"To ease the financial burden on families and students, a small number of U.S. colleges have instituted "no-loan" policies, eliminating federal loans from financial aid packages in lieu of scholarships, grants and work-study," U.S. News & World Report writes.

... "Even at a no-loans institution, some families and students may still need to borrow money to cover college costs. Because many of these institutions don't participate in the federal student loan program, students who borrow typically use a private lender. Students and parents should be aware of the differences between private and federal student loans."

"'Some families end up being surprised and had expected more grant assistance because their personal level of need is higher than what comes out in the CSS Profile, for example,' says Karen McCarthy, vice president of public policy and federal relations at the National Association of Student Financial Aid Administrators. 'Take a look at how your school is assessing what that level of need is. If it is through a CSS Profile, then make sure you're familiar with what the CSS results show so you know what to expect.'"

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: 9/24/2024