Williams Abandoning No Loan Policy

[arcadia]

<p>From Interim President Bill Wagner:</p>

<p>

Making a Williams education available to students from all financial backgrounds has long been among our deepest values. That is why our expenditures on financial aid have tripled in the last ten years (from $14.6 million in 2000-01 to $43.7 million in 2009-10) and why financial aid was the only item in our budget to increase this year as it will be in the next. The continuous review of our aid policies is among the most careful of the College’s long-term deliberations. In recent years a focus of those discussions has been on determining appropriate loan levels.</p>

<p>Our loan expectations were already among the lowest in the country (and zero for the lowest-income students) when we eliminated them for all aided students beginning in 2008-09. It now seems prudent to reintroduce modest loans for some aided students, beginning with the class that enters in the fall of 2011. No current students will be affected; neither will those who enter this fall. As before, families below a certain income, and with typical assets, will not be expected to borrow at all. Others will be offered loans on a sliding scale up to a maximum size that will again be among the lowest in the country. After four classes have entered through this program, it will make available about $2 million per year.</p>

<p>Our financial aid program will continue to be one of the most generous anywhere, as it should be, and we are convinced that Williams will remain financially attractive to aided students at all levels of income.

</p>

<p>Wait for Amherst to follow…</p>

[courteau91]

<p>It still sounds very generous, and they aren’t pulling the rug out from anyone – just doin’ what they gotta do… Go Williams!</p>

[JustADad2]

<p>Also being discussed in the New York Times.</p>

<p>[Williams</a> College Will Bring Loans Back to Aid Packages - NYTimes.com](<a href=“http://www.nytimes.com/2010/02/02/education/02loans.html?hpw]Williams”>http://www.nytimes.com/2010/02/02/education/02loans.html?hpw)</p>

[jaykoblives]

<p>Amherst’s Board of Trustees met in mid-January and nixed the idea of bringing back loans. I doubt it’s going to happen this year.</p>

[shayetorres]

<p>Does Cornell keep the financial aid package the same as your freshman year?</p>

[yodastreet]

<p>^ Might be a better idea to ask at the Cornell forums.</p>

[nicier]

<p>Once more Amherst PWNS Williams.
Go Jeffs!</p>