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Article: News and Views; Princeton's Stunning Increase in Financial Aid: What About African Americans?
- Article from:
- The Journal of Blacks in Higher Education
- Article date:
- April 30, 2001
CopyrightCopyright CH II Publishers, Inc. Apr 30, 2001. Provided by ProQuest LLC. (Hide copyright information)
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Once again, Princeton University, an institution with the largest endowment per student of any university or college in the United States, has sent shivers through the academic world. It's a real stunner. This time the university has abandoned all precedent by completely eliminating student loans from its financial aid formula. Beginning with the class entering in the fall of 2001, all student loans will be replaced with scholarship grants!
This is the second time in the past three years that Princeton has taken a bold step to ramp up its financial aid program. In 1998 Princeton announced that for families with incomes below $40,000 all financial aid would be in the form of scholarship ...