No-Loan Colleges

[sybbie719]

@@BelknapPoint

How does this happen? It’s hard for me to imagine a realistic scenario where the need-based financial aid drops by more than a dollar for every additional dollar earned.

It is just as @3puppies stated: many deep pocket schools may have a two/multi-tier approach to financial aid. It is very easy for a few dollars to move you from one financial aid policy to another.

Example

@Dartmouth Financial aid

FAMILIES WITH INCOME BELOW $100,000
At Dartmouth,** free tuition is provided for students from families with total incomes of $100,000 or less—and possessing typical assets. Loans are not required in their financial aid offer.** Students and parents may decide to take additional loan to help with the calculated family contribution or additional expenses such as health insurance or a computer.

FAMILIES WITH INCOME ABOVE $100,000
There is no income cut off for scholarship consideration at Dartmouth. We take an individual look at all applications, and families earning over $100,000 per year do receive scholarship assistance. Low interest loans are offered to students in this income category. Dartmouth is committed to reducing student debt; however, the total debt our students have at graduation is among the lowest in the country.
How Much Help Will I Get? | Financial Aid

@Stanford Financial Aid

Dartmouth’s tuition is $51k. Imagine the person who makes $100,100 at Dartmouth who will not be eligible for the $51k.

Zero Parent Contribution for Parents with Income Below $65,000
For parents with total annual income below $65,000 and typical assets for this income range, Stanford will not expect a parent contribution toward educational costs. Students will still be expected to contribute toward their own expenses from their summer income, part-time work during the school year, and their own savings.

Tuition Charges Covered for Parents with Income Below $125,000
For parents with total annual income below $125,000 and typical assets for this income range, the expected parent contribution will be low enough to ensure that all tuition charges are covered with need-based scholarship, federal and state grants, and/or outside scholarship funds.

The Parent Contribution : Stanford University

@The Brown Promise

In 2008, Brown began replacing the University-packaged student loan component with additional University Scholarship for families with a total parent income of less than $100,000.** The Brown Promise eliminates the $100,000 total parent income threshold and expands this initiative to aid recipients eligible for University Scholarship. This means that 100% of every student’s demonstrated need is met with an initial package that includes scholarship and work only — no loans.** The following examples demonstrate how the Brown Promise impacts awards at different income levels.

Family #1: Total Income < $100,000

Prior to the Brown Promise, families with a total income of less than $100,000 already received the benefit of not having loans packaged as part of their initial aid package.

Family #2: Total Income = $130,000
Prior to the Brown Promise, families with a total income over $100,000 would have had their demonstrated need met with a combination of loans, work and scholarship. Under the Brown Promise, the $4,000 Student Loan is replaced with additional scholarship and all demonstrated need is met with scholarship and work only.

The Brown Promise | Undergraduate | Financial Aid Undergradute | Brown University