Dartmouth Updates Financial Aid Package

In an attempt to keep up with the other Ivy League schools, Dartmouth announced significant changes to its financial aid package. Details from the College’s press release:

No Tuition for Families Who Earn less than $75,000
Beginning with the 2008-09 academic year, all students from families with incomes of $75,000 or less will receive free tuition. In addition, many will also receive scholarships for associated costs of attendance, i.e. room, board, books and miscellaneous expenses.

Loans Replaced with Scholarships
The College will eliminate loans for incoming scholarship recipients beginning with next year’s Class of 2012. Over the course of four years of enrollment, students will see loans that totaled as much as $17,500 replaced with scholarships. Currently enrolled students will see their loan expectation cut by 50 percent beginning next fall for each of their remaining years at the College. The elimination of loans will significantly reduce the debt burden of Dartmouth graduates.

Need-blind admissions for International Students
Starting immediately with the Class of 2012, the College will extend its need-blind admissions policy to all international students. Previously the College was need-blind for students from the U.S. as well as those from Canada and Mexico and provided financial aid to other international students up to a preset budget maximum. This cap will now be lifted and Dartmouth will join a very small group of schools that have a fully need-blind admissions process for international students.

Leave Term Earnings Expectation
Starting immediately, Dartmouth will provide an additional scholarship of $2,950 to allow financial aid recipients to take advantage of research or internship opportunities in their junior year. Currently, these students are expected to contribute earnings from their summer employment towards the cost of their education and thus have less flexibility than non-financial aid students in participating in important components of the Dartmouth experience. Students will be able to participate in community service, other forms of volunteer activities, or spend the time on their own research or studying for graduate school entrance exams. This aspect of the new plan builds on Dartmouth’s year-round calendar and strong tradition of service and experiential learning opportunities.