I got almost my entire freshman year paid for in grants and much of my second year. The third year was like 2/3 loans and yeah it is a bitch to pay them off BUT three things there

1) It's a LOAN; what did you think, it was a pay-back-at-your-leisure-or-not-at-all kind of deal? obviously not; although most of the people to whom I loan money seem to view it that way!

2) Dean didnt say he was gonna hand everyone the 10K, I'll wager that it's largely loans since it says combo of grants and loans.

3) There are SO many ways to pay for college; especially if you actually need the money. I was lucky enough to be able to be lazy and just fill out FAFSA and fin aid forms, but I could have applied for a ton of grants and scholarships as well as gone to a school where they would have offered me a full ride (incidentally I was offered one at Pace but opted not not to go to stay closer to home and for other reasons). These are available in larger numbers to minority applicants but far from solely since fraternities, businesses and a number of other organizations offer them.

Most of the people I know who legitimately stopped going to school because of lack of funds were people who got too limited support from their parents who made more than enough money to send them (selfish assholes). State loans and grants cover living expenses too, every quarter I got a check for 2-3K to cover my rent and other bullshit in addition to paying all my university fees.