ATLANTA — Emory University announced Monday it will eliminate need-based loans for undergraduates in a program that will allow more students to graduate debt-free.
The expansion of the Emory Advantage plan will replace need-based loans with institutional grants and scholarships. The university said that the changes will be implemented this fall and aims to make Emory accessible to talented students regardless of their financial resources.
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Every undergraduate student who is eligible for need-based aid will be automatically moved into the expanded Emory Advantage program.
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It will double the number of current undergraduate loans that will be replaced by grants, bringing the total number up to 3,300 undergraduates.
“For Emory to fulfill our mission of serving humanity in all that we do, we are continuing to invest in making an Emory education affordable to talented students of all financial backgrounds,” says President Gregory L. Fenves. “By eliminating need-based loans for undergraduates, our students have the opportunity to earn their Emory degrees with less debt as they embark on their extraordinary journeys after graduation.”
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Eligible students will receive a letter in the mail in the next few days.
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