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Which colleges have a "no-loan" policy?

valentinocuevasvalentinocuevas Registered User Posts: 272 Junior Member
I think it would be very helpful to compile a list of colleges that have a no-loan policy for those of us that will request financial aid.
Post edited by valentinocuevas on

Replies to: Which colleges have a "no-loan" policy?

  • interesteddadinteresteddad Registered User Posts: 24,177 Senior Member
    Amherst College
    Bowdoin College
    Claremont McKenna College
    Colby College
    Columbia University
    Dartmouth College
    Davidson College
    Harvard University
    Haverford College (First-year students only)
    Pomona College
    Princeton University
    Swarthmore College
    UPenn (starting in 2009)
    Williams College
    Yale University
  • amciwamciw Registered User Posts: 1,755 Senior Member
    Stanford is no-loan, last time I checked.
  • midwesternermidwesterner Registered User Posts: 1,920 Senior Member
    Vanderbilt has a new no-loan policy, beginning with the entry class in 2009.
    Scholarships And Financial Aid | The Vandy Admissions Blog
  • standrewsstandrews Registered User Posts: 1,365 Senior Member
    It is important to remember that no-loan only means the FA packages do not include loans to meet demonstrated need. Loans may very much be necessary to meet the EFC, especially if the school is stingy in determining need.
  • kelsmomkelsmom Super Moderator Posts: 14,523 Super Moderator
    Midwesterner, Vanderbilt's no loan policy will extend to all students, not just incoming freshmen. That's especially good news. AND ... they are readjusting seniors' awards for the spring to allow them a loan-free final term!

    Standrews is correct in noting that no loans means no need based loans. Many families will still choose to borrow in order to meet their EFC, and they have that choice. In fact, it gives them even more leeway to borrow a Stafford loan - which will be unsubsidized. As freshmen, students can borrow up to $5500 in unsub Stafford. This would be on top of the grants & work study awarded by the school. The key with the no loans schools is to make sure they are known for being *fair* in their EFC computation.
  • CrystalJCrystalJ Registered User Posts: 503 Member
  • momofthreeboysmomofthreeboys Registered User Posts: 15,337 Senior Member
    Probably not a good idea to bump this thread, it is three years old and things change.
  • CrystalJCrystalJ Registered User Posts: 503 Member
    That's why I want to bump it, so the changes will be put up.
  • capenn15capenn15 Registered User Posts: 560 Member
    That's why I want to bump it, so the changes will be put up.

    CrystalJ: Then maybe you'll take the time to research the ones already listed and update that at least.
  • CrystalJCrystalJ Registered User Posts: 503 Member
    I meant so more schools would be put up, if there are more schools. I didn't think it would be a problem.
  • sybbie719sybbie719 Super Moderator Posts: 20,823 Super Moderator
    I agree with capenn, that it would be in your best interest to research the schools that are already listed.

    Many of the schools listed either no longer have a no loan policy (williams) or now have income caps with their no loan policies (Dartmouth, Columbia, Penn). It is very unlikely that there are new school with no loan policies when schools have good from being need blind to need aware and schools that once met 100% demonstrated need are no longer doing so.
  • CrystalJCrystalJ Registered User Posts: 503 Member
    Thank you for your response!
This discussion has been closed.