Private Colleges Halt Some Student Assistance
Last year, as a result of the economy, across the US, private colleges have had to lay off staff and put new construction on hold as well as making cut-backs to sports programs. All the while however, student financial aid has remained steady.
Now many colleges are being forced to limit their generosity after some of them tripled financial aid over the past ten years in order to attract more students.
Dartmouth and Williams announced that they are no longer going to offer financial aid packages to students of any income to attend without taking out loans. Many more colleges are expected to follow this trend, meaning that more students will be forced to take on more debt in order to earn a college degree.
It is thought that many colleges went overboard last year because they were worried that their enrollments were dropping, although there were no significant drops in enrollment.
Some other top colleges besides Williams and Dartmouth are sticking with their no-loan policies for the time being with Amherst College being among them. Amherst has doubled its low income student enrollment recently partly due to the fact that more student transfers are coming from community colleges.
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