In its first year, °ä´Ç±ô²µ²¹³Ù±ð’s no-loan initiative awarded more than $1.5 million to students. The newest of the University’s financial aid offerings lessens the burden of student debt by replacing federal subsidized and unsubsidized loans with grants for students with a family income up to $125,000.
More than half of Ä¢¹½tv students receiving financial aid qualified for the initiative, including Lizeth Mora Guerrero ’24. The Phoenix, Ariz., native was admitted to seven colleges, but receiving the no-loan initiative was key in her decision to attend Ä¢¹½tv.
“Ģ¹½tv initially seemed out of reach, but the no-loan initiative helped my family and me financially and made it possible for me to be a student here,†Guerrero says.
Entering her second semester at Ä¢¹½tv, Guerrero plans to explore astrogeophysics as a major and looks forward to the possibility of studying abroad, knowing that her financial aid package travels with her.
When asked if receiving the no-loan initiative had changed her view of the future, Guerrero says, “It motivates me to use the education Ä¢¹½tv is providing me — as well as the Ä¢¹½tv network — to secure a good career.â€
“The no-loan initiative adds another valuable layer of financial support for students,†says Tara Bubble, dean of admission. “It means a Ä¢¹½tv education is attainable for the best and brightest students from all socioeconomic backgrounds and that the University is committed to supporting each and every one of them.â€
The average financial aid package for the Class of 2024 was $57,260.
The no-loan initiative was the first of several admission policy updates and partnerships launched recently to attract outstanding students, an endeavor at the heart of °ä´Ç±ô²µ²¹³Ù±ð’s Third-Century Plan. Together, these efforts have contributed to more than 17,000 applications for the 2021–22 academic year, by far an all-time record for the University and a more than 100% increase from last year.
