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Williams College announced last Thursday that it will drop all loans from financial aid packages and meet need solely with grants, joining a group that includes Princeton University, Davidson College, and Amherst College, according to insidehighered.com...
...later, Wesleyan College announced that it will curb its issuance of loans, moving all students of families with incomes below $40,000 to grant-only packages and reducing the size of loans in aid packages to families with incomes higher than that number. [SEE CORRECTION BELOW...
Currently, Harvard College is not amongst the group that has done away with loans. The College meets demonstrated financial need through a combination of loans, work-study, and grants. According to the Financial Aid Web site, about half of Harvard undergraduates graduate with some loan debt, typically between...
Sally C. Donahue, director of financial aid at the College, wrote in an e-mail that “The median graduating debt for the Class of 2007 was $6,750, with roughly 750 students having borrowed at some point during their Harvard career.” In contrast, said Donahue, 935 members of the Class of 1997 borrowed, graduating with a median debt...
...cutting off aid is a risky venture. U.S. officials are concerned about how seemingly few results Musharraf has delivered for the money. However, no one wants to be around to see what will happen if his regime is allowed to collapse. "The U.S. is unlikely to ditch Pakistan and cut off all aid," says Teresita Schaffer, a 30-year State Department veteran and director of the South Asia program for the Center for Strategic and International Studies. "They have to continue working with Pakistan on Afghanistan and terror-related stuff." Schafer suggests that the U.S. could start making more distinctions...