Brown is getting rid of student loans

The plan will take effect starting in the 2018-2019 academic year

Rejoice, Brunonia! The University officially announced a plan to replace all student loans with grants that do not have to be paid back starting next year.

Brown is launching a fundraising campaign to remove loans from all current and incoming students' financial aid packages. The school plans to raise $120 million to accomplish this goal.

The initiative is a welcome one, after The New York Times revealed the lack of economic diversity of the Brown student body last year.

“We’re committed to making a Brown education accessible to students from all income groups, so we can continue to accept the very best and brightest students from around the world,” Brown President Christina Paxson said in a release.

“When students and their families are sitting at their dining room tables making decisions about where to apply to college, or whether to accept an offer of admission, we want them to know that Brown is an affordable choice.”

Brown University