Colby College

www.colby.edu

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2023 Undergraduate Tuition

$63,790

4.85% growth from 2022

2023 Average Net Price

$15,163

After Financial Aid

2020 Default Rate

on Student Loans

2023 Acceptance Rate

6.83%

17,786 Applicants

2023 Enrolled Students

2,284

99.9% Full-Time

2023 Graduation Rate

90.2%

498 Graduates

About

Colby College is a higher education institution located in Kennebec County, ME. In 2023, the most popular Bachelors Degree concentrations at Colby College were Econometrics & Quantitative Economics (94 degrees awarded), General Political Science & Government (66 degrees), and Neuroscience (44 degrees).

In 2023, 697 degrees were awarded across all undergraduate and graduate programs at Colby College. 56.5% of these degrees were awarded to women, and 43.5% awarded men. The most common race/ethnicity group of degree recipients was white (409 degrees), 6.6 times more than then the next closest race/ethnicity group, hispanic or latino (62 degrees).

The median undergraduate tuition at Colby College is $63,790, which is $34,510 more than the national average for Baccalaureate Colleges ($29,280).

In 2020 the default rate for borrower's at Colby College was 0%, corresponding to 0 out of the 165 total borrowers.

About the photo: Miller Library viewed from Lorimer Chapel

Photo by Roman Boed

Baccalaureate Colleges: Arts & Sciences Focus Baccalaureate Colleges

Costs

In 2023, the median undergraduate tuition at Colby College is $63,790, which is $34,510 more than the national average for Baccalaureate Colleges ($29,280).

After taking grants and loans into account, the average net price for students is $15,163.

In 2023, 44% of undergraduate students attending Colby College received financial aid through grants. Comparatively, 9% of undergraduate students received financial aid through loans.

Tuition Costs

$63,790

2023 Undergraduate Tuition

In 2023, the cost of tuition at Colby College was $63,790. The cost of tuition at Colby College is $34,510 more than than the overall (public and private) national average for Baccalaureate Colleges ($29,280).

This chart compares the tuition costs of Colby College (in red) with those of other similar universities.

Average Net Price

$15,163

2023 Value

10.5%

1 Year Growth

In 2023 Colby College had an average net price — the price paid after factoring in grants and loans — of $15,163. Between 2022 and 2023, the average net price of Colby College grew by 10.5%.

This chart compares the average net price of Colby College (in red) with that of other similar universities.

Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

Other Student Expenses

$11,265

Room and Board

$850

Books and Supplies

The average yearly cost of room and board at Colby College was of $11,265 in 2023. The cost of room and board increased by 4.06% between 2022 and 2023.

During the same period, the average yearly cost of books and supplies was $850. The cost of books and supplies did not change during the same period.

This chart compares the average student costs at Colby College (in red) with that of similar universities.

Financial Aid by Income Level

44%

Undergraduates Receiving Financial Aid through Grants

Undergraduates Receiving Financial Aid through Loans

44% of undergraduate students at Colby College received financial aid through grants or loans in 2023. This represents a growth of 2.33% with respect to 2022, when 43% of undergraduate students received financial aid.

This chart compares the average award discount at Colby College (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.

2020 Default Rate

Number of Defaults

In 2020 the default rate for borrower's at Colby College was 0%, which represents 0 out of the 165 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

Admissions

Colby College received 17,786 undergraduate applications in 2023, which represents a 5.3% annual growth. Out of those 17,786 applicants, 1,215 students were accepted for enrollment, representing a 6.83% acceptance rate.

There were 2,284 students enrolled at Colby College in 2023. 36% of first-time enrollees submitted SAT scores with their applications.

Colby College has an overall enrollment yield of 49.8%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

6.83%

Acceptance Rate in 2023

1,215

Accepted Out of 17,786

In 2023, the undergraduate acceptance rate of Colby College was 6.83% (1,215 admissions from 17,786 applications). This is lower than the acceptance rate of 2022, which was 7.61%. Between 2022 and 2023, the number of applicants grew by 5.3%, while admissions declined by 5.52%.

This chart compares the acceptance rate of Colby College (in red) with that of other similar universities, and the chart below shows the acceptance rate by gender.

SAT Scores

36%

Submission Percentage (2023)

219

Scores Submitted (2023)

36% of enrolled first-time students at Colby College in 2023 submitted SAT scores with their applications.

The following chart shows the average SAT scores for the 25th, 50th, and 75th percentile of applicants for each section of the test that they are evaluated on.

Enrollment

Colby College had a total enrollment of 2,284 students in 2023. The full-time enrollment at Colby College is 2,282 students and the part-time enrollment is 2. This means that 99.9% of students enrolled at Colby College are enrolled full-time.

The enrolled student population at Colby College, both undergraduate and graduate, is 53.5% White, 10.7% Asian, 8.27% Hispanic or Latino, 7.14% Two or More Races, 5.43% Black or African American, 0.0876% Native Hawaiian or Other Pacific Islanders, and 0.0876% American Indian or Alaska Native.

Students enrolled at Colby College in full-time Undergraduate programs are most commonly White Female (28.2%), followed by White Male (26.7%) and Asian Female (6.24%).

Full-Time vs Part-Time Enrollment

99.9%

Full-Time Enrollment

The total enrollment at Colby College in 2023, both undergraduate and graduate, is 2,284 students. The full-time enrollment at Colby College is 2,282 and the part-time enrollment is 2. This means that 99.9% of students enrolled at Colby College are enrolled full-time compared with 78.8% at similar Baccalaureate Colleges.

This chart shows the full-time vs part-time enrollment status at Colby College (in red) compares to similar universities.

Retention Rate over Time

91%

2023 Retention Rate

Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall. The retention rate for full-time undergraduates at Colby College was 91%. Compared with the full-time retention rate at similar Baccalaureate Colleges (74%), Colby College had a retention rate higher than its peers.

This chart shows the retention rate over time at Colby College (highlighted in red) compares to similar universities.

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

White
1,222 enrolled students
Asian
245 enrolled students
Hispanic or Latino
189 enrolled students

The enrolled student population at Colby College is 53.5% White, 10.7% Asian, 8.27% Hispanic or Latino, 7.14% Two or More Races, 5.43% Black or African American, 0.0876% Native Hawaiian or Other Pacific Islanders, and 0.0876% American Indian or Alaska Native. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all Baccalaureate Colleges is 53.2% White, 14.1% Hispanic or Latino, and 12.9% Black or African American.

Any student who is studying in the United States on a temporary basis is categorized as a "Non-Resident Alien", and the share of those students are shown in the chart below. Additionally, 85 students (3.72%) did not report their race.

Graduates

In 2023, 91 more women than men received degrees from Colby College. The most common race/ethnicity group of degree recipients at Colby College is white (409 degrees awarded). There were 6.6 times more white recipients than the next closest race/ethnicity group, hispanic or latino (62 degrees).

The most common Bachelor's Degree concentration at Colby College is Econometrics & Quantitative Economics (94 degrees awarded), followed by General Political Science & Government (66 degrees) and Neuroscience (44 degrees).

In 2023, the most specialized majors across all degree types at Colby College, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Natural Resources & Conservation (47 degrees awarded), Cultural & Gender Studies (21 degrees), and Social Sciences (184 degrees).

Common Jobs by Major

Lawyers, & judges, magistrates, & other judicial workers

Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at Colby College are Lawyers, & judges, magistrates, & other judicial workers (426,200 people), Other managers (316,531 people), Elementary & middle school teachers (204,549 people), Postsecondary teachers (186,425 people), and Chief executives & legislators (144,646 people).

The most specialized majors at Colby College in 2023 are Natural Resources & Conservation (47 degrees awarded), Cultural & Gender Studies (21 degrees), Social Sciences (184 degrees), English (43 degrees), and Philosophy and Religious Studies (15 degrees) (as of 2023).

Highest Paying Jobs by Major

Diagnostic medical sonographers

Highest Paying Job

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at Colby College are Diagnostic medical sonographers, Surgeons, Cardiovascular technologists and technicians, Securities, commodities, & financial services sales agents, and Magnetic resonance imaging technologists

The most specialized majors at Colby College are Natural Resources & Conservation (47 degrees awarded), Cultural & Gender Studies (21 degrees), Social Sciences (184 degrees), English (43 degrees), and Philosophy and Religious Studies (15 degrees) (as of 2023).

Common Industries by Major

Elementary & secondary schools

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at Colby College are Elementary & secondary schools (525,109 people), Colleges, universities & professional schools, including junior colleges (473,422 people), Legal services (357,138 people), Computer Systems Design (262,584 people), and General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals (218,560 people).

Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by Colby College.

Most Common (2023)

Econometrics & Quantitative Economics
94 degrees awarded
General Political Science & Government
66 degrees awarded
Neuroscience
44 degrees awarded

In 2023, the most common bachelors degree concentration at Colby College was Econometrics & Quantitative Economics with 94 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from bachelors degree programs at Colby College according to their major.

Sex Breakdown for Common Majors

303

Degrees Awarded to Men

in 2023

394

Degrees Awarded to Women

in 2023

In 2023, 303 degrees were awarded to men at Colby College, which is 0.769 times less than the number of degrees awarded to females (394).

This chart displays the sex disparity between the top 5 majors at Colby College by degrees awarded.

Most Common Male Majors

In 2023, 65 degrees were awarded to men at Colby College in Econometrics & Quantitative Economics, which is 2.24 times more than the 29 female recipients with that same degree.

Most Common Female Majors

In 2023, 31 degrees were awarded to men at Colby College in Neuroscience, which is 2.38 times more than the 13 male recipients with that same degree.

Time to Complete

81%

100% Completion Time

87%

150% Completion Time

In 2023, 81% of students graduating from Colby College completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 87% completed their degrees within 150% of the normal time, and 87% within 200%.

The following chart shows these completion rates over time compared to the average for the Baccalaureate Colleges Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.

Two or More Races Female

Highest Graduation Rate (100%)

The student demographic with the highest graduation rate in 2023 at Colby College is Female and Two or More Races (100% graduation rate). Across all Baccalaureate Colleges, Non-resident Alien Male students have the highest graduation rate (65.7%).

The department of education defines graduation rate as the percentage of full-time, first-time students who received a degree or award within 150% of "normal time" to completion.

The National Center for Education Statistics (NCES) categorizes any student who is studying in the United States on a temporary basis as a "Non-Resident Alien", and the graduation rate of those students is shown in the chart below. Additionally, 1.2% of graduates (6 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2023)

White
409 degrees awarded
Hispanic or Latino
62 degrees awarded
Asian
49 degrees awarded

The most common race/ethnicity at Colby College is white (409 degrees awarded). There were 6.6 times more white recipients than the next closest race/ethnicity group, hispanic or latino (62 degrees).

3.3% of degree recipients (23 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

White Female
220 degrees awarded
White Male
189 degrees awarded
Asian Female
37 degrees awarded

The most common race/ethnicity and sex grouping at Colby College is white female (220 degrees awarded). There were 1.16 times more white female recipients than the next closest race/ethnicity group, white male (189 degrees).

Operations

Colby College has an endowment valued at nearly $1.12B, as of the end of the 2023 fiscal year. The return on its endowment was of 38.8M (3.47%) compared to the 4.79% average return (2.46M on 51.4M) across all Baccalaureate Colleges.

In 2023, Colby College had a total salary expenditure of 211M. Colby College employs 87 Assistant professors, 69 Associate professors and 57 Professors. Most academics at Colby College are Female Assistant professor (57), Female Associate professor (38), and Male Professor (33).

The most common positions for non-instructional staff at Colby College are: Management, with 109 employees, Librarians, Curators, Archivists, and Academic Affairs and Other Education Services, with 103 employees, and Community, Social Service, Legal, Arts, Design, Entertainment, Sports and Media with 84 employees.

Endowment

$1.12B

2023 Endowment

0.564%

decline from 2022

Colby College has an endowment valued at about $1.12B, as of the end of the 2023 fiscal year. The endowment of Colby College declined 0.564% from the previous year. The value of their endowment was $1.06B higher than than the median endowment of Baccalaureate Colleges according to the Carnegie Classification grouping.

This line chart shows how the endowment at Colby College (in red) compares to that of some similar universities.

The small bar chart below shows the endowment quintiles for all universities in the Baccalaureate Colleges: Arts & Sciences Focus Carnegie Classification grouping.

Salary Expenditure

$80.2M

2023 Salaries

8.47%

growth from 2022

In 2023, Colby College paid a median of $80.2M in salaries, which represents 38.1% of their overall expenditure ($211M) and a 8.47% growth from the previous year. This is compared to a 5.01% growth between 2021 and 2022, and a 6.75% growth between 2020 and 2021.

The median for similar Baccalaureate Colleges is 15.7M (37.9% of overall expenditures).

Instructional Salaries

$28.4M

Instructional Salaries

250

Number of Employees

In 2023, Colby College paid a total of $28.4M to 250 employees working as instructors, which represents 35.4% of all salaries paid.

This is compared to a median of $552k (3.27%) for similar Baccalaureate Colleges.

Occupations by Share

Assistant professor

Most Common Instructor

87 Employees

Management

Most Common Non-Instructional Employee

109 Employees

In 2023, the most common positions for instructional staff at Colby College were Assistant professor with 87 employees, Associate professor with 69 employees, and Professor with 57 employees.

In 2023, the most common positions for non-instructional staff at Colby College were Management with 109 employees, Librarians, Curators, Archivists, and Academic Affairs and Other Education Services with 103 employees, and Community, Social Service, Legal, Arts, Design, Entertainment, Sports and Media with 84 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2023)

Female Assistant professor
Female Associate professor
Male Professor

In 2023, the most common demographic for instructional staff at Colby College was Female Assistant professor with 57 employees, Female Associate professor with 38 employees, and Male Professor with 33 employees.

This chart shows the sex split between each academic rank present at Colby College.

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