Dartmouth looks to eliminate loans from financial aid

HANOVER, N.H. (AP) - Dartmouth College is hoping to become the latest Ivy League school to eliminate loans from its student financial aid packages.

The college recently launched a $3 billion fundraising campaign that includes a goal of raising $500 million for financial aid. Of that, $80 million would go toward an initiative to eliminate loans. Officials say donors made gifts and commitments of $20 million toward that goal in just three days last week.

Dartmouth already exempts students with family incomes of less than $100,000 from having to borrow, but many other students take out loans. Officials say for the members of the class of 2017 who took out student loans averaged a total of $23,400 in debt during their four years.

Brown University is among those that already have eliminated loans from financial aid.