Brown Increases Aid To Undergrads by $5M

In an effort to make education more affordable for its neediest students, Brown University announced a $5 million increase in scholarship grants yesterday.

A 4.3 percent tuition hike--Brown's lowest in 30 years--will accompany the scholarship fund increase, raising the full tuition costs to $24,624 starting with the class of 2003.

The change comes largely as a response to financial aid reform initiated by other Ivy League schools in recent years.

Harvard, Princeton, Yale, Stanford, Columbia and MIT have all expanded their financial aid programs in recent years. The aid has been focused on helping middle class families afford higher education at some of the universities.

At Harvard, the aid increase is designed to give students more freedom in determining how to spend their time. Now Brown is helping its neediest students afford an education.

"We want to maintain our competitive position in the marketplace," said Brown Director of Financial Aid Michael D. Bartini.

"There is also an interest to improve things for students," said Mark Nickel, director of the Brown news bureau.

Students whose parents make less than $30,000 a year will incur 70 percent less debt over four years. These students will graduate owing only $7,000 in loans, versus $28,000 before the aid hike, according to a press release.

The students demonstrating the greatest need will receive an additional $17,000 in grants over four years.

"Our new policy will help keep a Brown education accessible and affordable for applicants from the widest possible economic spectrum," Brown President E. Gordon Gee said in a written statement.

Brown also announced at least $1,000 in annual scholarships to students from middle-class families, lessening their post-graduation loan burden. These scholarships will be available to about 4 percent of the incoming class.

Students in the class of 2003 offered early admission last December have not yet received financial aid statements, which will be available on April 1.

The University's governing board, which approved the scholarship increase on Saturday, endorsed a $39 million recommendation for the over-all financial aid budget, up over 9 percent from the current year.

Financial aid awards are based on need rather than merit at Brown, as at all Ivy League schools.

Last year, Harvard announced an increase of $2,000 in the amount of additional Harvard grant assistance availableto individual scholarship recipients, therebyreducing the amount students are expected toprovide.

Harvard estimates that, under its new policy,some students will receive up to $25,000 inadditional aid over four years.

Harvard's endowment, currently at the $13.1billion mark with another year to go in thecapital campaign, is more than 13 times that ofBrown's $965.2 million endowment.

Although Harvard's applicant pool increased byover 1,300 people after the University expandedits financial aid program, Brown officials saythey do not necessarily expect an increase inapplications to follow the recent aid increase.

"I'd like to think our applicant pool will stayas strong as it has in the past," Bartini said.

Currently, 37 percent of Brown undergraduatesreceive scholarships, according to theuniversity's Web page

Harvard estimates that, under its new policy,some students will receive up to $25,000 inadditional aid over four years.

Harvard's endowment, currently at the $13.1billion mark with another year to go in thecapital campaign, is more than 13 times that ofBrown's $965.2 million endowment.

Although Harvard's applicant pool increased byover 1,300 people after the University expandedits financial aid program, Brown officials saythey do not necessarily expect an increase inapplications to follow the recent aid increase.

"I'd like to think our applicant pool will stayas strong as it has in the past," Bartini said.

Currently, 37 percent of Brown undergraduatesreceive scholarships, according to theuniversity's Web page