<p>The Georgetown Scholarship Program doesn’t even completely get rid of the loans, at least not for some (me!). My understanding is that it replaces the Stafford loan with grants entirely for the first year, then partially for the remaining three years (less each year). It helps, but unfortunately definitely does not get rid of loans entirely. For me, it means I will graduate with about 20% less debt, which is nice, but the total debt I will have is still tens of thousands. Oh and I have no clue how students are selected for GSP either.</p>
<p>I’ve heard that Georgetown is working on its financial aid, but I think it will be at least a few years before it attempts any sort of no-loans initiative.</p>