Wesleyan University replaces loans with grants for neediest students

As expected, Wesleyan University has announced that they will replace loans with grants for most students with family income of $40,000 or less. And Colby College, located in Maine, has announced that they will replace loans with grants for students who are from Maine. Typically, about 10 to 12 percent of incoming students are from Maine. While the action of Colby only benefits those students from Maine it is still a step in the right direction or reducing, or as some schools have done, eliminating college loans altogether.