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The Rise of Loan-Free Colleges Posted on:Thursday, September 20th, 2012


Over the years I have been graced with visits by returning students who proudly boast their academic successes since graduating from high school.  I was recently visited by one student who is now in her second-year at Massachusetts Institute of Technology (MIT).  She is studying bio-chemical engineering and will attain a Bachelor’s of Science degree in 2015 completely DEBT-FREE!

Anita pursued her education at one of many colleges that subscribe to a reduced or completely loan-free policy for low-income students.

Did you know that there are a number of colleges out there that admit low-income students without any expected burden of debt? These are “tuition free” programs especially designed for low income students. Fear of debt and taking out loans, inhibits many low-income students from applying to college.  As a result many schools have eliminated loans from their financial aid packages for low-income students, replacing them with generous grant and work-study aid.  Of course students must still meet the full criteria for acceptance including GPA, SAT, and other requirements. When narrowing your college selection, it is highly recommended to consider one of the following schools, which have made it possible for low-incomes students to obtain their education without having to take out any loans:

Amherst College Colorado State University Kenyon College Rice University University of Maryland
Appalachian State University Columbia University Lafayette College Sacred Heart University University of Michigan Ann Arbor
Arizona State University Connecticut College Lamar University South Texas University University of North Carolina at Chapel Hill
Boston University Cornell University Lehigh University Swarthmore College University of Pennsylvania
Bowdoin College Dartmouth College Oberlin College Texas A&M University of Tennessee
Brown University Davidson College MIT Texas State University University of Toledo
Bryan College Duke University Miami University Tufts University University of Vermont
Caltech Emory University Michigan State University University of Arizona University of Washington
Claremont McKenna College Fairfield University Northern Illinois University University of Chichago Vanderbilt Universtiy
Colby College Harvard University Northwestern University University of Florida Vassar College
College of Holy Cross Haverford College Pomona College University of Illinois at Urbana-Champ Wesleyan University
College of William & Mary Indiana University Bloomington Princeton University University of Louisville Yale University

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