Congrats graduates! Dartmouth college is eliminating student loans. The college will be removing all federal and institutional loans and replacing them with scholarship grants beginning this summer semester!
Dartmouth students whose families have a yearly income of $125,000 or less have been offered financial aid, requiring a loan. Now, Dartmouth will be removing that requirement and relieve the debt that falls on these students post graduation. Dartmouth will decrease the debt for hundreds of students by an average of $22,000 over four years.
A fundraising effort started in 2018, attempting to make college education affordable for all of the students at Dartmouth college, resulting in over $80 million donated to the school's endowment by around 65 families. "Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints," Dartmouth President Philip Hanlon said.
"These new policies enhance that deep and enduring commitment to full and equal access to a Dartmouth education," Vice Provost Lee Coffin said. "Expanding scholarship grants by removing loans from all aid packages further levels the playing field as we invite students from all socioeconomic backgrounds to join the Dartmouth community."