February 9, 2001

Princeton Increases Endowment Spending to Replace Students' Loans With Grants

By FLORENCE OLSEN and KIT LIVELY

Princeton University will spend an additional $16-million from its endowment this year to eliminate loans from undergraduates' financial-aid packages and provide significantly more support for graduate students.

Beginning this fall, Princeton undergraduates who receive financial aid will no longer be required to take out loans to help pay for their education and will instead receive larger grants from the university. Under the new policy, incoming students

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