Colleges are getting rid of student loans, offering grants instead

into their own hands by making it impossible for students to take out loans in the first place.

Colgate University, a private college in New York, recently announced it's using its $1.3 billion endowment to make a four-year education significantly more affordable for students. The university launched anthat would make Colgate tuition-free for students with an annual family income of less than $80,000, and for students with family incomes of up to $15o,000, they will not have to take out student loans to pay for their education — they will be offered grants, instead.

"We have a $1.3 billion endowment for a relatively small school," Colgate University President Brian Casey Yahoo Finance."We have very strong alumni support. So we went to our alumni and said: 'We want to start taking away student loans.'" last week an initiative to eliminate student loans from its undergraduate financial aid packages for students receiving need-based grants. And for students with expected family contributions of less than $7,000, they will receive one-time"start-up grants" of $1,000, along with their financial aid packages.

"Eliminating loans from our aid packages also aligns strongly with our institutional commitment to racial justice and equity—given that, on average, Black and Latina/o students, at Smith and across the nation, graduate with more student debt than their peers," Smith College President Kathleen McCartney wrote in a letter.

It's good that there are lawmakers in support of this. They should want to lessen the debt crisis because it not only makes things harder for borrowers, but it also makes things more complicated for the government. I wouldn't mind for some of my student loans to be 'abolished'.

更多的大学正在取消学生贷款，以避免让1.7万亿美元的债务危机恶化

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here’s Who Qualifies For Student Loan Forgiveness Right NowHow to get student loan forgiveness This thing with Biden is not working 😩 I'm still smiling! It's been so beneficiary trying someone new. The step take couldn't be much better. So glad I came across Geoffreypreud Obviously not this guy! I’m just a pup and I did better in school than he did. Amazing. I’m not even asking the tax payer to subsidize my doggy doctorate.🐾
Source: Forbes - 🏆 394. / 53 Read more »

Stanford Joins Group Offering Classes to Disadvantaged High-School StudentsStanford has joined about a dozen highly selective colleges and universities to offer digital college courses in an effort to reach high-school students in economically disadvantaged communities Protests on Saturday 10/23/21 against 💉 vaccine passports in France 🇫🇷, 🇩🇪 Germany, 🇨🇦 Canada, 🇮🇹 Italy, 🇨🇭 Switzerland, 🇭🇲 Australia, 🇺🇸 USA and many other countries. Here in Brazil, unfortunately the cattle keep reaching out...
Source: WSJ - 🏆 98. / 63 Read more »

Jean Smart acquires life rights to country star and LGBTQ activist Chely WrightSmart's production company also acquired the rights to John Hawkins, an Ole Miss college student who in 1981 refused to carry the Confederate flag. Whooo 🙄
Source: TODAYshow - 🏆 389. / 55 Read more »

Some colleges are practicing 'affirmative action' for boys, since more girls apply, education experts say. It points to a bigger problem.Some US colleges are accepting a higher share of their male applicants than their female applicants. That's because more girls apply, but schools want to keep the ratio somewhat even in the student body.
Source: YahooNews - 🏆 380. / 59 Read more »

Op-Ed: Rampant online cheating is the dark side of remote learningFear of getting caught is probably not enough motivation to stop all cheating students. So what can we do? (via latimesopinion)
Source: latimes - 🏆 11. / 82 Read more »