Carleton Launches $50 Million Financial Aid Initiative in Partnership with the Schuler Education Foundation
Carleton is pleased to announce a revolutionary funding partnership with the Schuler Education Foundation to dramatically increase access for low-income Pell-eligible and DACA students. Over the next 10 years, the Schuler Education Foundation will fund the financial need of each incremental1 low-income Pell-eligible and DACA student the college enrolls up to $50 million. Carleton’s policy for all students is to have their full demonstrated financial need met for all four years of college. To qualify for this generous funding, Carleton must raise a dollar-for-dollar match of the total amount expected from the Foundation within the next five years (by December 31, 2025).
This initiative recognizes and addresses the urgent need for financial aid dollars to ensure equal access for low-income and DACA students at Carleton. Successfully meeting the goals of the Schuler Access Initiative will result in $100 million in endowment, the payment from which will be distributed as scholarships for eligible students in perpetuity via increased need-based financial aid. This will ensure that Carleton can fulfill its goal of increasing enrollment of Pell-eligible and DACA students on campus to about 18 percent of the student body within 10 years.
1Incremental students are defined as any new students added *above* the average number of Pell-eligible and DACA students enrolled over the three academic years (2018-19, 2019-20, and 2020-21).