The University of Pennsylvania joins Harvard and other colleges in announcing loan-free financial aid packages

The University of Pennsylvania http://www.upenn.edu/ on Monday joined Harvard http://www.harvard.edu/ and other elite private colleges in announcing loan-free financial aid packages aimed at middle- and upper-middle-class students.

All financially eligible undergraduates will receive grants instead of loans beginning in fall 2009, Penn officials said.

By KATHY MATHESON, Associated Press Writer

Full Story: http://www.sfgate.com/cgi-bin/article.cgi?file=/n/a/2007/12/17/national/a091237S19.DTL