Matthew SchifrinStarting next fall, Brown Univeristy undergraduates will notice a big change in their financial aid packages. Here’s what you need to know:Scholarships, Not LoansFor all Brown-packaged financial aid awards, the Providence, Rhode Island university will replace student loans with scholarship funds (that do not have to be repaid) for all returning and incoming undergraduates starting in the 2018-2019 academic year. The announcement today comes after Brown reached its ambitious $30 million fundraising goal launched this past September. According to Brown, a total of 2,087 donors pledged their financial support to this goal. To ensure the longevity of the new initiative, Brown plans to raise an additional $90 million.

Source: Forbes December 07, 2017 20:15 UTC