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Endowment Losses Threaten No-Loan Policies as Guarantees Vanish
More than 30 top-ranked private U.S. colleges adopted policies in 2007 and in early 2008 that replaced loans given in financial aid packages with outright grants that students don’t have to repay. Schools were driven by competition for students comparing financial aid packages and criticism from Congress as annual costs approached $50,000 a year, says one college professor. Janet Frankston Lorin, Bloomberg News, August 25, 2009

 
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