That may be the case now, but I graduated from Penn in 2006, and it was different story then (until about 2008 I think, with Princeton being the first to break

That may be the case now, but I graduated from Penn in 2006, and it was different story then (until about 2008 I think, with Princeton being the first to break the trend). Before that, a portion of your financial aid would be a loan directly from the school. My loan was subsequently sold to Citibank.