'No Loans' Revisited

Scott Jaschik:

"No loans" policies were the hit of 2007 and 2008, as many of the nation's most elite (and wealthy) colleges and universities announced that borrowing would be eliminated from the aid packages of students with family incomes below certain levels.

But this particular movement in higher education took off just before the economic downturn hit in the fall of 2008, sharply reducing these institutions' endowments and forcing many of them into budget-cutting mode. Now, a few years later, institutions are taking steps that reflect very different financial outlooks than those before the downturn. In May, Wesleyan University ended its policy of need-blind admissions, a policy seen by many as (when combined with meeting admitted applicants' full need) the gold standard of private college admissions. This policy is supposed to mean that applicants can rest assured of their ability to attend if admitted -- and that lack of resources shouldn't stand in the way.

Posted by Jim Zellmer at July 13, 2012 3:30 AM
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