Welcome! It looks like you're new here. Be sure to subscribe to my RSS feed so you don't miss a thing! Thanks for visiting!

It’s times like these I wish there was a reason for me to go back to school… It was announced yesterday that Bowdoin College in Brunswick, Maine is eliminating all of their student loans and replacing them with grants for all incoming and current students receiving financial aid beginning next fall. The Associated Press reports,

Bowdoin is the latest liberal arts college — including several Ivy League schools — to adopt a no-loan policy in an effort to attract more students who otherwise can’t afford the high cost of college.

Students are now graduating college encumbered by an average of $20,000 in student loan debt. Bowdoin is trying to help alleviate that, at least for their students.

Bowdoin President Barry Mills said that by converting loans to grants, Bowdoin will eliminate a heavy debt burden for students who are eligible. Forty percent of Bowdoin’s students receive some form of finanical aid.

Technorati Tags: Bowdoin College, college, Student Loans, Graduate

Popularity: 34% [?]