Wondering how Dartmouth's No Loan Initiative will apply to you?
What does the No-Loan policy mean?
Beginning with the 2022-23 academic year, Dartmouth will no longer include loans as part of the original aid award created to meet a student's demonstrated need. This applies to all AB Undergraduate students, regardless of income, or citizenship. Additional scholarship funds will replace these loans in all aid packages.
Who will be impacted by this policy change?
Prior to this policy change, families with total incomes above $125,000 may have had a student loan included in their award to help meet their demonstrated need. This population of students will no longer be packaged with a student loan, and their full demonstrated need will be met with employment eligibility and scholarship assistance.
Will I receive an updated award letter?
Yes – if you have already received your award letter for the 2022-23 year and it includes a loan to help meet your demonstrated need, you will receive an updated award letter to reflect that the loan has been removed and replaced with additional scholarship funds. The Financial Aid Office will be updating and releasing awards over the coming weeks. Please allow us time to process these adjustments.
Applications for the 2022-23 year are still being processed. If you have not yet received your award, when your award is complete, it will automatically be packaged according to the no-loan policy.
If you have requested a loan to replace all or some of your EFC, work expectation, health insurance, or computer, this loan will remain in place.
Who is eligible for no-loan financial aid packages?
All AB Undergraduate students receiving need-based scholarship aid.
Does this program apply to international students?
Yes— this applies to all AB Undergraduate students, regardless of citizenship.
Does this apply to students who entered Dartmouth as transfer students?
Yes—all AB Undergraduate students will be eligible for this benefit.
Does this apply to graduate students at Dartmouth?
No. This policy change applies only to Dartmouth AB Undergraduates.
Can I still request a student loan to help cover my costs?
Yes. Even though we will not automatically include a loan in your package, you may still use student loans to reduce your costs. This may include reducing or replacing your work expectation, student contribution, or parent contribution, or covering the cost the Dartmouth Student Group Health Plan or a computer. Visit our Student Loans webpage to learn more about the available loan options.
I don't qualify for Dartmouth Scholarship aid but was awarded a loan. Will this be replaced with scholarship?
No. The no-loan policy applies only to scholarship recipients, who also have had a loan awarded to them to help meet their demonstrated need.
I am a Dartmouth Scholarship recipient and my original award did not include a loan. I did request a loan to reduce my expected family contribution, or work expectation. Will my loan be replaced with scholarship?
No. Only loans that were packaged in the original award to meet part of your demonstrated need will be replaced with scholarship funding. Loans that have been added at your request to replace your EFC or work expectation will not be replaced with scholarship funding.
I am a Dartmouth Scholarship recipient and my original award did not include a loan. How will this new policy impact my financial aid?
Your financial aid will not be impacted. Like most students, you were already receiving a "no-loan" package. This change applies only to students who previously did not qualify for a "no-loan" package.
I am a Dartmouth Scholarship recipient and my original award did include a loan to help meet my demonsrated need. How will this new policy impact my financial aid?
Your demonsrated need will now be met fully with a combination of scholarship and/or grant, and student employment. The loan will be eliminated from your award and replaced with scholarship funds.
Will the loan offered for the health plan be eliminated?
The Dartmouth Student Group Health Plan (DSGHP) is an auxiliary cost that is not part of a student's demonsrated need. Dartmouth will continue to provide scholarship assistance toward the health plan cost for students who receive Dartmouth scholarship aid. Students may still choose to use a student loan to cover any remaining cost of the health plan. This loan will not be replaced with scholarship funding.
Will the loan offered to purchase a computer be eliminated?
Incoming first year and transfer students may request a loan to assist with the cost of purchasing a computer. The cost of a computer is an auxiliary cost that is not part of a student's demonsrated need. This loan will not be replaced with scholarship funding.
Will loans borrowed during previous school years be forgiven?
This policy is effective beginning with the 2022-23 academic year. Loans taken in prior academic years will remain unchanged.