<p>There are some private schools that have chose to eliminate loans from financial aid, meaning that all aid is in the form of grants, ergo students graduate without any debt. I am looking for schools like this as I plan to go to grad school and don't need any debt. Here are two schools I know have adopted this policy, please share if you know of any and we can add to the list:</p>
<p>Yale
Davidson</p>
<p>(Also, does anyone know if the following schools offer aid without loans: Amherst, Beloit, Vassar, Williams, Middlebury, Haverford, Dartmouth, Kenyon??)</p>
<p>Keep in mind that they don’t include loans as part of their package, but that you may need to take out loans to fill the gap of what you are able to pay and what they expect you to pay.</p>
<p>Right, your family will still be expected to meet its efc plus these schools will also usually include a student contribution of $2000-$3000 per year. No loans does’nt mean full ride.</p>
<p>I should have mentioned that my family income falls well below the line that most schools draw for requiring any family contribution at all, so I will qualify for full financial aid pretty much everywhere I am admitted. I understand that those who do not get full aid must pay the remaining portion, of course. But if they expect my family to pay anything, which is not likely, it will be a very small amount and won’t be enough to put me in debt. </p>
<p>… I go to a boarding school on financial aid, I am an old hack at this And for once it is lucky to have a very small family income.
And thanks for the additions! The list is now
Yale
Davidson
Swarthmore
Rice
Princeton
UPenn
Vanderbilt and GA Tech (under certain circumstances)</p>
<p>So, I am looking for schools not that guarantee a full-ride, but that do not include loans as part of their financial aid. Sorry, I should have mentioned that, in my circumstances, this means graduating without debt in the majority of cases, if not all.</p>
<p>eggrolls – If your family’s EFC will be “0” AND would also be considered “0” at schools that require the CSS PROFILE (or another form that looks at property and assets that FAFSA does not) in order to have all or most of your costs covered you will be looking for meets full need schools that do so without loans as part of the aid package.</p>
<p>All of the schools listed above may do this, but it would be another thing to check out as you are looking at no loan schools. Good luck! :)</p>
<p>I understand no loans for parents when income < 60K but why can’t the student take out up to stafford loan limits (like 5K/yr)? They’ll graduate with the same degree and ability to pay it back as any other student whose family income is 60 to 90K or more. Kinda BS IMO. This is part of the reason college cost go up at 2x the inflation rate for 30 straight years.</p>
<p>FooMonChew: Students at “no loan” schools do still have the option of taking out Stafford loans, it is just that it is not included as part of the financial aid package. Many students and families do take out loans to cover the portion the college has decided they can pay.</p>
<p>I don’t know the institutional policy, but Williams financial aid is fantastic–no loans, we’re paying around $6000 less than all of the other offers I received (including Midd and Wesleyan), and a grant that means financial aid will foot the bill for all required textbooks!</p>
<p>The “no loan” policy means that no loans will be included in the financial aid package to meet the family’s need AS THE SCHOOL DEFINES IT. Yes, it is a great benefit in that the Staffords are available for the kids and the family to use to meet EFC (institutional). It really puts a squeeze on families when the financial aid package already includes the full $5500 in Staffords, sometimes with a Perkins or school loan thrown in there as well. The kid is the “all loaned up” and if there is any amount that the family has to contribute that venue is closed.</p>
<p>I have two in college and they received fin aid packages from 6 different schools with good fin aid (meet 100% and some with no loans as well). For the most part you just can’t tell which is the best until you get the offers. Nothing matters until you get the actual packages.</p>
<p>Davidson - while they are “no loan”, Davidson’s was the worst of the fin aid packages. It wasn’t a bad package, but the others were better for our circumstances.</p>
<p>Dartmouth(*) - The package was very good but not the best. D chose to attend and the fin aid has been better than anticipated. They have very generous treatment of outside scholarship and when additional expenses arose (health insurance) they provided addition aid.</p>
<p>Richmond(*) - They offered the best fin aid package for our circumstances, even though they are not no-loan. They use FAFSA, which is of particular benefit for those with 2 or more in college. They also don’t include home equity as an asset. S attends and got a better package that D at Dartmouth.</p>
<p>(*) Dartmouth and Richmond have made changes to their fin aid with respect to loans since out kids entered.</p>
<p>Again, your particular circumstances can make a big difference in which school’s aid is more attractive, which is why you just have to wait for the acceptances and packages to arrive.</p>
<p>Kdurs11: William College financial aid includes loans to families with income above 60k. The samples in their website is a little deceiving due to the family size used.</p>
And for once it is lucky to have a very small family income.