While many schools do include loans as a means of paying for their programs, there are also no loan colleges out there that meet 100% financial need entirely student loan-free.
Financial need is the difference between the expected family contribution (EFC) calculation on your student’s Free Application for Federal Student Aid (FAFSA) and the cost of attendance.
No loan schools only offer grants, scholarships, and work-study opportunities to cover the costs. Further, some only function as no loan colleges for lower income household.
No loan colleges can provide equal access to a high-quality education, bridging the gap between students that come from low- and high-income households.
Most of the time, they are predominately supported by endowments. Endowments are a combination of donations and investment assets that help the school generate income.