<p>Phillips Exeter Academy announced today that it would eliminate student loans as part of its financial aid program, replacing them with outright grants.
<a href="http://www.exeter.edu/communications/pr/Fin%20aid%20press%20release-02%2022%2006.htm%5B/url%5D">http://www.exeter.edu/communications/pr/Fin%20aid%20press%20release-02%2022%2006.htm</a></p>
<p>YES!!!! YES!! Thank you!!!!!!!!!</p>
<p>Have faith all ye who seek to matriculate and worry about money......have faith.</p>
<p>That's good; though I'm perplexed that Exeter had loans in their financial aid packages to begin with...why would anyone would take out a loan just for high school, when paying for college is so much more important.</p>
<p>Loans were generally for that portion of contribution which attributed to a student having a summer job. Also, Exeter took into consideration that families needed to pay for college. Now the loans are gone.</p>
<p>Yup. And they also say that they're going to increase the number of kids who recieve financial aid.</p>