With much focus on Nashville and Commodore football this past week, the Vanderbilt administration has given the public another reason to look to our campus with the announcement of the elimination of need-based loans in undergraduate financial aid packages.

Next semester, the new program will go into effect for seniors so they can benefit from the new program before they graduate. Approximately 400 seniors will benefit from the new financial aid program that will replace all need-based loans with grants, which will cost Vanderbilt around $1 million, according to Christiansen.

"It's just been unreal the positive feedback we've received," said Associate Provost for Enrollment Management and Dean of Admissions Douglas Christiansen. "Congressmen and senators have been commending us on a national level on our continued efforts to give access for all students. I've received hundreds and hundreds of e-mails."

Christiansen said admissions offices from comparable schools have also been giving positive feedback.

"Most of the schools I've spoken with are all thrilled, it's mostly about access and education and less about the competition, although it's competitive, as you know, as well," Christiansen said.

This positivity has echoed across campus, even by those seniors who will remain unaffected by the initiative.

"I think it is a great idea, but I'm upset that it happened our senior year," said senior Christina Puig. "But overall it is a great thing. I am curious in how it will affect everybody else."

"I think it is a great way to encourage students that can't afford college to come to Vanderbilt," said senior LeeAnne Lynch, who will graduate this December. And while she is disappointed she won't get to enjoy the benefits of the new plan, she is happy for the seniors who will.

"It is great because you get to decrease some of your loans," Lynch said.
The new financial aid initiative, which was unveiled on Oct. 1 by a university press release and The Vanderbilt Hustler, will be offering need-based grants in the place of loans to all students starting next year. The initiative will be funded by strategic budget allocations as well as a $100 million fundraising campaign called Shape the Future.

The new program was the culmination of a seven-year initiative to reduce students' education-related debt. This initiative has reduced the average overall indebtedness of graduating seniors by 17 percent, according to the admissions office.