HANOVER, NH (AP) — Dartmouth College is removing all federal and institutional loans from its undergraduate financial aid scholarships and replacing them with expanded scholarships, beginning with the current summer term, said the school president.
Currently, Dartmouth undergraduates from families with an annual income of $125,000 or less who have typical assets are offered need-based aid with no loan component required.
Dartmouth now waives the loan requirement for undergraduate students from families with annual incomes over $125,000 who receive need-based financial aid. This will reduce the debt burden of hundreds of average income from Dartmouth and their families on an average of $ 22,000 over four years, the school said in a press release on Monday.
A fundraising effort that began in 2018 called The Call to Diader has deepened Dartmouth’s commitment to making a college education accessible and affordable for the most promising and talented students from around the world and from all economic backgrounds. , said Chairman Philip Hanlon.
More than 65 families have supported the campaign’s goal of eliminating loan requirements from Dartmouth’s undergraduate financial aid scholarships, committing more than $80 million in donations to the endowment.
Dartmouth joins his peers from Ivy League Brown University, Columbia University, Harvard University, University of Pennsylvania and Yale University to adopt non-preparation policies, reported the Dartmouth newspaper.
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