Swarthmore and Pomona eliminate loans

The good news just keeps coming this week in the world of financial aid at the selective colleges. Swarthmore College and Pomona College have each announced that they are eliminating loans from their financial aid packages. Hopefully this trend among the colleges with significant endowments to cap or eliminate loans continues. This may result in some trickle down effect so that colleges with less substantial endowments can find creative new ways to also limit the loans to their students.

Congratulations to Swarthmore and Pomona.