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All ������ students from families with annual income levels up to $175,000 will have federal loans replaced with University grants as part of the ������ 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 ������’s efforts to reduce the financial burden on students with financial need.  

The ������ Commitment first launched in 2020, and is an essential piece of the University’s Third-Century Plan. Its expansion reflects ������’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 ������’s efforts to recruit the most talented students,” said ������ President Brian W. Casey.

This is the second expansion of the ������ 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 ������ Commitment, students from families with incomes below $80,000 will attend ������ tuition free. ������ 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, ������ has added several million dollars in new student support, resulting in a total annual financial aid budget of $76 million. These additional investments in ������ students have been made possible by the remarkable support of ������ alumni, parents, and friends as well as through direct investments made by the University within ������’s operating budget.