Colby Community College uses the FAFSA (Free Application for Federal Student Aid) in determining eligibility for Federal Financial Aid programs. The resulting Institutional Student Information Report (ISIR) is used by the financial Aid office to determine awards.

Male citizens of the U.S. and male resident aliens 18 to 25 years old must be registered with the U.S. Selective Service to be eligible for federal student loans and grants.

Grants

The Pell Grant is an award that is allocated dependent upon the financial need demonstrated by the student through the FAFSA application.

The Supplemental Education Opportunity Grant (SEOG) may be awarded in addition to the Pell Grant for those who demonstrate a high level of need.

Loans

The Perkins Loan is based on need and is available in varied amounts up to $2,000 per year at CCC. This Perkins Loan must be repaid. Interest does not accrue until nine months after the student completes his/her program or is taking less than six credit hours.

The Subsidized Stafford Loan is based on need. First year students may apply for as much as $2,625. The Subsidized Stafford loan must be repaid.

The Unsubsidized Stafford Loan is for students who do not demonstrate financial need through the FAFSA application process or for independent students who require additional funding. The loan must be repaid and interest accrues.

The Parent Loan (PLUS) is for dependent students. The loan is taken out in the parent name. It must be repaid in monthly payments beginning 60 days after full disbursement and interest accrues from date of disbursement.

Employment

The Federal Work Study program is for eligible students to be hired for on-campus and community service positions.  Employment usually does not exceed 10 hours per week.