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We carefully consider every student’s financial aid application for financial assistance. Through specific calculations, we measure your family’s financial strength, and if you’re deemed eligible for aid, your award will be tailored to meet 100 percent of your determined need.
With $25 million in aid awarded each year by the College, you may be surprised how affordable a Colby education can be.
Calculating your Expected Family Contribution
Expected Family Contribution (EFC) is the combination of expected parent contribution, student earnings and benefits, and a portion of student assets as well as other available resources (i.e. gifts from relatives or tuition benefits from a parent's employer). If parents are separated or divorced, the College may include an expected contribution from the noncustodial parent.
Our calculation is a two-step process:
Total Budget – EFC = Aid Eligibility