No-loan schools
No-loan schools
These 26 schools promise to meet 100% of demonstrated need without including loans as part of the aid package—theoretically anyone who is admitted to these schools can afford to attend. For lower- and middle-income families, the net cost to attend these schools may be less than the cost of an in-state, public university. However, some students at these schools do borrow money.
Each school has its own formulas for determining need. Before applying to any college or university, use that school's net price calculator, provide accurate financial information, and review the results carefully. When applying to these schools, be sure to apply for financial aid.
Each school on this list is ranked highly by U.S. News and other organizations. Each has highly competitive admissions, meaning they accept a low percentage of applicants. The 26 no-loan schools are listed below in alphabetical order.
School | Location | Number of full-time undergraduates | Average net price | Percent of applicants accepted |
|---|---|---|---|---|
Amherst College | Amherst, MA | 1,971 | $18,809 | 9% |
Berea College | Berea, KY | 1,468 | $3,354 | 30% |
Bowdoin College | Brunswick, ME | 1,951 | $26,727 | 9% |
Brown University | Providence, RI | 7,349 | $25,028 | 6% |
Colby College | Waterville, ME | 2,262 | $17,912 | 9% |
College of the Ozarks | Point Lookout, MO | 1,479 | $12,611 | 21% |
Columbia University | New York, NY | 8,832 | $12,411 | 4% |
Dartmouth University | Hanover, NH | 4,556 | $24,078 | 6% |
Davidson College | Davidson, NC | 1,973 | $25,794 | 18% |
Emory University | Atlanta, GA | 7,130 | $28,367 | 13% |
Grinnell University | Grinnell, IA | 1,748 | $37,423 | 11% |
Harvard University | Cambridge, MA | 9,579 | $13,910 | 4% |
Johns Hopkins University | Baltimore, MD | 6,132 | $20,680 | 8% |
Massachusetts Institute of Technology (MIT) | Cambridge, MA | 4,638 | $30,958 | 4% |
Northwestern University | Evanston, IL | 8,847 | $29,999 | 7% |
Pomona College | Claremont, CA | 1,764 | $17,000 | 7% |
Princeton University | Princeton, NJ | 5,321 | $20,908 | 4% |
Rice University | Houston, TX | 4,247 | $18,521 | 9% |
Stanford University | Stanford, CA | 7,645 | $14,402 | 4% |
Swarthmore College | Swarthmore, PA | 1,651 | $19,733 | 9% |
University of Chicago | Chicago, IL | 7,636 | $33,727 | 6% |
University of Pennsylvania | Philadelphia, PA | 11,292 | $14,578 | 6% |
Vanderbilt University | Nashville, TN | 7,111 | $27,553 | 7% |
Washington & Lee | Lexington, VA | 1,857 | $26,063 | 19% |
Williams College | Williamstown, MA | 2,174 | $14,487 | 13% |
Yale University | New Haven, CT | 6,536 | $20,605 | 5% |
No-loan schools, with limits
The colleges and universities on this list meet 100% of demonstrated need without loans, up to certain income and asset limits. Some students attending these schools do take out loans.
Each school has their own formulas for determining need. Before applying to any college or university, use that school's net price calculator, provide accurate data, and review the results carefully. When applying for these schools, be sure to apply for financial aid.
The schools on this list tend to be ranked highly by U.S. News and other organizations. Their admissions are all highly competitive, meaning that relatively few students are admitted. Ten schools offering no-loan financial aid, with limits, are listed below in alphabetical order.
School | Location | Number of full-time undergraduates | Average net price | Percent of applicants accepted | No-loan income limit |
|---|---|---|---|---|---|
Colgate | Hamilton, NY | 3,164 | $24,500 | 17% | $175,000 |
Cornell University | Ithaca, NY | 15,503 | $24,262 | 9% | $60,000 |
Duke University | Durham, NC | 6,833 | $27,945 | 6% | $40,000 |
Haverford College | Haverford, PA | 1,420 | $24,462 | 18% | $60,000 |
Lafayette College | Easton, PA | 2,725 | $38,754 | 31% | $150,000 |
Tufts | Medford, MA | 6,676 | $31,630 | 11% | $60,000 |
Vassar College | Poughkeepsie, NY | 2,516 | $27,249 | 20% | "low income" |
Washington University St. Louis (WUSTL) | St. Louis, MO | 8,034 | $28,298 | 13% | $75,000 |
Wellesley College (women's) | Wellesley, MA | 2,461 | $21,862 | 16% | $100,000 |
Wesleyan University | Middletown, CT | 3,385 | $20,535 | 19% | $120,000 |