Loans / Mortgage
Brown to change loans with scholarships in aid packages
PROVIDENCE, R.I. >> > > Brown University says it will change all trainee loans with scholarships in its financial assistance plans starting next year.The Ivy League
school announced Thursday that by raising $30 million it can now eliminate institutional loans for all returning and inbound undergraduate students.Brown President
Christina Paxson says it amplifies the university’s commitment to attract the “finest and brightest students “no matter background.The move is intended at families with moderate earnings who do
n’t get approved for larger financial-aid bundles provided to low-income students.It follows other actions to make Brown more available, including a 2003 admissions rule that forbids the school from considering an applicant’s ability to pay tuition.Brown started raising cash to end loans in September and states it needs$90 million more to sustain the program.
By The Associated Press Published: 12/07/17, 12:20 PM EST |