Brown University moves to replace student loans with grants

PROVIDENCE, R.I. (AP) — Brown University has launched an initiative to replace undergraduate loans with grants that don’t need to be repaid

The Providence Journal reports that the college started its $120 million fundraising project on Wednesday. Brown hopes to make education more accessible to students.

The initiative, called The Brown Promise, is scheduled to start with incoming students during the 2018-2019 academic year.

Brown President Christina Paxson says the Ivy League institution wants students to consider Brown an affordable choice.

Dean of Admission Logan Powell says no student should be forced to “turn down admission because of the burden of student debt.”

The Brown Promise is part of a $500 million undergraduate financial aid fundraising effort.