Amherst Eliminates all Loans

From Inside Higher Ed:

Amherst College announced Thursday that it is eliminating all loans for students, effective with the Class of 2012. In 1999, Amherst eliminated loans for students from families with incomes of less than $40,000, but many students continue to borrow. In 2006-7, almost one third of Amherst students received aid packages that included loans. Anthony W. Marx, Amherst’s president, said in a statement that the shift “broadens” the commitment made in 1999 “by eliminating barriers for middle income families.” The college expects to spend about $1.6 million next year to replace loans with grants. While a number of colleges have eliminated loans for those below certain income levels, blanket policies like this one are rare. Princeton University eliminated loans in 2001 and Davidson College did so this year.

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6 thoughts on “Amherst Eliminates all Loans

  1. Anonymous

    My family makes $30,000. Where’re my grants?Kidding. Well, not about the income figure. It’s strange but nice that Wesleyan is slightly more affordable for me than going to a state college. The people in the financial aid office are also very friendly.

  2. Anonymous

    My family makes $30,000. Where’re my grants?

    Kidding. Well, not about the income figure. It’s strange but nice that Wesleyan is slightly more affordable for me than going to a state college. The people in the financial aid office are also very friendly.

  3. Anonymous

    Does Amherst claim/guarantee to meet financial need? If they do… this sort of thing would (clearly) make a huge difference to me as an applicant. Hella. Yeah. Good for them.

  4. Anonymous

    Does Amherst claim/guarantee to meet financial need? If they do… this sort of thing would (clearly) make a huge difference to me as an applicant. Hella. Yeah. Good for them.

  5. Anonymous

    Hoping Wes will follow the trend? Not with half the endowment and twice the enrollment it won’t…

  6. Anonymous

    Hoping Wes will follow the trend? Not with half the endowment and twice the enrollment it won’t…

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