“Thanks to this extraordinary investment from our community, students can prepare for lives of impact with fewer constraints,” Dartmouth President Philip J. Hanlon said in a statement.
Dartmouth previously eliminated the loan requirement for undergraduate students from families with annual incomes of $125,000 or less. This will now be extended to families earning more than $125,000 or less who receive need-based assistance, according to the release.
The transition to a “loan-free financial policy” will benefit students from middle-income families, the statement said. The initiative is “the culmination of a series of remarkable achievements that have transformed Dartmouth’s financial aid resources and policies over the past year, propelled by more than $120 million in scholarship donations from studies and endowment pledges since September 1,” the statement said.
“More than 65 families have supported the campaign goal of eliminating loan requirements for Dartmouth undergraduate financial aid scholarships, committing more than $80 million in donations to the endowment,” the statement read.
An anonymous donor pledged $25 million to carry out the campaign, which was “one of the largest scholarships in Dartmouth’s history,” the statement said.
“When I think of the exciting and transformational opportunities now available to these students without this financial barrier, I think this is one of the most significant achievements of the campaign,” Dartmouth alumnus Ellie Loughlin said in a statement. communicated.
CNN’s Katie Lobosco and Kevin Liptak contributed to this report.