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Brown Goes No-Loan

What an astounding event: a school announces a funding goal, fulfills it in short order, and all of the benefits flow directly to its students. If you’ve been in Hanover for the last decade or two, you’d never have thought such a thing to be possible.

We noted in a post a while back that Brown had stated on September 25 that it was undertaking fundraising efforts so that no students would graduate with loans. And now, less than three months later, the school has announced that the first part of its campaign has succeeded: no Brown students will have to take out loans in the coming year:

Brown No Loans Comp1.jpg

Not bad for a relatively poor school. Brown’s 9,380 students (6,580 undergraduates and 2,255 postgraduates) are supported by an endowment that reached $3,245,531,000 at the end of fiscal 2017. That’s $346,005/student. Dartmouth, au contraire, only has 6,409 students (4,310 undergraduates and 2,099 postgraduates), but our endowment is much larger: $5,069,578,000. That’s $791,009/student. On a per student basis, we are twice as wealthy as Brown.

In fiscal 2017, Brown drew a total of $164,967,000 from its endowment to support the year’s operations. The College’s draw was $223,545,000. I wonder where the difference of $58,578,000 went.

It seems that we can’t afford to have students come to Hanover without taking out loans, yet Brown can support its students in this way? For shame.

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