cross Insurance.  This Colby Health Insurance plan will be billed to students by default. The acceptance of the Colby Health insurance plan or the choice to waive the plan must be registered via the Health Insurance Registration Form by August 1^st.

What is the health insurance offered through Colby?

Commercial Travelers Mutual Insurance Company underwrites the Student Accident and Sickness Insurance Plan. Cross Insurance Agency, which services the college’s insurance plan, specializes in providing high quality affordable student health insurance. The plan offers coverage at a reasonable cost. It supplements the services provided by the on-campus Health Center. Should you have any questions or need more information, please contact Cross Insurance at 1-800-537-6444 and/or visit the website at www.crossagency.com/colby.

What if I need health care not available at the Health Center?

If you need health care beyond what the Health Center offers or during times it is closed, there are plenty of services available in Waterville. First of all, there are two hospitals located in Waterville—MaineGeneral Hospital and Inland Hospital—and both have emergency departments if necessary. Also, in the past, students have sought dental care in Waterville from businesses such as Main Street Dental and Aspen Dental, both of which have been very accommodating to Colby students. Although the Health Center does have a limited quantity of commonly prescribed medications available for purchase at the nurse's desk, you may need to go off-campus to obtain a prescription. If the prescription medication that you need is not available at the Garrison-Foster Health Center, you can purchase it at one of Waterville's local pharmacies such as CVS, Rite-Aid, and Wal-Mart.

Where can I cash my paychecks?

If you elect not to sign up for direct deposit with the payroll office, you will need to go to a bank in Waterville to cash your paycheck. There is nowhere on campus to cash checks. When cashing a check, you may be asked for personal identification such as your Colby ID or driver’s license. It is recommended that you cash checks at a bank in which you hold an account, though some banks in Waterville may cash paychecks for Colby students who do not have accounts at their bank.

Where can I do my banking while I am a student at Colby?

There are numerous different banks in Waterville, offering services such as checking and savings accounts. All the banks are competitive in rates and in services offered so comparative shopping is important. There is no need to have an appointment to open an account but you will probably need to speak to a customer service representative. When opening an account, most banks require two forms of identification, such as your Colby ID card and a passport and driver’s license.

In general, banks vary in their hours of operation but most are usually open Monday through Friday from 9 am to 4 pm with slightly longer hours for the drive-throughs.

Is there an ATM on campus?

Yes, there is a Bank of America ATM in Cotter Union. Individuals with a Bank of America account may use the ATM without a service fee. If you bank elsewhere, you may still use the ATM but you will be charged a small service fee (usually $2.00 or so).