"Building on a long history of providing access to students regardless of economic circumstances, Cornell recently announced a new financial aid initiative to reduce or eliminate need-based loans for eligible undergraduate students. In the 2009-10 academic year, the program will eliminate need-based loans for students from families with total incomes below $75,000, and cap annual loans at $3,000 for students from families with total incomes between $75,000 and $120,000. Cornell’s financial aid program will make it possible for students from diverse economic backgrounds to attend Cornell."
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I feel like Cornell is really behind in financial aid initiatives.