Home Latest News Dartmouth cuts loans for undergraduate students

Dartmouth cuts loans for undergraduate students

Dartmouth College is canceling all federal and institutional loans from its undergraduate financial aid and replacing them with extended college grants starting with the current summer term, the school’s president said.

Currently, Dartmouth students from families with annual incomes of $125,000 or less who have typical assets are offered needs-based assistance without a required loan component.

Dartmouth is now waiving the loan requirement for students from families with annual incomes over $125,000 who receive need-based financial aid. This will reduce the debt burden for hundreds of middle-income Dartmouth students and their families by an average of $22,000 over four years, the school said in a press release Monday.

A fundraiser that began in 2018 called The Call to Lead has cemented Dartmouth’s commitment to making college education accessible and affordable to the most promising and talented students from around the world and from all economic backgrounds, said President Philip Hanlon.

Dartmouth College
Dartmouth College will replace the loans with comprehensive scholarships.
Bloomberg via Getty Images

More than 65 families supported the campaign goal of eliminating loan requirements from Dartmouth’s undergraduate financial aid awards, allocating more than $80 million in gifts to the endowment.

Dartmouth joins Ivy League colleagues Brown University, Columbia University, Harvard University, University of Pennsylvania and Yale University in adopting no-loan policies, The Dartmouth newspaper reported.

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