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Joined: 28 Jan 2006
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 Posted: Mon Mar 19, 2007 8:42 am Post subject: Davidson gets rid of financial aid loans By ELIZABETH DUNBAR |
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Davidson gets rid of financial aid loans By ELIZABETH DUNBAR, Associated Press Writer
47 minutes ago
RALEIGH, N.C. - Davidson College announced Monday it will eliminate loans from its need-based financial aid packages and replace them with grants and work-study, a move school officials said would allow students to graduate debt-free.
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The liberal arts college had capped loan amounts in recent years to reduce student debt, but higher education experts said it's the only college of its kind to halt loan handouts in need-based aid packages.
Davidson will raise new money to pay for the grants and work opportunities. One recent capital campaigns raised about $90 million for financial aid, and future campaigns will help sustain the program, said Chris Gruber, vice president and dean of admissions and financial aid.
http://news.yahoo.com/s/ap/20070319/ap_on_re_us/financial_aid_loans |
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