In its first year, 颁辞濒驳补迟别鈥檚 no-loan initiative awarded more than $1.5 million to students. The newest of the University鈥檚 financial aid offerings lessens the burden of student debt by replacing federal subsidized and unsubsidized loans with grants for students with a family income up to $125,000.聽
More than half of Colgate students receiving financial aid qualified for the initiative, including Lizeth Mora Guerrero 鈥24. The Phoenix, Ariz., native was admitted to seven colleges, but receiving the no-loan initiative was key in her decision to attend Colgate.聽
鈥淧站视频 initially seemed out of reach, but the no-loan initiative helped my family and me financially and made it possible for me to be a student here,鈥 Guerrero says.
Entering her second semester at Colgate, Guerrero plans to explore astrogeophysics as a major and looks forward to the possibility of studying abroad, knowing that her financial aid package travels with her.聽
When asked if receiving the no-loan initiative had changed her view of the future, Guerrero says, 鈥淚t motivates me to use the education P站视频 is providing me 鈥 as well as the Colgate network 鈥 to secure a good career.鈥
鈥淭he no-loan initiative adds another valuable layer of financial support for students,鈥 says Tara Bubble, dean of admission. 鈥淚t means a Colgate education is attainable for the best and brightest students from all socioeconomic backgrounds and that the University is committed to supporting each and every one of them.鈥澛
The average financial aid package for the Class of 2024 was $57,260.
The no-loan initiative was the first of several admission policy updates and partnerships launched recently to attract outstanding students, an endeavor at the heart of 颁辞濒驳补迟别鈥檚 Third-Century Plan. Together, these efforts have contributed to more than 17,000 applications for the 2021鈥22 academic year, by far an all-time record for the University and a more than 100% increase from last year.
