This is Vassar: The newsletter for Vassar College Alumnae/i and Families

Vassar Increases Affordability with New No-Loans Policy

The Vassar College Board of Trustees has approved the decision to eliminate loans from the financial aid packages of students with calculated family incomes of up to $60,000, replacing the loans with additional Vassar scholarship grants. This new policy takes effect in Fall 2008 and applies to students in all four classes, including current students.

This decision will increase Vassar’s already strong financial aid commitment — the college expects to spend $34.5 million in Vassar scholarship grant funds during the 2008–09 academic year for the approximately 55% of students who currently receive aid — by adding about $1 million a year.

Vassar is only one of half a dozen colleges with endowments less than $1 billion (the Vassar endowment was valued at approximately $890 million as of December 31, 2007) to replace loans in some financial aid packages.

April 2008

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