University of Pennsylvania Expands Financial Aid Program to Eliminate Loans
Thursday, December 20th, 2007Graduating debt-free? University of Pennsylvania is making it possible for students from various economic backgrounds. According to a press release on December 17th, starting September of 2008 students with calculated family incomes under $100,000 will receive loan-free aid packages, while families above that level will receive a 10 percent reduction in need-based loans. By fall 2009, all undergraduate students eligible for financial aid will receive loan-free aid packages, regardless of family income level.
After, Harvard recently announced its middle-income initiative, it is nice to see another Ivy League school to tackle the issue of growing higher education costs.
