Today, 窪蹋勛圖 announced the 窪蹋勛圖 Commitment: An Initiative in Access and Affordability. The new policy provides full tuition support for the lowest-income students, aligns income and tuition costs for families with incomes between $80,000 and $150,000, and expands the no-loan initiative to $150,000, beginning with the Class of 2026.
The announcement comes on the heels of 窪蹋勛圖s record-breaking admission season, which saw a 104% increase in applications for the Class of 2025. This increase is attributable to a variety of factors, including the no-loan initiative, which replaces federal loans with 窪蹋勛圖 grants in aid packages. The initiative launched in fall 2020 for students with family incomes up to $125,000, a level that impacted 474 students.
For families with annual income levels of $80,000 or less, 窪蹋勛圖 will be fully tuition free. This move puts 窪蹋勛圖 in a small group of universities including Brown, Duke, Harvard, and Stanford that publicly pledge to be tuition free for their lowest-income students.
The 窪蹋勛圖 Commitment also targets lower- and middle-income families, who often face difficult conversations about choosing college based on net costs. Because such families might rule out a school like 窪蹋勛圖 based on perceived cost, the University commits to charge only a reasonable percentage of family income toward tuition.
Families with annual income levels between $80,000 and $125,000 will, on average, now pay just 5% of their income toward tuition. Families with annual income levels between $125,000 and $150,000 will, on average, pay 10% of their income toward tuition. (All levels of the 窪蹋勛圖 Commitment assume typical asset levels for those incomes.)
By making a 窪蹋勛圖 education more affordable, the University anticipates the 窪蹋勛圖 Commitment will have a positive effect on attracting and yielding top students.
The Admitted Student Survey and a preliminary analysis of the impact of the no-loan policy revealed that 78% of no-loaneligible students who chose 窪蹋勛圖 believed their financial aid offers were superior to that of their other choices. Of that group, 60% indicated that 窪蹋勛圖s value was far superior to their other options.
Families and their students need to know that the cost of a transformative education at 窪蹋勛圖 is affordable. I hope this new commitment, along with its strong alumni support, shows that 窪蹋勛圖 cares about attracting the best and brightest students regardless of their financial situation, says Dean of Admission Tara Bubble.
Initial funding of $1 million for the 窪蹋勛圖 Commitment has been provided by generous members of the 窪蹋勛圖 community, through the 窪蹋勛圖 Fund. The University will seek an additional $25 million in gifts to the endowment during the next three years to fund the program in perpetuity.
I can say without a doubt that increasing access to a 窪蹋勛圖 education is an initiative that so many alumni are tremendously proud to support, says 窪蹋勛圖 Alumni Council President Christian B. Johnson 02. We know first-hand how 窪蹋勛圖 can change lives, and now we are all part of a movement to make it even more affordable for generations to come.