Starting in fall 2024, the private university in St. Louis will replace those loans with scholarships and university grant funds in the financial aid it gives to students.
“We want Washington University to be an option for any talented student regardless of their background, and we do not want finances to be a barrier,” said Ronné Turner, Wash U’s vice provost for admissions and financial aid.
The university already has a similar “no-loan” program for students whose families make less than $75,000 annually, and now Wash U is extending it to all undergraduates who receive a financial aid package, Turner said. It’s significant for students from moderate-income families, she added.
“They shy away from going to institutions where their students have to take out loans,” Turner said. “This new program, being no-loan, will make Wash U more accessible to students.”
She adds it means all undergraduates receiving financial aid from the university will be able to graduate without debt. And that, Turner explained, will help enrich the university’s campus experience by making the school more accessible to people from many backgrounds.