All دمأغس°تس students from families with annual income levels up to $175,000 will have federal loans replaced with University grants as part of the دمأغس°تس Commitment, beginning in the 2023–2024 academic year — an expansion from the current income threshold of $150,000.
In addition, students on financial aid will have their aid packages expanded to meet the average cost for textbooks and other academic expenses as part of دمأغس°تس’s efforts to reduce the financial burden on students with financial need.
The دمأغس°تس Commitment first launched in 2020, and is an essential piece of the University’s Third-Century Plan. Its expansion reflects دمأغس°تس’s continued pursuit of the robust future that the plan sets forth.
“This is the next phase of the University’s long-term initiative to increase student access and affordability, supporting دمأغس°تس’s efforts to recruit the most talented students,†said دمأغس°تس President Brian W. Casey.
This is the second expansion of the دمأغس°تس Commitment. When it first launched, the income threshold for families was $125,000. That was increased a year later in 2021 to $150,000.
As a continuing part of the دمأغس°تس Commitment, students from families with incomes below $80,000 will attend دمأغس°تس tuition free. دمأغس°تس will continue to cap tuition costs at 5 percent of income for families with incomes between $80,000 and $125,000, and cap tuition costs at 10 percent for families with incomes between $125,000 and $150,000. Further, the University reaffirms its longstanding tradition of meeting 100 percent of all students’ demonstrated financial need.
In total, since the launch of this Third-Century initiative, دمأغس°تس has added several million dollars in new student support, resulting in a total annual financial aid budget of $76 million. These additional investments in دمأغس°تس students have been made possible by the remarkable support of دمأغس°تس alumni, parents, and friends as well as through direct investments made by the University within دمأغس°تس’s operating budget.