Christmas spirit moves the Trustees? They fear the working class rather go to Harvard?
Or, not wanting Congress to eye those huge unspent endowments controlled by tax exempt research corporations that dabble in education. A soon to be cash strapped Trustees wish you a merry friggin' Christmas and now really need to build that 40th Street PoBoy Hotel to house the anticipated flood of PoParents, who wont be able to afford to stay on campus. May your family,too, enjoy the blessings of Christmas throughout the new year, Craig Penn announces new financial aid policy By 2009, grants will replace loans in all aid packages By: Emily Babay Posted: 12/11/07 The University announced a new financial aid policy Dec. 17, launching an initiative that will eliminate loans from all undergraduate financial aid packages within two years. Beginning in September 2008, undergraduate students with family incomes under $100,000 will receive loan-free packages, according to a University press release. By fall 2009, all undergraduates eligible for financial aid will receive loan-free packages, regardless of income level. The policy will apply to all eligible undergraduate students, not just incoming freshmen. Half of the about 4,000 Penn students who receive financial aid have a loan as part of their package. Under Penn's current policy, students with family incomes under $60,000 are eligible for loan-free financial aid packages. "We have previously addressed the needs of low income and lower middle income families, but now must respond to the needs of our middle and upper middle income families, who are facing the highest levels of debt," Penn President Amy Gutmann said in the press release. Penn's announcement comes the week after Harvard University and Swarthmore College both announced major financial aid policy changes, with Swarthmore eliminating loans in all aid packages. The new aid policy will be funded in large part through funds from the University's current $3.5 billion capital campaign, Gutmann said in the press release. © Copyright 2007 The Daily Pennsylvanian ________________________________________________________________________ More new features than ever. Check out the new AOL Mail ! - http://webmail.aol.com
