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SCHOLARSHIPS (INTERNAL)

In order 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.
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
students direct costs at ºÚÁÏÉç. Excess Institutional
Scholarship dollars will not result in a credit balance.
• 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
indicators.
o 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.
o 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 1 institutional leadership scholarship
(Effective starting 2021-2022 Academic Year).
Foundation Scholarship: Scholarships offered and awarded by ºÚÁÏÉç
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]

SCHOLARSHIPS (PERFORMANCE-BASED)
ºÚÁÏÉç students receiving a performance based (i.e. athletic, co-curricular, band, residence assistant,
and vocal) scholarship will be required to take a minimum of 15 credit hours each semester they are
receiving the scholarship. In addition, these students shall have 40 percent of their degree completed
by the end of their first year (does not include zero level courses). These students will also be
required to attend at least one Financial Aid Workshop each semester, unless they can provide
evidence their FAFSA and all necessary paperwork has been completed. Failure to meet these
expectations may result in academic probation or even revoking the scholarship in extreme
circumstances. This includes, but is not limited to, the NJCAA Letter of Intent and Scholarship
agreement.
Students transferring in credit hours and receiving a scholarship must be granted written permission
by the Vice President of Academic Affairs OR Vice President of Student Affairs to take less than 15
credit hours a semester as long as they meet or on track to meet 40 percent towards their degree.
All scholarship grade point average requirements and eligibility rules still apply.

[Added November 2019]
[Updated Dec. 2022