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Dartmouth College eliminates undergraduate student loans and replaces them with scholarship grants
CNN(CNN)Dartmouth College announced Tuesday it was eliminating student loans for undergraduates and replacing them with "expanded scholarship grants," the university said in a news release.
The initiative is part of the Ivy League school's "The Call to Lead" leadership campaign, and will begin starting June 23 for the summer 2022 term, the release said. The announcement also means Dartmouth's class of 2022 will be the first class to enter the school and benefit from this program, the release said.
"Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints," Dartmouth President Philip J. Hanlon said in a statement.
Dartmouth's announcement comes amid the ongoing debate about student loan debt in the US, where 43 million people are waiting to find out if President Joe Biden will wipe away all or part of their federal student loan debt. In April, after facing months of pressure from other Democrats to cancel $50,000 per borrower, Biden said he was considering some broad student loan forgiveness, though a smaller amount.
The initiative is part of the Ivy League school's "The Call to Lead" leadership campaign, and will begin starting June 23 for the summer 2022 term, the release said. The announcement also means Dartmouth's class of 2022 will be the first class to enter the school and benefit from this program, the release said.
"Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints," Dartmouth President Philip J. Hanlon said in a statement.
Dartmouth's announcement comes amid the ongoing debate about student loan debt in the US, where 43 million people are waiting to find out if President Joe Biden will wipe away all or part of their federal student loan debt. In April, after facing months of pressure from other Democrats to cancel $50,000 per borrower, Biden said he was considering some broad student loan forgiveness, though a smaller amount.