Texas A&M, Boston University, and Vanderbilt University have all recently announced expanded financial aid programs to help lower-and-middle-class students deal with the rising cost of college education and the tough economic situation the country currently faces.
This news comes as many other colleges are announcing budget cuts and tuition hikes in order to break even in the face of declining state funding. Proposed cuts to higher education funding currently range from a one percent cut in Maryland to a reduction of funding by more than 14 percent in Nevada, according to a recent write-up in The Chronicle of Higher Education.
Despite financial concerns, though, more and more schools are digging into their pockets to find additional scholarship and grant money for their students. Texas A&M will provide free tuition to all freshmen with a family income below $60,000 and a GPA above 2.5. Boston University plans to meet all financial need for every Boston public school graduate admitted to the university. Vanderbilt will replace all need-based student loans with grants for its students starting next fall, though it still needs to raise an additional $100 million to fully fund the program.
U.S. News and World Report provides more information on these new financial aid programs. You can find out more about these and other generous institutions by conducting a college search on Scholarships.com.
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