Student Loans for Dartmouth Students
A member of the Ivy League, Dartmouth is one of the oldest and most prestigious institutions in the country. Founded in 1769 and located in the picturesque small town of Hanover, New Hampshire, Dartmouth is home to about 4,200 undergraduates and an extremely vibrant academic tradition. You most likely know that it’s a great school, so we won’t keep harping on its high academic ranking instead, we’ll talk about its extraordinarily high sticker price and the financial aid program that helps students afford a Dartmouth education.
Tuition, fees, room and board, and all of the other costs that get baked into the total cost of attendance at a college total over $59,000 per year at Dartmouth. That, you might say, is crazy. Fortunately, few students and families actually wind up paying that total figure each year, as Dartmouth has a strong financial aid program. Much like other Ivy League institutions, Dartmouth has adopted a program that sets an income threshold for students and families. What does that mean? If a student’s family has a net come of under $100,000 per year, that student will receive a financial aid package consisting of a grant or scholarship covering their entire cost of tuition, and will not need to take out a loan. For students and families above this income threshold who qualify for aid, 86% of the average aid package comes in the form of scholarships/grants, with the remaining 14% coming in the form of loans.
The Dartmouth financial aid office requires a few forms from applicants for financial aid. Much like at any university, the Free Application for Federal Student Aid (FAFSA) is required. In addition to the FAFSA, the CSS/Profile, a form that is used by many private institutions to provide a more detailed picture of an applicant’s financial standing, is required. There are several other forms that the Dartmouth financial aid office requires from applicants if they have certain unique financial circumstances; for these, check out the Dartmouth financial aid office’s website.
Student Loans: Another Option
26% of students at Dartmouth have federal student loans, and 17% of students have private student loans. What does that mean? Well, though the aid program at Dartmouth is really robust, it doesn’t always cover the complete financial needs of every student receiving funds. If you’re in a position where you need additional funding to supplement your aid package from Dartmouth, you should first follow the 26% and pursue federal student aid. Federal student loans are easily secured, and have much lower interest rates and more favorable borrowing terms than private student loans. If for some reason you exhaust your federal aid options and still need funding for your Dartmouth education, you should consider private student loans. Choosing a private student loan can be tricky, as you want to find the lowest-cost, best loan for you — and you can do this right on our site. We have a Student Loan Comparison Tool that lets you search for and compare student loans based on a variety of characteristics; once you find the loan that seems best for you, you can apply for it directly. If you need additional funding for Dartmouth, check it out today.
Yes, Dartmouth offers a number of payment options in order to help its students better afford the cost of tuition. The options available are Tuition Prepayment, The Dartmouth Monthly Payment Plan and Educational Loan Options. The Tuition Prepayment option allows students to pay their tuition dues in advance at a rate that’s locked in when they are admitted. However, this option only freezes the tuition rates. Other expenses such as room & board will still be subject to increases. The Dartmouth Monthly Payment Plan provides parents and students with an opportunity to pay for a single academic year in ten interest-free installments. The Educational Loan Options allow students and their parents to spread their payments over a number of years. The repayment terms for this option depends on the lender.
What should I include in my COA estimate when applying for Dartmouth College financial aid?
Having a COA (Cost of Attendance) estimate can help students immensely when applying for Dartmouth College financial aid. The COA estimate not only gives students an idea about the amount of money they’ll be required to contribute toward their education, it also allows them to better prepare themselves for college. Students are advised to include tuition costs, room & board, books & supplies, miscellaneous fees, transportation and personal expenses in their COA estimate. Students are recommended to subtract room & board costs and subsequently add transportation costs if they plan to live off campus. The current rates for the above mentioned expenses are available on the Dartmouth College financial aid webpage.
How do I apply for financial aid at Dartmouth?
To apply for Dartmouth College financial aid you must first fill out a FAFSA application, which is available online at fafsa.ed.gov. The application is used to collect financial details about the student to help evaluate the need for aid, and also eligibility.
Pay for Dartmouth*
|Total Avg. Cost||$55,386|
|Room & Board||$11,838|
|Financial Aid Information|
|Students Receiving Fin Aid||66%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$3,253|
|%Receiving Other Loans||36%|
Get into Dartmouth
*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics