Dartmouth College is currently removing all institutional and federal lands from its undergraduate financial aid awards. The loans are replaced with expanded grants of scholarship. On 23 June, at the start of Dartmouth’s summer term, the historical change will take place.
A need-based aid without a loan component is offered to Dartmouth undergraduates with families with an annual income of $125,000 or less. There will be no loan requirements for families of undergraduates with earnings of more than $125,000. Such an initiative will decrease the debt burden for hundreds of middle-aged income Dartmouth students and their families.
The campaign's goals are to remove all loan requirements from Dartmouth undergraduate financial aid awards supported by more than 65 families. According to a report from the Dartmouth newspaper, Dartmouth is getting joined by Harvard University, Ivy League peers Brown University, Yale University, Columbia University, the University of Pennsylvania in adopting the no-loan policy.