<p>"Key elements of the initiative, which will go into effect for the coming academic year, include:</p>
<li>Free tuition for students who come from families with annual incomes below $75,000</li>
<li>Replacing loans with scholarships</li>
<li>Need-blind admissions for international students</li>
<li>Junior leave term with no earnings expectation."</li>
</ol>
<p>What I am guessing is for families that are making $75k or less, if their EFC is greater than the cost of room and board, they will probably have to pay room and board out of pocket as the tuition will be free (this is still not a bad deal for middle class families).</p>
<p>As a great admirer of Dartmouth, I'm really impressed with this new finaid policy. It really shouldn't be surprising though since the day before they announced that they had hit 1,000,000,000 dollars in alumni contributions. (wow thats a lot of zeros)</p>