Williams Eliminates Student Loans, Offers Grants

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WILLIAMSTOWN - Beginning in the 2008-2009 school year, Williams College will eliminate student loans from financial aid packages, replacing them with institution-based grants. On Thursday, President Morton O. Shapiro released a statement to the college community informing them of the new policy. "This move is the latest in a series of steps the college has taken in recent years to ensure that a Williams education is affordable, and it is based on our growing sense that loans, even small ones, affect a range of student decisions, from which colleges they consider attending to which post-college careers they pursue," Shapiro said in the correspondence. The estimated cost to the college following the shift is $1.8 million. According to college spokesman James Kolesar, the change was made possible because of Williams' sound financial judgment. "We've been good stewards of our financial resources, which are considerable. With good investment and good spending over time, as well as generous alumni, we're able to offer this to our students," Kolesar said. The private college, ranked one of the top liberal arts schools in the nation, has an endowment of nearly $2 billion. Tuition and room and board at the four-year school runs about $45,000. The news comes following other Williams initiatives to reduce the amount of loans utilized by financial aid students. According to Shapiro's statement, in the past, students were borrowing $3,800, $7,800, or $13,800 over their four years. Students from low-income families were not expected to borrow anything. The change to grants eliminates all debt for all students. "We consider the estimated cost of this change to be a sound investment of college resources in the growing diversity of our student body and in the future of our financial aid students, who now will be free to make postgraduation plans without the inhibition of college debt," said Shapiro.
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Williamstown Board Opts to Negotiate with College on Water St. Lot

By Stephen DravisiBerkshires Staff

Newly elected board member Nate Budington, far left, participates in his first in-person meeting along with, from left, Matt Neely, Stephanie Boyd, Peter Beck, Shana Dixon and Town Manager Robert Menicocci.
WILLIAMSTOWN, Mass. — The Select Board on Monday decided to enter into negotiations with Williams College on the sale of the vacant town-owned lot at 59 Water St.
 
But the board members made it clear that the college's proposal to acquire the lot is a starting point, not a final deal that the elected officials would accept.
 
"For the sake of continued conversation, I'm in favor of [awarding Williams the site], but if this process wasn't continued with the opportunity for further negotiation, I wouldn't vote to continue this," Peter Beck said. "I think that next step is necessary for us to get to a yes on this."
 
"I think there's wide agreement on that," Matthew Neely said just before the 5-0 vote to enter talks with the college.
 
Williams was the sole respondent to a town-issued request for proposals to develop the former town garage site, currently a dirt lot.
 
The college's stated intent is to build a new Facilities office and create up to 170 parking spaces at 59 Water Street. That use will allow the college to redevelop the current Facilities building site and parking lot as part of a reconception of the school's indoor athletic and recreation facilities.
 
Under the terms of the RFP, the college's proposal was subjected to review by an ad hoc advisory committee to the town manager, who brought the question to the Select Board. That board will have the final say on any purchase and sales agreement.
 
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