3 ms·
> "The university plans to add $4.5 million to its financial aid budget each year to cover its 6,500 undergraduates." ~$700 per student. > "In 2016, the avera
by votepaunchy 9y ago
> "The university plans to add $4.5 million to its financial aid budget each year to cover its 6,500 undergraduates."
~$700 per student.
> "In 2016, the average Brown student graduated with a debt of $23,810, compared with $8,908 for Princeton, which adopted the no-loans policy in 2001."
The increased financial aid may not even cover the annual increases in student debt. This change only covers a fraction of Brown student loans.
- ameister14 9y ago700->1400->2100->etc. 16 years in, which is how far Princeton is in, it's $11,200
- dcole2929 9y agoyou're assuming that the money is going to dispersed equally which is unlikely. The money is intended to replace the loan portion of financial aid packages. Most students get some amount of tuition covered by grants, and outside scholarships. So for example if tuition is $10000 (not real numbers obviously), and the student get $4,000 from pell grant and another $2,000 from an outside scholarship this new pool of money Brown raises only has to cover the outstanding $4,000 not accounted for by other sources.