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Economic score
Colby College is a private liberal arts college located in Waterville, Maine. Colby College is extremely selective in their admissions.
Return on educational investment at Colby College is in the top 10% of all ranked schools. The median student earns $71,127 10 years after enrolling, 2nd in Maine, and in the top 10% nationally. When adjusted for earning differences by major, Colby College bachelor students earn 22% more than the national average. Colby College is ranked 1st in Maine.
Colby College’s median net annual cost of $19,597 and average years to graduate of 4.1 are reported only at the school level. We assume these same costs and graduation time for all programs.
The top 6 programs at Colby College sorted by number of graduates - Economics, Poli Sci/Government, Natural Resource Conservation, General Psychology, Biology, International studies - are shown below. To see more programs, click on "see additional programs".
Annual net cost
$19,597
Average years to graduate
4.1
Romance Language & Linguistics
Rank: #23
Economic score: 3.33
English Language & Lit
Rank: #55
Economic score: 4
The average student at Colby College takes 4.1 years to graduate, with 89% graduating within 8 years. The graduation rate at Colby College is 29% more than the state average and 20% more than the average for all liberal arts colleges in the country.
At Colby College, Pell Grant recipients represent 15% of the measured graduating class, 20% lower than the national average of 35%. The average Pell Grant recipient at Colby College graduates within 4 years.
Colby College is in the bottom 50% of schools for graduating Pell recipients.
We calculate this performance by adjusting the graduation rate of Pell students by their percentage of the student body. This adjustment is made to prevent schools with large numbers of Pell students from underperforming in comparison to schools with few Pell students but high graduation rates.
Colby College’s economic mobility score of 14.66 is calculated by adjusting the 0.34 economic score of lower-income students by the 15% pell grant recipients within the student body. Colby College’s EMS of 14.66 ranks in the bottom 50% nationally.
Economic Mobility
To calculate economic mobility of low-income (household earnings below $30,000) students, we adjust each institution’s economic score by their percentage of Pell Grant students. The logic of this Pell-adjusted calculation is derived from Third Way’s Economic Mobility Index (EMI).
Bottom 50%
The average Title IV recipient at Colby College pays $19,597 a year, $56,828 less than the $76,425 advertised. See below the cost breakdown for students who receive Title IV grants, broken down by income level.
Average net price
The average net price shown by income level for all students that receive Title IV aid. Calculated by deducting the average grant and scholarship aid from tuition, fees, books, and room and board. Limited to first-time, full-time students. Public institution figures are calculated using in-state tuition figures.
Median net price $19,597
Much of the gap between net price and sticker price is filled by institutional and government grants. At Colby College, 39% of students receive some grants and scholarships, compared to the national average of 87% for all colleges and universities. The average amount of federal, state, and institutional grants that students receive is shown on the right.
This leaves a total of $19,597 on average to be covered by the student – be it through loans or out of pocket. In total, 8% of students take out loans, federal or private, at an average amount of $7,528. This is 46% less than the national average.
Federal grants
$5,140
Pell grants
$4,936
State grants
$1,500
Institutional grants
$56,042
Colby College's extremely selective admissions are indicated by their 9% acceptance rate. In 2021, the school had 15,857 applicants, of which 1,407 were admitted and 667 enrolled. Colby College doesn't have a rolling admissions policy, which means applications are reviewed after a hard admissions deadline.
Full time
100%
83%
Female
57%
59%
First time
92%
59%
In-state
6%
68%
1st generation
11%
35%
White
61%
52%
Black
5%
14%
Hispanic
8%
15%
Asian
9%
5%
American Indian
N/A
1.6%
Pacific Islander
N/A
0.3%
Other
17%
12%