In its sixth season under head coach Frederick Dunlap, the team compiled a 7–3 record.
Karl Grabowski and Tom McChesney were the team captains.
[1] This would be Colgate's final season in the NCAA's top level of competition.
Shortly after the season ended, the NCAA reassigned the Red Raiders, along with the Ivy League and several other football teams, to Division I-AA,[2] now known as the Football Championship Subdivision.
The team played its home games at Andy Kerr Stadium in Hamilton, New York.