Questions about financial aid top the list for many families. This is the perfect time for high school sophomores and juniors to begin exploring and asking questions. We have put together some resources to help you navigate the process of considering colleges and applying for financial aid.
Colgate is committed to meeting the demonstrated financial need of accepted students. In fact, the average financial aid award to first-year students in 2011 was $40,400. And that was just for the first year. Students reapply for financial aid each year, and our policy is to treat students consistently from year to year—we won’t lure you in with a great financial aid package only to change it drastically in subsequent years. Some students will see a significant increase or decrease, but that is related to things like a big change in income, or a sibling graduating from college.
We don’t “gap.” In other words, we meet 100% of students’ demonstrated need. Need is determined by the formulas used in the required aid form, the CSS Profile. We take our total cost of attendance, subtract your family contribution (determined by the Profile), and the result is your demonstrated need.
If you are curious about what this might look like for you if you are admitted to Colgate, I recommend using our net price calculator. You will supply information about you and your family (it’s completely confidential—we never see this) and the calculator estimates what your Colgate financial aid award would look like. You can do this on every college’s website. This is very useful information to have as you develop your list of colleges.
Our new financial aid brochure explains our aid process, offers advice to families as they explore options, and answers frequently asked questions. I also encourage you to check out our financial aid webcast.
Choosing a college is one of the most important decisions you will make—and we are here to help. We look forward to hearing from you!