Scholarships vs. no loan policy

Colleges & Universities Claremont McKenna College
1

<p>In March, 2008, Claremont McKenna announced a no loan policy ([News</a> Release, News and Events, Claremont McKenna College](<a href=“http://www.cmc.edu/news/pressreleases/article.asp?article_id=965]News”>http://www.cmc.edu/news/pressreleases/article.asp?article_id=965)) in which student loans within financial aid packages were eliminated. This doesn’t mean the financial aid packages will get bigger (especially with investment funds down), but it does mean there will be fewer loans, which is a good thing, to be sure.</p>

<p>Does anyone know whether the same group of people at CMC awarding the scholarship money is also involved with awarding financial aid? I’m wondering how independent they are.</p>

2

<p>Old system = scholarship of X amount, $3,500 student loan, plus campus job.
New system = X scholarship plus $3,500, campus job. So, yes, in fact the announcement last March does mean that CMC need-based aid packages will all have more scholarship money in them in order to replace what would have been the student loan amount. Scholarships are a form of financial aid. There are need-based scholarships and there are merit-based scholarships. The Financial Aid Office awards the need-based scholarships and the Admission Committee awards the merit-based scholarships.</p>