HomeFinance NewsPersonal financeEducational Revolution: Colleges Ban Candy-Like Loan Deals, Empowering Students with Debt-Free Futures

Educational Revolution: Colleges Ban Candy-Like Loan Deals, Empowering Students with Debt-Free Futures

  • ORIGINAL NEWS

A growing number of colleges are rolling out ‘no-loan’ policies. ‘They are giving them out like candy,’ Yale professor says


  • SUMMARY

To combat the college affordability crisis, several schools are implementing “no-loan” policies.

These policies eliminate student loans from financial aid packages, allowing students to graduate without debt.

Princeton University led the way, inspiring other top universities with large endowments to follow suit.

Currently, 23 colleges on Princeton Review’s list offer no-loan policies, meeting 100% of students’ financial needs with grants.

These policies address a major concern for students and families, reducing the burden of student debt and making higher education more accessible.

Additionally, they attract more applicants, boosting colleges’ enrollment rates.

While no-loan policies eliminate loans, students may still be responsible for other costs such as family contributions, books, and fees.

Some schools may also require work-study programs.


  • NEWS SENTIMENT CHECK
  • Overall sentiment: positive
  • Positive



    “Roughly two dozen colleges and universities now have “no-loan” policies, which means they will meet 100% of an undergraduate’s need for financial aid with grants rather than student loans.”

    “Among the schools on The Princeton Review’s “The Best 389 Colleges” list, 23 promise to meet 100% of their undergraduates’ financial need without loans.”

    Negative



    “Barring a $1 billion donation or broad-based┬ástudent loan forgiveness, college is becoming a path for only those with the┬ámeans to pay for it, many reports now show.”

    “The higher educational system is under stress”

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