Colby College
Waterville, ME 04901-8840
About Colby College
Colby College is a private university in Waterville, Maine, enrolling about 2,407 students. Admission is highly selective for first-time degree-seeking undergraduates reporting admissions data to the Education Department. The acceptance rate is about 7.09% in the latest College Scorecard admissions data. Median earnings about ten years after entry reach about $80,490 among students who received federal aid.
Key findings
- Colby College charges about 2.4× the national private non-profit median tuition ($69,600).
- Versus the Maine median, sticker tuition is about 5.4×.
- Colby College admits about 7.09% of applicants (extremely selective).
- Completion within 150% of normal time is 88.79%.
- Median earnings 10 years after entry are $80,490.
Research findings
Finding
Average net price at Colby College is about 75% below published tuition.
Published tuition is $69,600; average net price is $17,180 in the latest Scorecard extract.
Interpretation: Institutional aid and grants compress sticker price into a substantially lower typical undergraduate cost signal.
Limitation: Average net price masks variation by household income; income-band net prices can diverge sharply from the campus average.
Finding
Modeled return on investment at Colby College is strong.
Estimated ROI reaches about 1071% using Scorecard cost and 10-year earnings fields in this extract.
Interpretation: On this institution-wide model, typical graduate earnings over a decade substantially exceed estimated net education cost.
Limitation: ROI is institution-wide and not program-specific; individual outcomes vary by major, aid package, and labor market.
Cost benchmarks
| Benchmark | Median Tuition | Median Net Price | Count |
|---|---|---|---|
| Colby College | $69,600 | $17,180 | 1 |
| Private Non-profit (national median) | $29,325 | — | 1,444 |
| Maine (state median) | $12,983 | $8,205 | 28 |
| Town (locale median) | $9,600 | $14,971 | 1,517 |
| United States (national median) | $11,900 | $17,156 | — |
Compares this campus to school-type, state, and locale medians plus a U.S. national median (College Scorecard–derived). Locale groups campuses by NCES locale type; state tuition is the median published tuition among campuses in that state.
Average net price is 75% below published tuition at Colby College
Key findings
- Colby College's average net price ($17,180) is 75% below published tuition ($69,600).
- Colby College charges about 2.4× the national private non-profit median tuition ($69,600).
- Versus the Maine median, sticker tuition is about 5.4×.
Colby College tuition
Published undergraduate tuition $69,600
Finding Colby College charges about 2.4× the national private non-profit median tuition.
Evidence Published tuition is $69,600. That is about 2.4× the national private non-profit median ($29,325). Versus the Maine median ($12,983), sticker tuition is about 5.4×. Versus the U.S. median ($11,900), sticker is about 5.8×.
Method Sticker tuition compared with Scorecard-derived medians by ownership, state, locale, and national rollups when available.
Interpretation Published tuition measures sticker price relative to private non-profit and geographic peers; it does not equal what undergraduates typically pay after aid.
Limitation Sticker comparisons omit room, board, and institutional aid; average net price and income-band net prices are the stronger signals of typical family cost.
Evidence: published tuition at Colby College versus school-type, state, locale, and U.S. medians.
Evidence: average net price at Colby College versus state, locale, and U.S. medians.
What undergraduates typically pay
Finding Average net price at Colby College is $17,180.
Evidence College Scorecard average net price is $17,180 (cost of attendance minus average grant aid for aided undergraduates). That is about $8,975 above the Maine median net price. Versus town campuses, net price runs $2,209 above the locale median.
Method Average net price from College Scorecard; compared with state, locale, and U.S. medians from EDsmart aggregates.
Interpretation Average net price is a stronger institutional cost signal than published tuition because it incorporates grant aid.
Limitation The campus average masks large differences by household income; income-band net prices can diverge sharply from the overall average.
Key takeaway Colby College’s published tuition substantially overstates typical undergraduate cost: average net price is about 75% lower after grants and scholarships.
Colby College: research record
Canonical EDsmart Data findings for Colby College—costs, outcomes, admissions, and programs—with evidence and methodology notes.
Research findings
Interpretation
Completion, earnings, and net price together describe a campus where sticker price overstates typical undergraduate cost while outcomes remain at the high end of Scorecard distributions.
Financial profile
Annual tuition
$69,600
Avg. net price
$17,180
Net price by family income
| Income bracket | Avg. annual net price |
|---|---|
| $0–$30,000 | $4,049 |
| $30,001–$48,000 | $1,251 |
| $48,001–$75,000 | $3,666 |
| $75,001–$110,000 | $12,106 |
| $110,001+ | $46,511 |
Sticker tuition × four years (estimate, no room/board): $278,400. See cost investigation.
Student outcomes
Share of first-year students returning the following fall.
Graduation rate and 10-year earnings are in the hero strip above; see Graduates for more.
What Colby College is known for
Top program completions
- Econometrics and Quantitative Economics107
- Psychology, General50
- Political Science and Government, General49
- Computer Science35
- Environmental Science33
See earnings & programs for more.
Admissions landscape
- Extremely selective — fewer than 1 in 10 applicants are admitted.
- Yield: 50% of admitted students enrolled.
- Average SAT: 1501
- Midpoint ACT: 33
See Admissions for the full funnel.
Is Colby College a good school?
Data-framed fit—not a prestige rating.
Colby College is a good school for those looking for strong completion and solid mid-career earnings—especially where average net price sits well below published tuition (about 75% lower in this extract).
EDsmart Data does not assign an opinion score; this framing summarizes the strongest Scorecard signals for this campus.
More from the data
Location, control, enrollment, and aid context for Colby College.
Campus
Location
Waterville, ME
City / state
- ZIP
- 04901-8840
- NCES locale
- Town remote
Compared with Town campuses nationally, net price is 15% above the median for Town campuses ($14,971 median).
Control
Institution type
Private Non-profit
Control
- Region
- New England
- Carnegie
- Baccalaureate Colleges: Diverse Fields
Size
Enrollment
2,407
Total enrollment
- Undergraduate
- 2,553
- Full-time share
- 100%
Student aid
Debt & aid
$19,157
Median federal loan debt
- Pell grant share
- 14.32%
Total Cost, Aid & Default
Total Cost of Attendance
Tuition vs average net price after aid for Colby College.
Financial Aid by Income Level
Financial aid distribution by income level.
Student Loan Default Rate
The published 3-year cohort default rate for borrowers at Colby College was 0.00%.
Cohort default rates account for borrowers who default in the first three years.
Tuition tracker
Published tuition and average net price by reporting year come from the College Scorecard institution file. Values are not adjusted for inflation; missing cells mean the field was not reported or was suppressed for Colby College in that year.
Reporting years in the table below: 2013–2023 (Scorecard labels refer to the institutional submission cycle).
| Year | In-state tuition & fees | Out-of-state tuition & fees | Average net price |
|---|---|---|---|
| 2013 | $45,760 | $45,760 | $23,428 |
| 2014 | $47,350 | $47,350 | $23,566 |
| 2015 | $49,120 | $49,120 | $25,530 |
| 2016 | $50,960 | $50,960 | $25,848 |
| 2017 | $53,120 | $53,120 | $20,739 |
| 2018 | $55,210 | $55,210 | $18,553 |
| 2019 | $57,280 | $57,280 | $17,777 |
| 2020 | $59,430 | $59,430 | $19,597 |
| 2021 | $61,220 | $61,220 | $17,739 |
| 2022 | $63,520 | $63,520 | $16,507 |
| 2023 | $66,600 | $66,600 | $23,939 |
Sticker tuition and net price over time
Where the institution reported separate in-state and out-of-state tuition, both appear. Gaps mean the value was not reported for that year.
College Scorecard reporting-year fields (not inflation-adjusted).
Net price by family income
Brackets follow Scorecard definitions for the series shown (public vs private institution).
Latest income-band net prices available in the processed extract.
How difficult is it to get in?
Acceptance Rate
This institution is extremely selective, accepting fewer than 1 in 10 applicants.
Applicants → admits → first-time enrollment from College Scorecard / IPEDS. Bar widths are scaled for readability at highly selective schools.
Test Scores
Average 1501 (middle 50% not reported)
Midpoint 33 (middle 50% not reported)
Scores for enrollees who submitted tests (College Scorecard).
Academic Requirements
Estimated from admission selectivity and test scores. Scorecard does not publish admitted-student GPA for most institutions.
Estimated range · median 4.00
Estimated GPA band from selectivity and test scores — not an official requirement.
Enrollment & Student Demographics
Colby College reported total enrollment of about 2,407 students in the latest College Scorecard extract. The student body is about 49% male and 51% female. Enrollment by race and ethnicity includes White (54.9%), Non-Resident Alien (11.2%), and Asian (10.2%). About 14.32% of undergraduates receive Pell Grants. Roughly 10.9% of students are first-generation college students.
Full-Time vs Part-Time Enrollment
100.0% Full-Time Enrollment
The total enrollment at Colby College in 2024 is 2,407 students.
Undergraduate enrollment is about 2,553 students.
Full-time vs part-time enrollment comparison.
Retention Rate over Time
93.7%
2024 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.
Retention rate over time compared to similar institutions.
Enrollment by Race & Ethnicity
Largest share of total enrollment in our College Scorecard extract.
College Scorecard student demographics (total enrollment shares).
Do students complete their programs?
Time to Complete
75.34% 100% Completion Time
88.79% 150% Completion Time
In 2024, 75.34% of students graduating from Colby College completed their program within 100% "normal time".
Completion rates over time compared to similar institutions.
Completions by Sex (Top Programs)
- Econometrics and Quantitative Economics: 71% male / 29% female
- Psychology, General: 36% male / 64% female
- Political Science and Government, General: 65% male / 35% female
IPEDS completions by sex for the five largest programs (aggregate CIPs excluded).
Completions by Race & Ethnicity
Largest group by summed IPEDS award counts across reported programs.
Summed across program completion records in our extract.
Colby College graduates earn a median of $80,490 ten years after entry
Finding Earnings, debt, and program mix define the financial profile of Colby College.
Evidence Median earnings 10 years after entry: $80,490. Median federal loan debt: $19,157. Average net price used in cost models: $17,180.
Method College Scorecard median earnings (10-year), median debt, and EDsmart ROI / payback models using campus net price.
Interpretation Institution-wide ROI and debt ratios summarize campus averages; program choice still drives individual outcomes.
Limitation Salary reflects median earnings ten years after entry; ROI is not program-specific.
Key takeaway Colby College graduates report median earnings of $80,490 ten years after entry—an institution-wide outcomes signal, not a program guarantee.
Return on Investment
Debt and 4-year net cost vs. cumulative 10-year median earnings for Colby College.
Top Programs by Completions
Largest 10 programs by IPEDS completions (46 reported codes; aggregate/unknown CIP buckets excluded).
IPEDS award counts for the largest programs at Colby College.
Employment Outcomes
Median earnings 6, 8, and 10 years after entry for Colby College graduates.
How financially powerful is this institution?
Finding: federal finance and Scorecard instructional fields for Colby College—endowment assets (fiscal year 2023), instructional staffing and expenditure. Compared with state, regional, and U.S. medians from EDsmart Data institutional financials.
Institutional endowment
$1.12B
End-of-year assets · Fiscal year 2023
- Maine median 72× the median ($15.4M)
- New England median 26× the median ($42.9M)
- U.S. median 42× the median ($26.4M)
- Maine median 39× the median ($12,087)
- New England median 20× the median ($23,268)
- U.S. median 39× the median ($12,100)
Instructional Resources
- Full-time faculty share: 93.1%
- Maine median 40.0 pp above median (53.1%)
- New England median 39.8 pp above median (53.3%)
- U.S. median 35.2 pp above median (58.0%)
- Average faculty salary (monthly): $13,207
- Maine median 1.7× the median ($7,625)
- New England median 1.4× the median ($9,262)
- U.S. median 1.7× the median ($7,615)
- Instructional expenditure per FTE: $27,972
- Maine median 2.9× the median ($9,650)
- New England median 2.7× the median ($10,182)
- U.S. median 3.8× the median ($7,288)
Instructional metrics from College Scorecard. Peer medians are campus-level; see the institutional financials deep dive. Detailed non-instructional staff counts are not included here.
Colby College at a glance
Colby College
Colby College is a private non-profit institution in Waterville, ME, classified as Baccalaureate Colleges: Diverse Fields.
- Largest programs (IPEDS awards)
- Econometrics and Quantitative EconomicsPsychology, GeneralPolitical Science and Government, General
- Largest enrollment groups
- White or Caucasian54.9%Non-Resident Alien11.2%Asian10.2%
Schools near Colby College
Other campuses in Waterville, ME when available, plus nearby institutions in Maine.
Similar schools
Peers matched by the same EDsmart outcomes grade (Grade A) within Maine, then by similar ownership and admissions.
Frequently Asked Questions
Where is Colby College located?
Colby College is located in Waterville, ME.
What is Colby College's acceptance rate?
The acceptance rate at Colby College is 7.1% among first-time degree-seeking students reporting admissions data. IPEDS reports 17,786 applicants and 1,215 admits in the latest admissions cycle in our extract.
What is Colby College's tuition?
Colby College tuition (published undergraduate sticker price) is $69,600 in the latest College Scorecard data. Average net price after grant aid is $17,180 for undergraduates receiving Title IV aid.
How much does Colby College cost?
Reported tuition is $69,600 and average net price is $17,180 in the latest College Scorecard data. On-campus room and board is estimated at $17,890 annually.
Why is Colby College's net price so much lower than tuition?
At Colby College, published tuition is $69,600 while average net price is $17,180—about 75% lower. Average net price subtracts grant and scholarship aid from cost of attendance for undergraduates receiving Title IV aid (College Scorecard). Institutional aid therefore compresses sticker price into a lower typical undergraduate cost signal. The campus average still masks large differences by household income; income-band net prices can diverge sharply from the overall average. EDsmart Data treats the sticker–net gap as an analytical finding, not advice about individual aid offers.
What explains Colby College's return on investment in EDsmart Data?
EDsmart Data models ROI using campus average net price ($17,180), completion (88.8% within 150% of normal time where reported), and median earnings ten years after entry ($80,490). High completion and strong mid-career earnings relative to net cost raise modeled ROI; the estimate is institution-wide and not program-specific. Debt-to-earnings ratios, when available, further contextualize borrowing pressure. Limitations include suppressed fields, program mix, and labor-market variation over time.
Why is Colby College's acceptance rate so low?
The acceptance rate at Colby College is 7.1% among first-time degree-seeking applicants reporting admissions data. Very low rates usually reflect extraordinary applicant volume relative to class size—not a single test-score cutoff. When IPEDS reports applicants and admits, those counts show how selective the funnel is. Acceptance rate describes competition for seats; it does not measure outcomes for enrolled students. Yield (share of admits who enroll) further clarifies demand among those offered admission when available.
What is the student body demographics at Colby College?
Colby College reports undergraduate enrollment of about 2,553 students, White (54.9%), Non-Resident Alien (11.2%) in federal College Scorecard data.
How many first-generation students attend Colby College?
About 10.9% of students at Colby College are first-generation college students.
What test scores do students need for Colby College?
Among enrolled students who submitted scores, Colby College reports midpoint SAT about 1501 and midpoint ACT about 33.
What do graduates of Colby College earn?
Median earnings are $60,052 six years after entry and $80,490 ten years after entry.
What is the graduation rate at Colby College?
The 150%-time completion rate is 88.8% for the cohort reported to the College Scorecard.
Data Sources
This page uses data from the following sources:
- College Scorecard - U.S. Department of Education
- Institutional characteristics, costs, completion rates, and earnings data
- Data years: 2015-2024
- Source: collegescorecard.ed.gov
- Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS)
- Employment and wage data by occupation
- Latest data: May 2024
- Source: bls.gov/oes
- O*NET Online - U.S. Department of Labor
- Occupational skills, knowledge, abilities, and work activities
- Database version: 28.0 (August 2023)
- Source: onetcenter.org
- IPEDS (Integrated Postsecondary Education Data System) - National Center for Education Statistics
- Institutional data, completions, enrollment, and financial aid
- Data years: 2015-2024
- Source: nces.ed.gov/ipeds
- Census Bureau American Community Survey (ACS)
- Demographic and workforce data
- Latest data: 2023 ACS 5-Year Estimates
- Source: census.gov/acs
- Related geography & profiles
Data Processing: All data has been processed, cleaned, and aggregated for presentation. Where specific data points are unavailable, estimates are based on available data and clearly marked.
Last Updated: Data reflects the most recent available information as of January 2025.
Methodology & Data Scope
This profile uses institution-level fields from the U.S. Department of Education College Scorecard, merged with IPEDS directory attributes where needed for locale, ownership, and program completions.
Benchmark rows compare this campus to NCES locale-type medians (for example Suburban) from our processed location extract. Implied U.S. medians are derived from locale-vs-national percentage fields in that extract—not a separate national Scorecard table.