No-Loan Schools: What Are They and How to Apply

"The cost of college has nearly tripled over the last four decades. According to the National Center for Education Statistics, tuition at four-year institutions went from roughly $5,000 a year in 1980-81 to over $16,000 a year in 2020-21. Now, record-high inflation coupled with a looming recession are bound to make college even more expensive," Bankrate reports

... "No-loan colleges may seem like a novel idea, but they’ve been around since the early 2000s. Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators (NASFAA), says that the agency is actually keeping close tabs on these institutions, as they may become more mainstream in the coming years."

“'Several schools that have ‘no-loan’ policies — particularly those with large endowments — have been rethinking their strategies and increasing their aid packages to allow students to focus solely on being students,' Draeger says. 'I suspect more schools with large endowments will be reexamining their financial aid levels coming out of the pandemic,' he adds."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 11/21/2022

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