The initiative is part of the Ivy League school’s “The Call to Lead” leadership campaign, and will begin starting June 23 for the summer 2022 term, the release said. The announcement also means Dartmouth’s class of 2022 will be the first class to enter the school and benefit from this program, the release said.
“Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints,” Dartmouth President Philip J. Hanlon said in a statement.
Dartmouth’s announcement comes amid the ongoing debate about student loan debt in the US, where 43 million people are waiting to find out if President Joe Biden will wipe away all or part of their federal student loan debt. In April, after facing months of pressure from other Democrats to cancel $50,000 per borrower, Biden said he was considering some broad student loan forgiveness, though a smaller amount.
Dartmouth previously eliminated the loan requirement for undergrads from families with an annual income of $125,000 or less. That will now be extended to families making more than $125,000 or less who receive need-based aid, the release said.
The transition to a “no loan financial policy” will benefit students from middle-income families, the release said. The initiative is “the culmination of a remarkable series of achievements that have transformed Dartmouth’s financial aid resources and policies over the past year, propelled by more than $120 million in scholarship gifts and pledges to the endowment since September 1,” the release said.
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