Paying for College

As student debt levels have grown, some colleges are making financial aid policy changes to help minimize student debt. And some schools are radically overhauling their financial aid formulas to eliminate student loans completely.

This month, Williams College announced it will eliminate student loans from students financial aid packages. Obviously, that’s great news for Williams College students. A handful of other schools have made a similar move - Princeton University, Amherst College and Davidson College have also eliminated student loans for their students.

Given the cost of replacing loans with grants, the vast majority of colleges will be unable to follow these elite institutions. Despite that, it’s good to see that some schools are using their growing endowments to help students better afford their college degree.

Read more about this change in financial aid policy at Williams College at the Wall Street Journal.

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