Dartmouth College is removing all federal and institutional loans from its bachelor’s degree financial aid awards and replacing them with extended scholarships, starting this current summer term, the school’s president said.
Currently, Dartmouth students from families with annual incomes of $ 125,000 or less who own typical assets receive needs-based assistance without the required loan component.
Dartmouth is now removing the loan requirement for students from families with an annual income of more than $ 125,000 who receive need-based financial aid. That will reduce the debt burden for hundreds of middle-income Dartmouth students and their families by an average of $ 22,000 in four years, the school said in a statement Monday.
A fundraising effort launched in 2018 called The Call to Lead has deepened Dartmouth’s commitment to making university education accessible and accessible to the most promising and talented students around the world and of all economic backgrounds, the president said. Philip Hanlan.
Dartmouth College will replace loans with extended scholarships. Bloomberg via Getty Images
More than 65 families have backed the campaign’s goal to eliminate loan requirements from Dartmouth’s bachelor’s degree awards by donating more than $ 80 million to the foundation.
Dartmouth is joining its colleagues at Brown University, Columbia University, Harvard University, the University of Pennsylvania and Yale University in adopting loan-free policies, according to The Dartmouth.
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