New policy means Williams College students won’t need loans

Starting this fall, students who receive financial aid won’t have to take out loans to go to Williams College.

Those loans will be replaced with grants – that do not need to be paid back.

The school says Williams is the first college in the country to remove loans and required campus and summer jobs from all financial aid packages.

Right now, about half of students receive financial aid.

The college says this change will cost $6.75 million.