Brown University has launched a campaign to raise $120 million to replace student loans with grants that don’t need to be repaid, The Hill reported.

The initiative aims to take the financial burden of repayment off of aid recipients. The policy should substantially reduce the average debt burden of its graduates.

Princeton University already has a similar policy in place. Its graduates’ average total indebtedness is $8,908, compared to $23,810 at Brown.

“We’re committed to making a Brown education accessible to students from all income groups, so we can continue to accept the very read more >>>

Source:: BusinessInsider.Com