Dartmouth will eliminate student loan requirements in financial aid programs for undergraduates
Dartmouth removes all federal and institutional loan requirements from its undergraduate financial aid scholarships, replacing them with expanded scholarships instead, the school the president announced Monday. The school said in a statement that the new policy will bring financial relief to middle-class families.
“Thanks to this extraordinary investment from our community, students can prepare for lives of impact with fewer constraints,” said Dartmouth President Philip Hanlon.
To help fund the expanded scholarships, more than $80 million has been donated to the school’s endowment by more than 65 families, the school said.
Dartmouth previously eliminated the loan requirement for undergraduates from families with annual incomes of $125,000 or less. Now, the offer will also be extended to families earning more than $125,000 who receive need-based assistance.
“These new policies reinforce this deep and enduring commitment to full and equal access to an education in Dartmouth,” said Vice Provost Lee Coffin. “Expanding scholarships by removing loans from all aid programs further levels the playing field as we invite students from all socio-economic backgrounds to join the Dartmouth community.”
The change will take effect this week when the 2022 summer term begins.