by Katerina Nikolas

Created on: November 11, 2010

Situated in Hamilton, New York State, Colgate University was founded in 1829. Today it is a notable independent liberal arts college with a highly selective student intake, attracting a diverse and talented student body. Academic excellence is required for admission, and the university mission is to “develop wise, thoughtful, critical thinkers and perceptive leaders.”

Hamilton is just one hour away from Syracuse, and five hours drive from New York City. The University campus is in a beautiful setting and has a fine reputation for research. Colgate University boasts the oldest weekly college paper in America with the acclaimed ‘The Colgate Maroon News.’

The college is committed to meeting 100% of financial need to admitted students, but does not have a need-blind policy. Nevertheless it encourages students not to be deterred by the high costs of attending as they may well be eligible for financial aid. In order to meet the needs of those with demonstrated financial need the college offers no merit based scholarships, though it does have a number of athletic scholarships.

The current total estimated costs of attending Colgate University are just over $54,000, with tuition making up $41,458 of the total. All students are required to have health insurance, either from a family plan or from the college, and financial aid does not cover this cost.

Financial aid is comprised of federal and state grants, Colgate grants, work study, and federal loans. All families and students are expected to make a contribution towards costs, with students expected to make a contribution from summer earnings. Financial aid is considered the difference between the expected family contribution and the cost of attending Colgate. Work study consists of 10-12 hours per work and is awarded as part of the financial aid package.

The parental contribution is determined by a number of factors. Both income and assets including real estate, savings and investments are considered, along with other educational expenses incurred by other siblings in college. Students from middle income families receive $13,000 of college grant aid before work study and loans are calculated.

If a student is awarded scholarships from outside sources these firstly reduce the amount of expected family contribution, self help and work study needed. Colgate grants are only reduced after deducting these three factors. The Colgate grants are provided by the college from University funds.

Residents of New York State will be eligible for the New York State Tuition Assistance Program, and federal grants can be applied for through submitting the FAFSA. Additionally approximately 200 freshmen are awarded an Alumni Memorial Scholarship each year which recognizes leadership, talent and academic achievement. This scholarship is not limited to those with financial need.

Financial aid goes a long way towards making Colgate University affordable for those who meet the criteria and should be an incentive to those who aspire to study there to apply.

Source: colgate edu

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