Brown adopts limited no-loan student aid policy

Since the University announced no-loan financial aid in 2001, many peer institutions have moved to a similar format, and the latest change has come at Brown University.

Nonetheless Don Betterton, University director of financial aid, said that he remains confident that Princeton boasts the best program.

"We have no plans to make major changes to our aid policies," Betterton said. "We continue to believe we have the strongest overall aid program of any college."

Last month, Sidney Frank, a 1942 Brown alumnus, donated $100 million to the Providence, R.I. school to "replace standard loan expectations with additional scholarships" for "those eligible students admitted [to the class of 2005 and beyond] with the greatest financial need," according to Brown's financial aid website.

Brown's new endowment will only make it possible for the "neediest" of students to receive the entirety of their aid in the form of grants, Michael Bartini, Brown's director of financial aid, said. Princeton "sets a standard for something we would like to look forward to in the future," Bartini said.

Bartini said Brown's goal is to "continue to improve [financial aid] in concert with other university programs."

Brown's no-loan program will not benefit as many students as Princeton's does, Betterton said.

"Brown's new aid policy is to eliminate loans for very low income students . . . they estimate it will affect a few hundred students," Betterton explained. "Our no-loan policy applies to all aid students, expected to number about 2,400 this year."

But for the students who receive the no-loan package, Betterton said, Brown will be "competitive with Princeton."

With the exception of Yale, all other Ivy League institutions still have financial aid policies that rely heavily upon student loans.

Myra Smith, Yale's director of financial aid, said "any need in excess of self-help [the first $4,200 of university aid that must be worked off by the student] is in the form of grant."

Smith said Yale's goal is to "make financial aid neutral" in the college decision so that students can choose a university because they "really want to go there."

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However, Betterton said Yale's policy demands too much of its aid recipients. "Since hardly any freshman is able to work enough hours to earn $4,200, I assume almost all Yale aid students will borrow some amount," Betterton explained.

Roxanne Schneider '08 said her family's financial situation played a prominent role in her choice to come to Princeton. She recounted filling out multiple financial aid applications for state and private schools.

"I was afraid that I would get into a school like Princeton and then not be able to afford it," Schneider explained. "But due to Princeton's awesome financial aid system, it was actually less of a financial burden for my family to send me here as opposed to a state school."