and an academic exchange program. On February 28, 1997, Bowdoin's Board of Trustees approved a plan to phase out fraternities on campus, replacing them with a system of college-owned social houses.
=== 21st century ===
On January 18, 2008, Bowdoin announced that it would eliminate loans for all students receiving financial aid, replacing those loans with grants beginning with the 2008–2009 academic year. President Barry Mills stated, "Some see a calling in such vital but often low-paying fields such as teaching or social work. With significant debt at graduation, some students will undoubtedly be forced to make career or education choices not based on their talents, interests, and promise in a particular field but rather on their capacity to repay student loans. As an institution devoted to the common good, Bowdoin must consider the fairness of such a result."
In February 2009, following a $10 million donation by Subway co-founder and alumnus Peter Buck, class of 1952, the college completed a $250 million …
