Carleton launches $ 50 million financial aid initiative for low-income and undocumented students – news – Carleton College
Carleton College has received a funding commitment of up to $ 50 million from the Schuler Education Foundation as part of a groundbreaking partnership to dramatically increase access to college for low-income and undocumented students.
Over the next 10 years, and subject to Carleton providing an equivalent level of support, the Schuler Education Foundation will fund financial aid to support the enrollment and gradual increase of Pell-eligible students and undocumented students and with the DACA status in college, up to $ 50 million. This initiative builds on Carleton’s existing policy to respond to all demonstrated complete financial need of the student for the four years of college studies. To be eligible for this generous funding, Carleton must raise and receive dollar-for-dollar matching of the total amount expected from the Foundation over the next five years.
“Carleton is thrilled to be part of an initiative that will advance and accelerate our goal of providing better access to a Carleton education to low-income and undocumented students, who research has shown are among those who have the most to gain from liberal arts education, âsaid Carleton President Alison R. Byerly. âWe are proud to partner with the Schuler Foundation on a program that will have a tremendous impact on Carleton and peer institutions.
The Schuler Access Initiative recognizes and responds to the urgent need for financial aid dollars to ensure equal access for eligible students to Pell and DACA in Carleton. Currently, 13.5% of Carleton students are eligible for the Pell Bursaries, which are awarded to students with a family income of around $ 40,000 or less, and at least nine students have DACA status. The average financial aid for a DACA student at Carleton is $ 78,149 for the current academic year. The average financial aid given to a Carleton student eligible for Pell in 2021-2022 is $ 72,987.
Achieving the goals of the Schuler Access Initiative will result in $ 100 million in endowment funds, the payment of which will be distributed in the form of scholarships to eligible students in perpetuity through increased financial assistance as needed. When the full $ 50 million is donated by Carleton donors, the number of low-income students attending Carleton will increase by more than 50 students each year in perpetuity.
âA long-standing goal of our institution is to expand access to education for low-income people in Carleton,â said Art Rodriguez ’96, vice president and dean of admissions and financial aid. âAs the concerns of low-income students about college costs continue to grow, the Schuler Access Initiative will contribute generously to this effort. “
The Schuler Education Foundation has a long history of supporting individuals and communities by creating pathways for high performing underfunded and underrepresented students to gain admission to top liberal arts colleges. Carleton is one of five liberal arts colleges that have joined the Schuler Access Initiative, joined by Kenyon College, Union College, Bates College and Tufts University. The initiative will allow up to 20 schools to participate over the next decade.
âWhat better investment could there be for this country than investing in undocumented students? said Jack Schuler, co-founder and chairman of the Schuler Education Foundation.
Schuler, 80, is the parent of a Carleton graduate and the College’s trustee emeritus. The son of a Swiss immigrant whose father arrived in the United States in 1927 and made sure his children went to college, Schuler said he saw the same motivation in undocumented and low-income students. today, many of whom are from the first generation or children of the first-generation families.
âImmigrants have historically shown optimism and ambition in deciding to leave their country for America,â he said. âA liberal arts education is unique in the United States and has proven to be an excellent foundation for successful postgraduate studies. You become a citizen of the world with liberal arts training.
Over many years, the Schuler family has generously committed over $ 10 million for additional financial assistance, alumni engagement and other priority initiatives at Carleton, investing their philanthropic support in a variety of impactful ways. Learn more about Carleton’s partnership with the Schuler Education Foundation.