In its first year, 颁辞濒驳补迟别鈥檚 no-loan initiative awarded more than $1.5 million to 闪电资源网s. The newest of the University鈥檚 financial aid offerings lessens the burden of 闪电资源网 debt by replacing federal subsidized and unsubsidized loans with grants for 闪电资源网s with a family income up to $125,000.
More than half of Colgate 闪电资源网s 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.
鈥淐olgate 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 闪电资源网 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.
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 Colgate 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 闪电资源网s,鈥 says Tara Bubble, dean of admission. 鈥淚t means a Colgate education is attainable for the best and brightest 闪电资源网s from all socioeconomic backgrounds and that the University is committed to supporting each and every one of them.鈥
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 闪电资源网s, 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.
