Eligibility for federal student aid such as Pell Grant, Federal Direct Loans, and Federal Work Study, is determined by the FAFSA (Free Application for Federal Student Aid). Institutional aid eligibility (for Colgate Grant and Colgate Work Study) is determined by the CSS PROFILE.
Financial need is defined as the difference between the cost of attendance
at Colgate University and the expected family contribution. The expected family contribution is calculated by taking into account your family's financial circumstances such as income, assets, the number of siblings enrolled in programs leading to a first undergraduate degree, and the cost of a sibling's educational program, if less than Colgate's costs.
Students are automatically considered for all sources of financial aid, including federal, state, and institutional grants, loans, and employment. The composition of an aid award depends on several factors, including the extent of a student's financial need, eligibility for other aid resources, the availability of funds, and the date of application.
Need-based financial aid awarded by Colgate is considered supplemental to the resources of the family, including the student, and aid received from other sources. Colgate University does not offer financial assistance based on students having voluntarily declared themselves independent of their parents, nor are we able to offer additional assistance if parents are unwilling to support their child at Colgate. It is anticipated that a student who matriculated as a dependent student will remain dependent for financial aid purposes throughout his/her enrollment at Colgate.
Colgate grant assistance is awarded for full-time study and is limited to a maximum of eight terms of enrollment for students who matriculate as first-year students, regardless of whether or not they were aid recipients in any given term. Courses transferred to complete Colgate degree requirements will reduce this eligibility.
An expected student contribution is based on the student's current assets and earnings from an earlier tax year. A minimum contribution from summer earnings is expected of all students.
An expected parent contribution is based on the parents' current assets and income and tax information from an earlier tax year. Often the annual parent contribution is paid in two installments, with one-half paid prior to each semester; but our Financing Options
page provides some other alternatives as well.
The estimated costs used in determining financial aid eligibility are based on an estimate of students' fixed, on-campus expenses (tuition and activity fee); an estimate for room and meals; and estimates for those variable expenses incurred but not billed to the student account (books, supplies, domestic travel, and personal needs). Estimated costs do not
include a one-time transcript fee and health insurance, both of which are required for all Colgate students. If not already covered by health insurance, the student will be billed for health insurance coverage through Colgate; in either case, families need to cover that cost. Students who feel they may need assistance with the cost of Colgate's health insurance should contact the Office of Financial Aid
. No provision is made for expenses that are not directly related to college attendance.
Financial aid awards for the first year are binding once your enrollment deposit is received. If the information reported on your application is not reflective of your current circumstances, and/or if you have questions or concerns regarding the amount offered, please contact the Office of Financial Aid as soon as possible so we can address your concerns before the deposit is paid.
Colgate reserves the right to modify the financial aid listed in an award upon receipt of information affecting eligibility for financial aid. This can include, but is not limited to, changes in government funding, receipt of awards from other sources, verification of the number of siblings enrolled in undergraduate programs, or any new information received after the initial calculation of financial aid eligibility.
Unless otherwise noted, the amount(s) listed in the aid award are annual awards, with one half applied to the student account each semester. Work study is not credited to the student account; instead biweekly pay is issued for the hours worked.
All financial aid funds from either Colgate or outside agencies are processed as received
. Prompt application for loans and other outside awards insures availability of funds, generally by the third week of each semester. However, students should be prepared to provide personal funds to meet necessary initial expenses such as books and supplies.
If for some reason a student is unable to work during the summer and thus does not have the funds needed to purchase books, a payroll advance against future work-study earnings can be arranged through the Office of Student Accounts
; or, if the student has no work-study award, the student should contact the Office of Financial Aid
to discuss alternatives.
If the total resources applied to the student account exceed a student's charges, a refund may be due. Credit refunds resulting from financial aid (as opposed to family payments) will be issued automatically, each term, approximately one week after the end of the drop/add period. If later in the semester a credit appears on the account as the result of disbursement of federal
funds, a refund will be made automatically, within two weeks of the disbursement. Credit resulting from non-
federal funds will be applied toward a future semester unless the family requests that the funds be returned to the student or parent instead. Refunds required as a result of withdrawal or leave of absence will be made in accordance with the policy outlined in the Colgate University Catalogue
. Students will receive any refunds more quickly if they sign up for electronic (ACH) transactions directly through Colgate's TouchNet billing system.
Reapplying for Financial Aid
Domestic students (U.S. citizens and eligible noncitizens) need to reapply for financial aid annually by our published deadline, March 1. Financial need will be recalculated on an annual basis, taking into account changes in your family's financial circumstances such as income, assets, and number of household members enrolled in undergraduate school. Changes in your demonstrated need will impact the amount and types of financial aid available each year. Colgate Grant is not guaranteed for late applicants.
International students who receive financial aid for their first year do not need to reapply for aid annually. International students who become U.S. citizens or eligible noncitizens during their enrollment will thereafter be treated as domestic students and must reapply for aid annually. International students who did not receive Colgate aid upon admission are not eligible for aid in subsequent years.
Colgate Grant recipients can receive additional assistance for one Colgate-directed/approved off-campus study group and one Colgate-directed extended study program. Colgate Grant is awarded to meet extra off-campus-study costs after loans have been increased by $1,500. If you borrow the maximum in federal loan eligibility for purposes other than the extra cost of your off-campus study program, your Colgate Grant will not be increased beyond the standard level.
Students who have concerns about their awards should contact the Office of Financial Aid as soon as possible after receiving notification of the award, and at least one week prior to the enrollment deposit deadline.
A Request for Review form will be sent upon request; the form must be completed and returned before a review can be conducted. Generally, reviews can be considered only before
the deposit has been paid. A student who wishes to decline any part of an award must do so in writing
to the Office of Financial Aid
All financial records are protected in accordance with the Family Education Rights and Privacy Act (FERPA) of 1974, as amended.