Applying for Financial Aid (process for returning/currently enrolled students)

Students must apply for financial aid each year so that annual aid offers reflect families’ more current financial circumstances. Our financial aid packages meet 100 percent of your demonstrated financial need, making this education available to students from every background. Financial aid eligibility is most commonly affected by changes in total income, the number of siblings enrolled in college, and changes in college costs. 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 there have been substantial unexpected and unavoidable changes to the family financial circumstances. This would not include anticipated changes such as an additional child enrolled in college, nor does it include employment changes which were discretionary choices. This two-year waiting period applies to Colby institutional financial aid only. A written explanation of the change is required as part of the CSS Profile application. 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 contact SFS at [email protected] or 1-800-723-4033 if you have any questions.

The table below lists the standard forms and documents required in order to apply for Colby institutional financial aid. Additional information may be requested when reviewing the application. All application materials are due April 30th in advance of the upcoming academic year. Though the government may allow tax filing extensions, it does not mean Colby can allow the same extension to apply for Colby financial aid. In correspondence with the FAFSA and CSS Profile, required tax return and income documentation relates to two tax years prior to the beginning of the school year.

Colby Financial Aid Portal: Colby Financial Aid Portal When logging in for the first time, a student should use the First Time User link (found in the login box) link to activate their account. Once activated, the student can login to securely upload documents, monitor the status of their aid application and missing documents, view their financial aid offer and more. The Direct Student Loan request will be available through the Financial Aid Portal for eligible students to access. There is no parent or guest access to the financial aid portal; all uploads must be initiated by logging in to the portal using the unique student login credentials created during activation.

New for 2026-27 Student Financial Services will accept initial application materials through College Boards  IDOC site. 

• Once the CSS Profile is completed, families will receive automatic communication from College Board/IDOC with details on the initial documents needed for your application. 
• Documents that can be uploaded through IDOC include tax returns, income documentation, wage statements and W2s from 2024. 

For the 2026-27 academic year: 

• Financial aid application deadline: April 30th, 2026
• Income documentation: 2024 (Year ended December 31, 2024)

*Students who may be eligible for state grant must submit the FAFSA by the state deadline which may be earlier than Colby’s April 30th deadline. Colby does not replace grants and scholarships that a student doesn’t receive due to late application. Deadlines are available on the FAFSA website.

2026-27:  Initial application materials (tax returns, income documentation, W2’s or other wage statements), should be uploaded through IDOC after completing  the CSS Profile. 

Students can continue to monitor the status of their aid 2026-27 aid application, including when documents are received, if additional documents are needed, and aid offer details through their Colby Financial Aid Portal. 

U.S. citizens and eligible non-citizens who are eligible and wish to apply for federal financial aid (Pell Grant, SEOG, Direct Loan, Federal Work-Study, PLUS Loan), must complete the FAFSA which is free on StudentAid.gov. When completing the FAFSA, you will be guided through the form, helping to ensure that it is completed accurately. Dependent students will need to provide information about their legal parent(s) on the application, each legal parent is considered a contributor. A contributor is anyone who is required to provide information on the FAFSA form, sign the FAFSA form, and provide consent and approval to have their federal tax information transferred directly from the IRS into the form. Once you have identified your form contributors, encourage them to create a StudentAid.gov account, so they can easily access your FAFSA form.

 If applying for Colby institutional financial aid, the FAFSA must be completed by the April 30th deadline mentioned above. If applying for only federal financial aid, the FAFSA may be completed throughout the academic year while the student is enrolled, and federal aid will be processed according to program regulations and deadlines. Students not applying for institutional financial aid are still encouraged to complete the FAFSA by April 30th so their federal aid eligibility can be determined and in place before the academic year begins.

Sometimes a FAFSA is selected for random verification by the U.S. Department of Education. If your application is selected for verification, we must confirm the accuracy of your FAFSA information. Students selected for federal verification will receive an e-mail from our office with instructions on how to proceed. 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.  There have been significant changes to verification requirements in recent years and verification can vary from student to student. Please click here for answers to frequently asked questions regarding this process.

Please click on the links below for information regarding federal loans for the student or parent.

Federal Student Loans
Federal Parent Loan (PLUS)

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 Offer’ through their financial aid portal. Applications not complete by the deadline, may be subject to an institutional grant reduction of up to $2,000; this is true even if the student doesn’t plan to enroll until the spring semester.

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 [email protected] for instructions. Student Financial Services focuses on initial awards through the month of August 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 September. 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 Direct Loans will not appear pending on the Student Account Statement until the student has completed the Direct Loan Request confirming their decision to borrow on the Colby Financial Aid Portal.

For Information about Financial Aid or Student Loan Scams, click here.

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 [email protected] for assistance.

Self-Certification Form