The largest source of grants at Colby is the College's own funds. Colby grants, from more than 500 separate financial aid funds, are offered to eligible students. Eligible aid recipients are automatically considered for these endowed funds. This year Colby will award approximately $20 million in grant assistance from its own institutional resources.

Grants do not have to be repaid. They are available from a variety of sources, including federal and state governments, other outside agencies, and College gift and endowed funds. A condition of the Colby aid offer is that students will apply for all grants and scholarships for which they may qualify.

2006-2007 First-Year Students with Grant Aid
Total Parent Income*	# of Grant Recipients	Average Parent Assets	Average Parent Contribution	Range of Parent Contributions***
$0-29,999	11	$62,250	$1,740	$0-10,000
$30,000-44,999	9	$37,700	$1,110	$0-3,810
$45,000-59,999	14	$88,960	$4,950	$0-33,120
$60,000-74,999	10	$197,770	$8,650	$0-21,710
$75,000-89,999	14	$131,670	$11,300	$4,500-27,950
$90,000-104,999	11	$170,970	$13,970	$5,800-21,800
$105,000-119,999**	9	$260,450	$24,800	$12,000-38,070
$120,000-149,999**	14	$267,170	$26,150	$12,150-36,710
$150,000+**	9	$234,470	$24,010	$8,000-35,840

*Total income consists of both taxed and untaxed income, including contributions to retirement plans and excluding business, rental, and capital losses.
**Students whose parents' incomes fall into the higher income bands usually qualify for grant aid only if one or more of the applicant's siblings are enrolled in high-cost colleges.
***As indicated by the broad range of calculated parent contributions for each income band, it is impossible to estimate a parent contribution using this table. The range of contributions reflect the many factors included in the analysis.

NOTE: The figures in this table include only U.S. citizens, permanent residents, and Canadian students.

Federal Pell Grants are offered to students who demonstrate federal grant eligibility. Colby students apply for Federal Pell Grants by filing the Free Application for Federal Student Aid (FAFSA). Eligibility for Federal Supplemental Educational Opportunity Grants (FSEOG) is determined by the College on the basis of completed applications for Colby aid.

Like the federal government, some states offer grants to college students, and some permit the use of these grants at colleges in other states. Applicants for admission and financial aid are expected to apply for state funds that may be used at Colby.

Colby Replaces Student Loans with Grants