Dartmouth to eliminate student loan requirements in financial aid packages for undergraduate students

Dartmouth is removing all federal and institutional loan requirements from its undergraduate financial aid awards, replacing them with expanded scholarship grants instead, the school's president announced Monday. The school said in a statement that the new policy will provide financial relief to middle-class families.

"Thanks to this extraordinary investment by our community, students can prepare for lives of impact with fewer constraints," Dartmouth President Philip Hanlon said.

To help finance the expanded scholarships, over $80 million was donated to the school's endowment by upwards of 65 families, the school said.