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Colby Announces New Financial Aid Policy

Dave_BerryDave_Berry CC Admissions Expert 492 replies2917 threads CC Admissions Expert
"To continue its commitment to identifying and supporting talented students from all socioeconomic backgrounds, Colby College announced it has expanded its financial aid policy so families with a total household income of $65,000 and typical assets will now have a parent or guardian contribution of $0. The policy, which will be available for all entering and current Colby students beginning next academic year, is made possible through a significant gift from Michael E. Koester ’94 and his wife, André R. Koester.

This new policy, which increases the household income threshold from $60,000 to $65,000, further positions the College’s financial aid as among the most competitive in the country. This important expansion is also especially relevant and necessary given that the current U.S. median household income is slightly above $63,000 according to the U.S. Census Bureau.

Colby is one of only a handful of highly selective schools to meet 100 percent of demonstrated need without loans – providing students the opportunity to graduate without student loan debt. Additionally, through the Fair Shot Fund families earning up to $150,000 with typical assets can expect an annual parent or guardian contribution of $15,000 or less." ...

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