Columbia University Eliminates Loans as Components of Its Financial Aid Packages for Low-Income Students

Following in the footsteps of several other high-ranking colleges and universities, Columbia University will replace loans with scholarship grants for students from families with incomes below $50,000. The program will begin in the 2007-08 academic year and will apply to all, not just entering, students.

Latest U.S. government Pell Grant data shows that Columbia has the highest percentage of low-income students among the eight Ivy League colleges. This new initiative will make it easier for Columbia to attract an even larger share of low-income students. The new plan is expected to cost Columbia an additional $3.5 million in financial aid costs annually.

Blacks are 7.2 percent of undergraduate enrollments at Columbia University.