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 Planning Board Narrowing in on Subdivision Bylaw Changes
By Stephen DravisiBerkshires Staff
WILLIAMSTOWN, Mass. — The Planning Board late last month discussed specific features of what it plans to pass as a new subdivision control bylaw this year.
The board long has discussed the complex set of regulations as being out of date and cumbersome to both potential developers and the board itself, which has needed to hear requests for waivers of outdated rules for the handful of residential subdivisions that have been proposed in town in recent years.
This spring, the town engaged consultants from Northampton's Dodson and Flinker Landscape Architecture and Planning to go through the existing bylaw, compare it to more contemporary regulations in other communities and help craft a revised bylaw.
Unlike the zoning bylaw, where amendments require approval of town meeting, the subdivision control bylaw is a creation of the Planning Board, which can make changes on its own after a public hearing process it hopes to complete this year.
At a special Planning Board meeting on May 26, Dillon Sussman of Dodson and Flinker and his colleagues walked the board through a dozen different decision points that the board must resolve — either by leaving the bylaw as is or making a change — and offered suggestions based on best practices.
All of the issues are technical and ranged from the fundamental, like how the bylaw will define types of subdivisions, to the highly specific, like what turning radii will be required in new streets that are constructed to serve planned developments.
One example of a topic that came up in the recent approval of a four-home subdivision off Summer Street is stormwater management.
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