"Tufts University unveiled a new program that will, beginning next year, allow any student or alumnus who has educational loan debt incurred while in a degree program at Tufts and works for a nonprofit group or government agency to apply for grants to help them repay their loans," Inside Higher Ed reports. "The program will be financed with $500,000 a year from the Omidyar-Tufts Microfinance Fund, which was created last year with a $100 million gift from the founder of eBay, Pierre Omidyar, and his wife, Pamela. About half of current Tufts students borrow money to attend the university, and their average debt is $14,400 in federal and private loans, according to the university, somewhat below the national average of about $19,000. But with the university's annual cost of attendance now running at $46,640, some students borrow more."

You can read the complete April 23, 2008 Inside Higher Ed article on-line.

Other Media Coverage

• Tufts Offers Loan Relief to Public-Service-Minded Students and Alumni (The Chronicle of Higher Education)