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Big myth: Maine students can't afford Colby
Kennebec Journal & Morning Sentinel Monday, April 16, 2007

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This is the time of year when high school seniors across the country receive those anxiously awaited college admission letters. For many seniors, acceptance to college is only the first victory. In order to go to their college of choice, these students need to receive enough financial aid to make it possible.

But sadly, the winnowing process sometimes begins long before acceptances go out. It begins before students even apply to college. "I could never afford to attend," they say.

In Maine, where many families make less annually than the cost of a year's tuition, room, and board at Colby, this reaction is common.

But those who think that the price of attending Colby means they can't afford it are wrong.

The reason for this is simple. Colby has millions of dollars in endowment money for financial aid. We assess each admitted student's need, and we meet that need. We even have more than 125 scholarships and funds that designate $1.4 million a year specifically for Mainers.

I wish I could say that those funds are a result of my 21 years of work at Colby. After all, I am a Maine kid -- graduated from Cony High -- and I am deeply committed to students from this great state. And as I read applications every year, I am consistently impressed by the quality of students who apply from Maine high schools.

My commitment to my home state isn't why Colby gives millions of dollars in grants to Maine students (in 2006-07 that amount was $3,456,950). Colby has always made Maine students a priority.

Why? There are a couple of reasons, and the first seems obvious. Colby's roots are in Maine. Just as I am committed to the state because of all that it gave me, Colby is grateful for all that Maine has done to help make the college what it is.

Less obvious, perhaps -- although I wish it weren't -- is that Maine students excel here. In the past 23 years, 12 Colby valedictorians have been from Maine. That's right. More than half. This is at a college where talented and high-achieving students come from 44 different states and 66 different countries.

When Chairman of the Colby Board of Trustees Joe Boulos '68 shared this information with the admitted students who attended Maine Day at Colby a week ago, eyebrows went up around the room. I like to think that is a reflection of the humility you find in Maine people.

Boulos came to campus to speak with these students because, as a native of South Portland, he too is committed to Maine students. Beyond that, he was addressing a situation that concerns us at Colby. Last year, though we admitted roughly the same number of Maine students, fewer enrolled. Colby's percentage of Maine students dropped to a level that made him -- and many of us -- uncomfortable.

Colby aims for Mainers to make up 10 to 12 percent of each entering class. Last year the percentage dropped to just below double digits. While we're not sure exactly why the drop occurred, it was cause for concern.

If Maine students are leaving the state because they want to experience life outside Maine, fine. If it's because they got into their first-choice school, and it wasn't Colby, I can live with that. But if they are not applying to Colby because they think they can't afford it, that's not okay -- and it's not true.

Two years ago when Colby waived the application fee for Maine students, our message was clear: Just apply. It can't hurt. Give us a chance and see what your financial aid package looks like. You might be pleasantly surprised.

Parents might be pleasantly surprised to learn that in 2006-07, Colby's average grant award to Maine students was $25,800. That's money that doesn't have to be paid back.

As I write this, students admitted to Colby's Class of 2011 are considering those long-awaited financial aid packages. For many, this is another time to celebrate, because they are finding out for themselves that indeed they can afford a Colby education.

Parker J. Beverage is Dean of Admissions and Financial Aid at Colby College.


Reader comments

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John of Winthrop, ME
Apr 17, 2007 8:05 PM
I think you missed my point. I will give money to Colby once they return to need blind admissions. I don't feel that admission should be based on a persons financial status. I am glad you can afford to spend 46,000+ for your child's education. But this article was about Maine residents. As Maine has a lower income than many states. Would you feel the same if you didn't have the money and your child didn't get in because Colby had run out of financial aid money and they offered admission to a student with lesser academic credentials but more financial resources. This is what happens when need blind admissions is lost.


Also when the financial aid department claims to give awards that are loans, I have a problem with it. It is great to state what the average award is but it probably would mean more if we gave a real statistical breakdown of the awards but I don't wish to get into a statistical debate.

Yes I chose to go to Colby, yes I got a good education. As you stated you can get a good education at a state school as well, but when people state how affordable Colby is I have a problem.

Yes I pay my loans back as I am supposed to. I don't appreciate the snide tone regarding this. I make more than 90% of the population of Maine and know I couldn't afford 46,000 a year for my sons. When you figure my gross income out it looks great but when you factor in the taxes etc, the take home looks very different as Maine is one of the highest taxed states in the country. So please don't preach to me. I know I won't get aid for my sons as I am planning for retirement and really am not looking forward to discussing what we can and can't afford for colleges.

So basically I am glad you have the financial resources to send you child here but again I bet New Canaan CT is very different than Maine in terms of income and resources.

If my "gift" went exclusively to Maine scholarships I would give.


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PGHNC of New Canaan, CT
Apr 17, 2007 2:19 PM
John,
College is a privlidge,(unfortunately)not a right. If $ was a major issue for you, you could have chosen much less expensive alternatives than Colby - i.e. State Univ, etc.
We have a child at Colby - for which we pay 100%, no aid & no loans, because we are fortunate enough to have the $. I attended a City college in NYC because my parents had no $ and the tuititon was essentially free. That's the choice I made - no loans.
Life is all about choices - you chose to go to Colby & take out the loans. Hopefully, you are a better & brighter person for it. Meanwhile, pay back your loans like you're supposed to and stop complaining. It was your choice - accept it. (You might want to consider giving some $ to Colby, too, so that other kids could benefit!)report abuse
John of Winthrop, ME
Apr 16, 2007 8:20 PM
I am interested to read this. I am a graduate of Colby. When I was attending the policy on admissions changed and was no longer need blind. This meant that if admission came down to 2 people the one who does not need financial aid would get in instead of one who needed it. I wonder if that is really the case and it is only based on merit, or if once the financial aid money is gone only the rich get in.

I am still paying for my Colby education. I have been out over 12 years and still am paying. I went on to graduate school after and accumulated more loans but still find it amazing to be paying for Colby though I make a reasonable living.

I did not get financial aid except for loans, that is a great way to help a student, have them borrow so they can be paying for it for years to come. Still the financial aid department claims this is a benefit. Oh boy I can borrow money. My parents had put together a small nest egg for retirement, and believe me it was not substantial, but that was the reason I could not receive aid. My parents were teachers and by no means wealthy, but again because they had put something aside for retirement no financial aid for me other than loans. I look at loans differently today than I did as a teen.

Anyway I laugh as I receive the requests for money from Colby. I have considered giving money to my school but might think about it more once I have paid off my education.

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