Brown to replace loans with scholarships in aid packages - ABC6 - Providence, RI and New Bedford, MA News, Weather

Brown to replace loans with scholarships in aid packages

Posted: Updated:

PROVIDENCE, R.I. (AP) - Brown University says it will replace all student loans with scholarships in its financial aid packages starting next year.

The Ivy League school announced Thursday that by raising $30 million it can now eliminate institutional loans for all returning and incoming undergraduate students.

Brown President Christina Paxson says it amplifies the university's commitment to attract the "best and brightest students" regardless of background.

The move is aimed at families with moderate incomes who don't qualify for larger financial-aid packages given to low-income students.

It follows other steps to make Brown more accessible, including a 2003 admissions rule that forbids the school from considering an applicant's ability to pay tuition.

Brown started raising money to end loans in September and says it needs $90 million more to sustain the program.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly

10 Orms Street Providence, R.I. 02904
401-453-8000

All content © Copyright 2000 - 2017 WLNE.
All Rights Reserved.

For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.