Dartmouth Eliminates Student Loans for Undergraduates

Giving to financial aid through The Call to Lead campaign has deepened Dartmouth’s commitment to make a college education accessible and affordable for the most promising and talented students from around the world and from all economic backgrounds.

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

Two recent gifts capped the push to eliminate student debt through the campaign. In May, Anne Kubik ’87, a member of the Presidential Commission on Financial Aid and one of the first supporters of the initiative, added $10 million to an earlier commitment to bring the effort closer to reality. An anonymous donor then committed $25 million to complete the campaign, establishing one of the largest scholarship endowments in Dartmouth history.

“Our gratitude for these extraordinary acts of generosity knows no bounds,” says President Hanlon.

“Both donors shared with me their excitement about making certain more applicants can pursue a Dartmouth education without concerns about their financial means.”

– President Philip J. Hanlon ’77

Currently, Dartmouth undergraduates from families with annual income of $125,000 or less who possess typical assets are offered need-based aid without a required loan component. Dartmouth is now removing the loan requirement for undergraduates from families with annual income of more than $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. This in turn will open opportunities for young graduates to consider career opportunities or advanced degrees that they might not otherwise have been able to pursue.

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

“This gift honors the Dartmouth tradition of service,” says Kubik.

“Over the years, I’ve been fortunate to serve beside alumni who dedicate hundreds of hours to strengthen Dartmouth for future students. The presidential commission has embodied the best of this alumni altruism. Dartmouth is more welcoming than ever because of it.”

– Anne Kubik ’87

Successful applicants in the Class of 2027 will be the first undergraduates to matriculate with the benefit of this landmark investment in Dartmouth’s endowment.

During the past week, members of the Dartmouth community rallied to pledge another $5 million to eliminate required loans in financial aid awards for all current AB students, many of whom had their college experience disrupted by the global. President Hanlon thanked several families for their commitment to extend the no-loan policy to current students: Dana Banga and Angad Banga ’06; Leslie Davis Dahl ’85 and Robert Dahl; Katherine Dunleavy and Keith Dunleavy ’91; Karen Frank and James Frank ’65 (honoring Peggy Epstein Tanner ’79); Julie McColl-McKenna ’89 and David McKenna ’89; Hadley Mullin ’96 and Daniel Kalafatas ’96; Robin Bryson Reynolds ’91 and Jake Reynolds ’90; and Victoria Ershova and Mike Triplett ’96.

“Dartmouth’s commitment to meeting 100% of demonstrated need for all students is longstanding and a point of pride,” says Lee Coffin, vice provost for enrollment and dean of admissions and financial aid. “These new policies enhance that deep and enduring commitment to full and equal access to a Dartmouth education. 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.”

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