Brown University Becomes Latest Ivy League to Offer Free College

Brown University approved yesterday new enhancements to its financial aid program for lower income families. According to its press release, "students from families with incomes of less than $100,000 will no longer have loans as part of their financial aid packages, and most parents who earn less than $60,000 will not be expected to make a financial contribution to fund their child's education." With this announcement, Brown has joined Ivy League brothers Harvard and Yale in offering avenues to free college.

Brown's latest changes will apply both to current students and the new incoming Class of 2012. The new program comes at an estimated cost of $11.5 million, increasing the university's yearly expenditure on financial aid by more than 20 percent.

I would like to reiterate my desire to see this trend continue and look forward to many more announcements of colleges and universities across the nation dipping into their massive endowments to help make higher education more accessible. Kudos to Brown for being one of the newest pioneers in this area.

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