Duke University has become the latest wealthy institution to announce that it will provide more grants to low- and middle-income students, replacing their loans and parental contributions.
The policy, unveiled Saturday, will allow students with family incomes below $40,000 to graduate debt-free; eliminate parental contributions for students from families who make less than $60,000; reduce loans for students with family income up to $100,000; and place a cap on loans for some families with incomes above $100,000.
Officials at Duke say the program will help about 2,500 undergraduates beginning next fall. Duke’s president, Richard H. Brodhead, said the program was made possible by higher earnings on the university’s endowment and fund-raising dollars.
Other institutions, including Princeton University, Amherst College, and Davidson College, have taken similar steps in recent years. —Jeffrey Selingo
