A Growing Number of Colleges Are Eliminating Student Loans

"The cost of college has nearly tripled over the last four decades, forcing many students and their families to take on student loans when other forms of aid fall short," Bankrate reports.

..."No-loan colleges may seem novel, but they’ve existed since the early 2000s. Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators (NASFAA), says the agency is 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: 10/18/2023

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