Following a successful fundraising campaign and a growing endowment, Brown University says it's "significantly" expanding its financial aid for moderate-income students.
Nick Dentamaro/Brown UniversityAs part of the expansion, the university plans to fully cover tuition for families earning $125,000 or less and to fully cover tuition plus all other expenses— tuition, room, board and books — to students from families making less than $60,000 a year.
Additionally, the university will reduce the summer earnings expectation for high-need students; move toward need-blind admissions for international students; and develop a college-preparation program for talented public school students in Providence, Rhode Island, where Brown is located.
“The University has an enduring commitment to ensuring that talented young people can afford to come to Brown, regardless of their socioeconomic background,” said Dr. Christina H. Paxson, Brown's president. “We are fortunate that strong financials provide us with a rare opportunity to make new investments in cultivating the next generation of leaders.”
The school estimates that, when fully implemented, the expansion will add $25 million to its current undergraduate financial aid budget, which was at $153.7 million in the 2020-21 academic year.