No-loan plan at Swarthmore

0 Comments | Philadelphia Inquirer, The, December, 2007 | by Dan Hardy, Susan Snyder and Kathy Boccella Inquirer Staff Writers

Swarthmore College will replace all student loans with scholarships in financial aid awards beginning next fall, the dean of admissions said yesterday. Swarthmore's move will put the elite liberal arts college in Delaware County in a league with Harvard University, Princeton and a handful of other colleges and universities that also have replaced loans with grants for all students who qualify for financial aid.

Other colleges and universities in the area, including the University of Pennsylvania, are considering similar changes. Tuition, room and board at Swarthmore is now $45,700, Jim Bock, the dean, said yesterday. The average aid award for students is $31,388. About half of the school's 1,500 students receive need-based financial aid. Swarthmore has already replaced...