On October 9th, Holy Cross, a prestigious liberal arts college in Worcester, Massachusetts, announced a major expansion of its financial aid program. The college will now cover the full cost of tuition for families earning less than $100,000 per year, an increase from its previous threshold of $75,000.
“We hold firmly to the Jesuit belief that education should be accessible to all who want to pursue a life of passion and service to others,” they explain on their website, “a practice made possible by our robust financial support systems, which allow us to meet 100% of demonstrated need at the time of admission.”
The decision aims to ease the financial burden for middle and lower-income families and builds on Holy Cross’s long-standing commitment to affordability. During the 2023-2024 academic year, the college awarded $76.5 million in financial aid, with 65% of its students receiving need-based grants.
“Holy Cross is one of a select group of colleges (fewer than 100) that meets 100% of each student’s demonstrated financial need at the time of admission,” their website explained.
Holy Cross is committed to using the Principles & Standards of the College Cost Transparency Initiative (CCT) in its student financial aid offer. The CCT is an organization that advocates for clear and honest financial aid communication, and encourages institutions to adopt straightforward financial aid offers that allow families to understand the true costs of education. CCT urges colleges to provide clear guidance, empowering families to make informed decisions and align with ethical standards in higher education.
As institutions like Holy Cross work to reduce barriers, CCT’s standards highlight the growing movement for integrity and clarity in college financial aid practices.
Holy Cross President Vincent D. Rougeau emphasized the importance of the financial aid expansion in a public statement. “One of Holy Cross’s top priorities is to ensure that talented students from all backgrounds can access a Holy Cross education and be supported to flourish on our campus and beyond.” He expressed pride in deepening the institution’s commitment to expanding educational opportunities.
This initiative continues Holy Cross’s leadership in reducing barriers to higher education. In 2005, the college was among the first in the nation to make standardized test scores optional in the admissions process, signaling its dedication to inclusivity.
The expansion comes amid growing concerns about the rising costs of higher education. The financial aid boost is expected to make a significant impact on the socioeconomic diversity of the student body.
