Colleges Replacing Loans with Scholarships and Grants

The average college student is graduating with $20,000 plus in student loans. Some going to expensive or graduate schools can end up $100,000 in debt. With school costs rising every year, the situation has been getting worse.

But now, one by one, schools are beginning to grasp that letting their students graduate and start working life in debt for 10 or 20 years is not exactly a ringing endorsement. Recently, several schools have decided to do something about it and have removed college loans from their financial aid packages and replaced them with either scholarships or grants.

Some have replaced all loans, while others have done it just for the students with the lower family incomes. Below is a list of many of the colleges that have implemented a loan replacement program. For more information, visit the school website or check at College Scholarships, Loans and Grants.

Amherst College, Amherst MA
Columbia University, Manhattan NY
California Institute of Technology, Pasadena CA
Colby College, Waterville ME
Duke University, Durham NC
Harvard University, Cambridge MA
Pomona College, Claremont CA
Princeton University, Princeton NJ
Swarthmore College, Swarthmore PA
University of Maryland, MD
University of North Carolina, NC
University of Virginia, VA
Wesleyan University, Middletown CT
Williams College, Williamstown MA
Yale University, New Haven CT

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