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: