Dartmouth College says it has seen a surge in current and accepted students asking for more financial aid amid the COVID-19 pandemic.
The college says it’s anticipating an increase in financial aid of $8 to $10 million more for next school year.
Dartmouth is trying to raise more money to maintain its need-blind admissions, and it’s creating a $20 million scholarship fund to meet the increased financial aid demand of the next two years.
Phil Hanlon, Dartmouth’s president, has laid out a plan to expand the family income threshold for a full-tuition scholarship to $125,000 and says that the college remains committed to meeting the full demonstrated need of all students regardless of citizenship status.
The college is also taking a series of steps to reduce its costs – and expects operating losses of up to $100 million by the end of June.
So far, Dartmouth has implemented a hiring freeze through the end of the year and canceled salary increases through next fiscal year.