After meeting with the Board of Trustees, President Brian W. Casey announced updates to the Colgate Commitment initiative through an Oct. 6 email addressed to members of the Colgate community. 

The initiative, part of the university’s Third-Century Plan, was announced in 2020 and replaced federal student loans with University grants for families making less than $150,000 per year. According to the email, this cutoff has now been extended to families making $175,000 per year.

“This is part of Colgate’s efforts to reduce the burden of student debt on its graduates,” Casey said in the email.

Beyond tuition payments, the Board also decided to expand financial aid packages to cover other costs students may incur while at Colgate.

“For students on financial aid, aid packages have expanded to meet the average cost for textbook and other classroom expenses as part of Colgate’s efforts to meet the full cost of attendance beyond tuition,” Casey said in the email. “This is an important step in ensuring that student academic choices and experiences are not constrained by demonstrated financial need.”

The Colgate Commitment will continue to eliminate tuition for students from families making less than $80,000 per year, with 5% and 10% caps on tuition for family incomes from $80,000 to $125,000 and $125,000 to $150,000, respectively.

According to the email, the Third-Century Plan has added millions of dollars to student support initiatives such as the Colgate Commitment, with the university’s financial aid budget reaching $76 million. Casey emphasized that Colgate continues to meet its promise of offering students 100% of demonstrated financial need.“These additional investments in Colgate students have been made possible by the remarkable support of Colgate alumni, parents, and friends as well as through direct investments made by the University within Colgate’s operating budget,” Casey said in the email.