The Colby Echo

Issue date: 4/22/09 Section: Class at Colby

Recently, 222 students participated in an online survey regarding facts and perspectives on financial aid at Colby. Of those surveyed, 43 percent identified themselves as receiving aid from Colby, and 57 percent said they did not. This surveyor was surprised to find many similarities among the answers of both categories of students; however, certain trends and patterns did arise.

Thinking-caps on, let's see how you would have fared. Survey says...

What percentage of students receive grants from Colby? Slightly more than half of those surveyed got this answer wrong by at least 20 percent, many by considerably more. According to Colby's Financial Aid website, 36 percent of students receive grants from the College. Receiving aid, though, does not seem to help you answer this question, as both categories of students guessed equally poorly.

Does that mean Colby students are not talking about paying for college?
Surprisingly, both recipients and non-recipients of aid not only talk about paying for Colby with friends or family, but both talk about it frequently. 48 percent of all Colby students talk about finances at least once every two months, and that number jumps to nearly 70 percent for students who talk about it at least once every four months. Virtually no one avoids the subject altogether. On the surface, it appears that students on the Hill are, by and large, concerned with the cost of their education.

However, for many more students on financial aid, in comparison to those who are not, there are financial obligations after graduation (e.g. to loan companies, or to others helping fund their education.) Thus, if you are a student not receiving aid, you are at least 20 percent more likely to pursue unpaid activities immediately after leaving Colby (e.g. graduate school), and this disparity is even greater when only considering unpaid activities like volunteer work or travel. Note: this does not reflect students' long-term plans, but rather those immediately following graduation.

In this difficult economic recession, the College must reevaluate its financial priorities, including funds directed towards financial aid that could be allocated elsewhere.

At the same time, many students and families at the College need aid now more than ever. Who would be in favor of increasing aid: those receiving it or those not? Surprisingly, 41 percent of non-recipients would like to see the College increase aid for those in need.
This, in comparison to the 42 percent of actual aid recipients who also favor an increase, shows that across socio-economic lines students have similar priorities for Colby. (Note: only three percent of all students saw a need for decreasing aid awards. Most hoped for aid to at least remain the same.)

In this survey, the College reveals itself to be a widely conscientious and considerate student body, at least as far as financial aid and directly relate topics are concerned. How would we fare in other realms of socio-economics?
Feel free to contact the author at bfmawhin@colby.edu for more information regarding this survey.

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