- Student loans will be replaced with grants in cases of need-based financial aid.
- Students applying for financial aid will automatically have the application fee waived.
- The CSS/Financial Aid Profile will be eliminated as part of the application process for financial aid.
The changes, to be put into effect over five years, will carry significant costs. As part of a coming fund-raising campaign, the university plans to raise $150-million to $200-million for financial aid.