Tuesday, February 12, 2008

Bravo Grinnell!

It sure has been a good week for my alma mater, Grinnell College. First, 1960 alum Herbie Hancock wins the Grammy for album of the year. Then College President Russell Osgood announces that financial aid will be increased by 4.5 million dollars. This is exactly the kind of move I wanted Grinnell to make. Some highlights of the announcement.

The complete restructuring of financial aid packaging, some of which was adopted last year and the year before, includes:
• Capping need-based loans at $2,000 per year
• Significantly increasing funding to reduce loans at graduation
• Omitting any student's required financial contribution for one summer if he or she engages in a socially worthwhile or educationally relevant activity
• A more generous definition of demonstrated need
• Improving aid for international students
• Increasing expense allowances
• Indexing merit aid awards by the percentage of comprehensive fee increases while enrolled


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