With all the talk about student loan cancellation and free college, some colleges and universities are taking proactive steps to reduce the cost of higher education. If Washington cancels student loans or makes public colleges and universities tuition-free, then borrowers will enjoy an extra benefit. The latest student loan debt statistics show that 45 million borrowers collectively owe $1.7 trillion of student loan debt. With college costs and student loans reaching an all-time high, many colleges have instituted “no student loans” financial aid policies. “No student loans” financial aid packages generally seek to replace student loans with grants or scholarships that do not have to be repaid. “No student loans” doesn’t mean that a college eliminates student loans from financial aid packages. For example, some universities require a minimum student contribution or part-time employment while others require a parental contribution. That minimum student or parental contribution can be met through student loans or parent loans.
Here are 50 colleges that offer “no student loans,” free tuition or reduced tuition financial aid packages for undergraduates. Is this list comprehensive? No, there are many more colleges that offer similar financial aid policies.
Scroll down for more from UB
