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A report released earlier this year found that college endowments had decreased by an average of 18.7 percent during the year ending June 30, 2009.
Dartmouth College, whose endowment fell by 23 percent last year, announced yesterday that it will alter its no-loan financial aid program due to financial difficulties and will reintroduce loans for families whose income is between $75,000 and $200,000.
Under Harvard College’s current financial aid policy, families who make under $60,000 are not expected to contribute at all to the cost of attending college.
No undergraduates are expected to take out loans, and families who make between $60,000 and $180,000 are expected to contribute no more than 10 percent of their annual income toward college expenses.
Williams College also recently announced that it would reinstate loans as part of its financial aid policy.