WILLIAMS and WESLEYAN TO REPLACE LOANS WITH GRANTS

Paying for College
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<p>Williams and Wesleyan will join a growing list of prestigious private colleges and universities that will replace the debt component of their financial aid packages with grant aid for significant portions of their student bodies; Williams will eliminate them for all students beginning with class entering next Fall while Wesleyan will eliminate them for students from families earning less than $40,000. Wesleyan and Willaims join Harvard, Amherst, Princeton, and Davidson in what has become a growing movement to make elite education more "accessible" to low and middle-class families:
<a href="http://www.insidehighered.com/news/2007/11/02/noloans%5B/url%5D"&gt;http://www.insidehighered.com/news/2007/11/02/noloans&lt;/a>
The</a> Chronicle of Higher Education</p>

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<p>Copy cats ;)</p>

<p>No, that's fantastic, I didn't know Wesleyan had the endowment to do that. How terrific.</p>

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<p>I don't know. Seems like price discrimination to the middle class.</p>

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<p>jclay:</p>

<p>just the opposite, it is free money for the upper & middle class; it's a defacto discount. If you run some numbers on Princeton, for example, you'll find that someone with a $150k income can be eligible for need-based aid, which at most schools would be a small loan. But, at P'ton and the other no-loan schools, it's a small grant = free money.</p>

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<p>bluebayou. Exactly how much need based grant do you get off a tuition plus room and board cost of 50,000 $? I am guessing not very much.</p>

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<p>unregistered wrote:</p>

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<p>It's the new president. Wesleyan has always had hidden resources, mainly in the form of alum who need to be approached in just the right way for different things. This fellow, Roth apparently has a knack for it.</p>

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<p>Princeton</a> University | Who Qualifies for Aid?</p>

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<p>Danas, you have definatly proven me wrong. I can't believe how much money they are giving out. But, I guess i shouldn't expect anything less considering their endowment.</p>

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<p>Williams no loan policy is now for everyone; no income cut off. There will be no loans at Williams, just like Princeton and Amherst.</p>