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Will Georgetown join the no-loans club?

donjuan78donjuan78 596 replies37 threads- Member
edited March 2008 in Georgetown University
It seems that every elite private university now has gone the no-loans route; even those which relatively rank lower than Georgetown (tufts). Will Georgetown be next?
edited March 2008
11 replies
Post edited by donjuan78 on
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Replies to: Will Georgetown join the no-loans club?

  • tehlikeli asktehlikeli ask 144 replies6 threads Junior Member
    what is the no-loans route?
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  • donjuan78donjuan78 596 replies37 threads- Member
    FinAid | Answering Your Questions | No Loans for Low Income Students
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  • marie90marie90 106 replies16 threads Junior Member
    hope so..... but i doubt it. i think georgetown is pretty notorious for low financial aid it seems.
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  • somedumbnoobsomedumbnoob 445 replies27 threads Member
    Georgetown's 1 billion dollar endowment is smaller than those that went to no loans. Uchicago, Northwestern, and Wustl all did it this year and each had around 6 billion dollar endowments. Even Tufts has 1.5 billion and Georgetown is almost twice as its size.
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  • jangel86jangel86 625 replies14 threads Member
    Georgetown is trying to get there, but right now they can only give no loans to a select few students in the Georgetown Scholarship Program, which is funded by alumni donations, and is in it's 3rd year now. It isn't really clear how students are picked for the scholarship, besides financial need. They seem to want to get rid of loans, but simply don't have the funding for it.
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  • JeydomzJeydomz 383 replies45 threads Member
    Does anyone have information about Georgetown's current capital campaign? A school of such caliber could definitely use an endowment greater than 1 billion.
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  • AiHyAiHy 161 replies19 threads Junior Member
    The Georgetown Scholarship Program doesn't even completely get rid of the loans, at least not for some (me!). My understanding is that it replaces the Stafford loan with grants entirely for the first year, then partially for the remaining three years (less each year). It helps, but unfortunately definitely does not get rid of loans entirely. For me, it means I will graduate with about 20% less debt, which is nice, but the total debt I will have is still tens of thousands. Oh and I have no clue how students are selected for GSP either.

    I've heard that Georgetown is working on its financial aid, but I think it will be at least a few years before it attempts any sort of no-loans initiative.
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  • donjuan78donjuan78 596 replies37 threads- Member
    wait, how were you selected for the GSP? is that through admissions or finaid?

    Either way, i heard that GTown is no very generous when it comes to finaid. That sucks :(
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  • jangel86jangel86 625 replies14 threads Member
    It's more generous than schools like BC, at least!
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  • wpolo8wpolo8 102 replies14 threads Junior Member
    georgetown is only ranked 76th nationally in endowment funds. it is the highest caliber university with the lowest endowment.
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  • RBallard14RBallard14 204 replies19 threads Junior Member
    trudat, georgetown has a smaller endowment than several liberal arts colleges even, most notably pomona with 1.8 billion dollars for its 1500 students.....georgetown has 1 billion for 14,000 students.
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