Philanthropy is Essential
How do we keep the delicate balance between the increasing need for financial aid and the funding to provide it? Dartmouth relies on the generous philanthropy provided by Dartmouth alumni, parents, and community members through both endowed funds and annual fund giving.
During the past two decades, Dartmouth has significantly increased the amount of scholarship funding it provides to undergraduates, thanks to the generosity of thousands of alumni, parents, and friends. The average scholarship is now $67,000 per year.
Need help understanding how it all works?
Watch this Dr. Seuss-inspired video about the rhyme and reason behind how Dartmouth uses its funds.
The Two Sources of Financial Aid
Dartmouth’s financial aid program relies on two main sources of funding: endowments and annual fund gifts. Here’s how they work together:
Endowments
Endowments are gifts that are specifically designated by the donor and invested for the long term. Almost all endowment gifts are restricted: They can only legally be used for what the donor has intended, so only a portion of Dartmouth's total current endowment can be used for scholarships. Related: Yearly Endowment Reports
Annual Fund Gifts
This is why Dartmouth also relies so heavily on annual gifts to the Dartmouth College Fund. The DCF is an unrestricted current use fund that must be spent and raised from scratch annually, and can be used for whatever Dartmouth needs most—which is almost always financial aid.
Do these funds really last forever?
Yes. Consider Dartmouth’s oldest endowed fund, the John Phillips 1777H Professorship in Theology Fund, created in 1789 and still going strong. Phillips, a Dartmouth trustee and an honorary member of the Class of 1777, established the fund with a gift of £37, 10 shillings, and various tracts of woodland. Today, with a market value of approximately $700,000, the fund supports a professorship in the Department of Religion. The annual distribution is currently more than $35,000.
1769
Year the endowment was established
$696,581
Current market value of the fund
$35,000
Estimated annual distribution
Everyone Benefits from Financial Aid
Tuition alone meets less than half of the total cost of a Dartmouth education. The total cost of attending Dartmouth—tuition, room, board, and fees—for a Dartmouth undergraduate for 2023–2024 is $84,748. The actual per-student cost to the College, however, is nearly $140,000. So even students who pay full tuition are subsidized by Dartmouth—everyone benefits from financial aid.
Historic Milestones
The PCFA First Year Report included three recommendations: preserve, protect, and defend Dartmouth’s need-blind admissions policy; replace student loans with endowed scholarships; and institute need-blind admissions for all international students.
In May 2020, then-Dartmouth president Phil Hanlon announced the establishment of the Presidential Commission on Financial Aid (the “PCFA”), charged with taking a deep dive into Dartmouth’s undergraduate financial aid programs and developing an in-depth understanding of student and family need.
Dartmouth achieved two historic financial aid milestones in 2022: expanded need-blind admissions to all students, regardless of citizenship; and removed all loans from student financial aid packages, replacing them with education grants. Major gifts from donors made each initiative possible.
Why I Give
I am a product of Dartmouth, financial aid, and the St. Louis alumni community. I want to help others receive the assistance they need to succeed like I did.
Dartmouth Adopts Need-Blind International Admissions
A $90 million investment in our global future.
Empowering Futures through Financial Aid
Dartmouth students join Director of Financial Aid G. Dino Koff to discuss how support for financial aid builds a stronger, more innovative Dartmouth.