That’s right—Colby does not include loans in financial aid packages. In fact the College replaces student loans with grant money that does not have to be repaid, making it possible for students with financial need to graduate debt-free.
So, if you’re admitted, Colby will meet 100 percent of your financial need as determined by the College, and we will meet that need with grants and campus employment—not student loans.
This initiative is one of several at Colby aimed at ensuring that your academic qualifications, not your ability to pay, are the criteria for admission, and that once you get here you’ll have the same opportunities regardless of your financial resources.
Other initiatives include offering College funds to enrolled students who couldn’t otherwise afford to take unpaid internships and making stipends available for students to pursue academic research instead of campus jobs.
Though Colby’s financial aid packages are designed to meet 100 percent of your determined need, there are families who choose to borrow to cover out-of-pocket expenses (family contribution). The College offers additional financing information to help determine the best payment option for you and your family.