Yes, it has been recently reported three elite colleges: Colby, Wesleyan, and Williams are making it easier for lower-income students to attend. It’s worth considering these colleges if their requisites apply to you. Why take on debt when you do not have to?
Williams had already eliminated loans for students of low-income families, replacing them with grants, which do not have to be paid back. Now they are seeking to replace all loans with grants. Wesleyan is offering grant packages for students from families with $40,000 annual income or less and reducing loan debt for other students by 35% through packaged Stafford loans. Colby is replacing loans with grants for all Maine students.
With the costs of education such steps by private colleges with huge endowments seem reasonable.
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