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http://www.dartmouth.edu/~news/releases/2008/01/22.html
Dartmouth Announces New Financial Aid Initiative
Dartmouth College Office of Public Affairs * Press Release
Posted 01/22/08 * Roland Adams * (603) 646-3661
Dartmouth will eliminate tuition for undergraduates from families with
incomes below $75,000; replace loans with scholarships; extend need-blind
admissions to international students; and create a leave term without earnings
expectations
Dartmouth President James Wright announced today a number of enhancements to
the College's financial aid packages for undergraduates, beginning in academic
year 2008-09, to ensure that Dartmouth remains accessible to academically
talented students regardless of their financial situation. The new initiatives
also extend the College's need-blind admissions program to all international
students, who typically represent about 7 percent of each incoming class. The
Dartmouth Board of Trustees approved the enhanced program at a special board
meeting Jan. 16.
Key elements of the initiative, which will go into effect for the coming
academic year, include:
1. Free tuition for students who come from families with annual incomes
below $75,000
2. Replacing loans with scholarships
3. Need-blind admissions for international students
4. Junior leave term with no earnings expectation
In announcing the initiative, President Wright said, "Dartmouth's enhanced
financial aid program will ensure that all our students are better able to take
full advantage of the Dartmouth experience. The College has long been
committed to helping superbly qualified students attend Dartmouth, regardless
of their financial means, and financial aid has been a personal priority of
mine for many years. Building on our more than three-fold increase in
financial aid since 1998, I am pleased that we could make this further
enhancement to our financial aid program as we seek to keep Dartmouth
affordable and to enroll the most talented students from around the world."
President Wright is a member of the College Board Commission on Access,
Admissions and Success in Higher Education and has worked to enhance the GI
Bill to improve educational opportunities for veterans.
According to U.S. Census data, approximately 90 percent of U.S. households
earn less than $150,000; 70 percent earn less than $75,000; and the median
family income is $46,326. These families have the most financial difficulty
sending their children to college. Dartmouth's new financial aid program will
enable it to continue to enroll one of the most economically diverse group of
students in the Ivy League. Currently, 13 percent of Dartmouth students are the
first in their families to attend college and 14 percent are recipients of Pell
Grants (a federal grant for students who come from low-income families).
Dartmouth is presently need-blind in its undergraduate admissions process
for applicants who are citizens or permanent residents of the U.S., Canada and
Mexico, which means that it reviews student admissions applications without any
knowledge of the prospective student's ability to pay for a Dartmouth
education. Once Dartmouth admits an applicant, the College meets 100 percent of
the student's demonstrated need for all four years through a combination of
grants and loans.
Dartmouth currently spends $61 million per year providing financial aid
compared to $24.5 million in 1998 - an increase of 250 percent. The new
initiative will cost an additional $10 million per year when fully implemented.
The additional expense will be paid for through the reallocation of resources
and the use of funds generated by an increase in the distribution from the
endowment to 6 percent approved by the Trustees last year. The College is in
the midst of the Campaign for the Dartmouth Experience with a goal of $1.3
billion - $150 million of which will be for financial aid. This past December,
the College passed the $1 billion mark in that campaign.
Details of the Initiative
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.
Dartmouth Today
Dartmouth's 4,300 undergraduates are an academically accomplished and
diverse group, representing all 50 states and more than 30 countries around the
world. Students of color and international students comprise 30 percent and 7
percent, respectively, of the student body. Nearly 48 percent of undergraduates
today receive need-based financial aid from Dartmouth, with an average
scholarship of $30,400 for members of the Class of 2011.
Dartmouth is recognized for its excellence in undergraduate education. In
keeping with its founding mission, the intellectual quality and the diversity
of the students the College admits are of paramount importance as Dartmouth
seeks to create an enriching and varied educational experience for all members
of the community. It is an historic assumption at Dartmouth that student
engagement with a diverse group of peers, drawn from a broad range of racial
and ethnic backgrounds, nationalities, socioeconomic circumstances, talents,
experiences, and perspectives, contributes significantly to the transformative
nature of a Dartmouth education.
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