Colby financial aid packages are designed to meet 100 percent of demonstrated financial need with grants and employment. There are families, however, who choose to borrow for out-of-pocket (family contribution) costs or who wish to spread out payments over a period of time.
The Office of Admissions and Financial Aid will send detailed information about payment plans and loan programs to each admitted student. To get more information prior to our admissions decision, please call 207-859-4800 or e-mail firstname.lastname@example.org.
Supplementing With Outside Scholarships
There are thousands of outside scholarship opportunities available, and we encourage you to apply for as many as you can. Check with your college counselor for local scholarships and online for national scholarships for which you may be eligible.
Supplementing With Federal Loans
Students and parents may choose to borrow money through federal loan programs in order to cover education expenses. A number of loan choices are available, including Federal Perkins Loans and Direct Loans (subsidized, unsubsidized, and PLUS).
Supplementing With Private Loans
Private loans are available from lenders across the country. These loans allow parents to spread payments of college costs over 10 or more years. Interest rates and repayment terms vary.
College Payment Plan
In order to provide flexibility, Colby offers a 10-month payment plan in addition to the standard semester plan.