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Article: Princeton ups financial aid
- Article from:
- University Wire
- Article date:
- January 31, 2001
- Author:
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Nicole B. Usher
University Wire
01-31-2001
(Harvard Crimson) (U-WIRE) CAMBRIDGE, Mass. -- Princeton University announced on Sunday that it will replace student loans with outright grants and scholarships, funding the change with its $8 billion endowment.
The policy change reduces the current average of $15,000 to $20,000 of debt that students graduate with annually.
Princeton's last major financial aid change was in 1998, and it substituted grants for loans for students whose families earn less than $46,500. Harvard followed suit, giving an additional $2,000 per semester to eligible students.
Harvard officials said they were also looking for ways to fund reductions in Harvard students' debt ...