Whoah! Whoah whoah whoah yes. Yes.
“Beginning with the first-year class enrolling in the fall of 2008, most students whose total family incomes are $40,000 per year or less will receive an aid package that substitutes grants for any loan obligation. Beginning with the same class, all other students who receive aid will graduate with a four-year total loan indebtedness reduced by an average of 35 percent. Aid packages will include a single student loan, the federally subsidized Stafford Loan.”
Awesome. I wish that I had taken two years off after high school, but awesome. I’ve been wishing that Wesleyan could do this for a long time but all I’ve heard is that we don’t have the money. And so I give the $26 million Zelnick Pavilion dirty looks and go on with my life.
I’m glad. It seems like all we’ve been talking about lately is building (Good thing we’re free of MoCon! Good thing we’re free of Davenport! Hall Atwater is so 20th century… let’s spend another 126 mil. And while we’re at it, don’t you think the Usdan is getting a little dated?) — so this is refreshing news. Administrators do care! (okay, feel free to comment on that). It also makes me believe that we actually will eliminate loans for all students when we can.
The announcement is here.