Dartmouth is eliminating loans from its financial aid packages

The Ivy League school estimates the move will eliminate up to $5,500 in debt per student each year.

Dartmouth College, an Ivy League university in New Hampshire, said Monday it will no longer offer loans in its financial aid packages for undergrad students, and instead, replace them with more grants.

The policy will take effect June 23, so students entering the summer 2022 semester will be the first beneficiaries.

“Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints,” Dartmouth College President Philip Hanlon said. “Eliminating loans from financial aid packages will allow Dartmouth undergraduates to seek their purpose and passion in the broadest possible range of career possibilities.”

Dartmouth currently has a policy that doesn’t require loans for students whose household income is less than $125,000, but it will now extend to students whose household income is greater than $125,000 and receive need-based financial aid.

Read more from NPR


Most Popular