Avg. Federal Grant


Avg. Federal Loan


Total Aid Awarded

Colby College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.


Total Aid Amount Average Total Aid Awarded per year.


Financial Aid Official Website


Such schemes include Colby College - National Merit Scholarship, Maine Difference Scholarship, Maine Metal Products Association Scholarship, and Maine Public Relations Council Scholarship. As many as 44% of the students at CC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,224,942 in a year. More information regarding the financial assistance schemes can be accessed on CC’s official financial aid page at http://www.colby.edu/admissions_cs/financial_aid/. The total percentage of candidates applying to Colby College who receive the Federal Grant is 15%. On the other hand, 44% of the candidates get the Student Grant, 43% receive the Institution Grant, and 14% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $6,090, and the same stands at $1,350 for State Grant awardees and $50,717 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,747. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $57,923 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $58,613 and $58,300, respectively. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $50,166. And, for those with a family income of more than $110,000, the amount stands at $29,547. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At CC, an estimated number of 28% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid


State Grant Aid


Institution Grant Aid


Pell Grant


Average Aid Awarded

Federal Grant Aid


State Grant Aid


Institution Grant Aid


Pell Grant


Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000


$30,001 - $48,000


$48,001 - $75,000


$75,001 - $110,000


Over $110,000


Student Loans for Colby College

Average Loan Amount Average Loan Amount received per year.


Students Taking Out Loans


Loan Default Rate


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