Business, Management, and Financial

Scholarships (Internal)

To qualify for scholarships, students must attend 12 or more hours per semester and meet all requirements specific to the scholarship opportunity.

• All scholarships are applied to Fall and Spring billing terms only.
  NOTE: Scholarship monies are not applicable to summer courses unless specifically notated in the scholarship description.
• Students are able to apply for and accept as many scholarships as they qualify for, however, institutional scholarship monies cannot exceed the student's direct costs at Colby Community College. Excess Institutional Scholarship dollars will not result in a credit
• Scholarships are NOT auto renewed unless specifically notated in the scholarship description.
• All scholarship monies are at the discretion of the awarder. These funds can be revoked or prorated at any time based on the scholarships qualifying
  • Performance Based scholarships - Recipients must meet performance and participation standards set forth by the awarder. Please review Performance Based Scholarship Requirements for more detailed information.
  • Merit Based Scholarships - Recipients must possess and maintain required cumulative GPA or other academic indicators set forth by the awarder.

• Based on Title IV regulations, scholarship totals exceeding the cost of attendance may result in a reduced offer for student loan(s) and/or institutional scholarship(s).
  
  

Scholarship Terms

 Institutional Scholarship: Scholarships offered and awarded by employees of Colby Community   College. This includes Athletics, Academic, Leadership, Field of Study, Co- Curricular, and Campus Visit scholarship categories.

Students are only eligible to receive one (1) institutional leadership scholarship (Effective starting 2021-2022 Academic Year).

Foundation Scholarship: Scholarships offered and awarded by the Colby Community College Endowment Foundation and their board.

External Scholarship: Scholarships are awarded to students by organizations outside of Colby Community College.

Outside scholarships count as a financial aid resource and must be added to a student's financial aid award. The Office of Financial Aid first applies the outside scholarship to a student's unmet need that is not already covered by financial aid. In some cases, loans not based on financial need may be reduced (private loans, Federal Unsubsidized Loan, Federal PLUS Loan) in order to accommodate the addition of an outside scholarship. If the student's need is already met by need- based aid, then that aid is replaced with the outside scholarship. Need-based loans are first replaced.

Financial Aid Terms

Direct Cost: Charges that must be paid directly to the college. This includes tuition and fees, as well and room and board if the student is living on campus.

Indirect Cost: Estimated expenses that may be incurred by the student. These expenses are not paid to the college. Examples of indirect costs are transportation, room and board for off campus students, and books and supplies that aren’t billed directly to the student from the college.

Cost of Attendance (COA): Not the bill that a student may get from the college; it is the total amount it will cost a student to go to college each year. The COA includes tuition and fees; on-campus room and board (or a housing and food allowance for off-campus students); and allowances for books, supplies, transportation, loan fees, and, if applicable, dependent care. It can also include other expenses like an allowance for the rental or purchase of a personal computer, costs related to a disability, or costs for eligible study-abroad programs.

[Adopted July 2020; Updated April 2021]