Thanks to the subprime lending mess, many students are finding it hard to secure loans to pay for college. And for those who do succeed in getting loans, the repayment picture is often ugly. It's not unusual for recent college graduates to have student loan payments that are larger than their rent or mortgage payments.
A few colleges have stepped forward to address this problem by using their endowment dollars to guarantee that all their students will graduate debt free. Starting in 2008, if you attend one of these schools, all your student loans will be replaced with institutional grant dollars: Amherst, Bowdoin, Claremont McKenna, Colby, Columbia, Dartmouth, Davidson, Harvard, Haverford, Pomona, Princeton, Stanford, Swarthmore, Williams or Yale.
photo by Brave Sir Robin / Flickr
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