I want to share this recent email from President Casey.
Dear Members of the Colgate Community,
I write today to announce the launching of a new, significant Colgate financial aid program, which we are calling the Colgate Commitment: An Initiative in Access and Affordability.
This new initiative has three pillars:
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Students coming from families with annual income of $80,000 or less will not pay tuition to attend Colgate.
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Families with annual income levels between $80,000 and $125,000 will, on average, now pay just 5% of their income toward tuition. Families with annual income levels between $125,000 and $150,000 will, on average, pay 10% of their income toward tuition. (All levels of the Colgate Commitment assume typical asset levels for those incomes.)
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Finally, student financial aid packages will no longer have federal loans for those coming from families with annual income of $150,000 or less.
Funding of more than $1 million for the Colgate Commitment has been provided by generous members of the Alumni Council and Presidents’ Club Membership Council, through the Colgate Fund. I want to thank these alumni volunteers for these gifts, which have allowed us to announce this new initiative right away. The University will seek an additional $25 million in gifts to the endowment during the next three years to fund this program in perpetuity.
This move, advancing both The Third-Century Plan and its Plan for Diversity, Equity, and Inclusion, puts Colgate in a small group of universities — including Brown, Duke, Harvard, and Stanford — that publicly pledge to be tuition free for their lowest-income students.
Please visit the website for more information on the Colgate Commitment.
Again, I offer my profound gratitude to everyone who has made this moment possible.
Sincerely,
Brian W. Casey
President