Wesleyan University Beefs Up Financial Aid for Low-Income Students

Wesleyan University, the highly selective liberal arts college in Middletown, Connecticut, recently announced that it will eliminate all loans from financial aid packages for students who come from families with incomes below $40,000. The college hopes to reduce the average debt of all students on financial aid by 35 percent.

The new financial aid program is expected to add $3.2 million to the university’s financial aid budget. Currently the university spends $35.4 million on student financial aid programs.

Wesleyan has a student body that is 7 percent black. About 13 percent of all students at the university receive federal Pell Grant awards for low-income students.