Dartmouth College to eliminate student loans for undergraduates, beginning on June 23, 2022.
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Where’ve they been? Most of the Ivy League has been doing this for years.
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Just because they are in the same sports league as some very generous schools doesn’t mean their financial situation is similar. Ivy League schools don’t share their endowments.
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It’s not just about endowment. Williams has 1/2 the endowment of Dartmouth and they’ve been loan free. It’s about commitment to supporting the students you bring to campus.
Williams and Dartmouth announced their loan-free programs to the public media in April 2022 and June 2022, respectively; these are good news.
This upcoming year will also be Williams first with the no loan policy (they have no required work study/self help requirement either). Williams’ endowment per student is greater than Dartmouth’s. It is good news, but really only impacts a very small percentage of students (those with financial need who attend meet full need colleges).
We need more schools to meet full need (not gap students), and the Pell Grant amount to increase, among other things. Too many students can not afford college.
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Has anyone tried the Dartmouth net price calculator before and after the announcement with the same financial parameters to see what the difference in net price is?
https://npc.collegeboard.org/app/dartmouth
Currently, it lists a net price of $3,450 for a student with married parents with $20,000 work income. The $3,450 is made up of an unspecified $1,000 student contribution plus $2,450 student work earnings.