Washington University adopts ‘no-loan’ financial aid policy

As part of its sustained commitment to removing financial barriers for admitted undergraduate students, Washington University in St. Louis has adopted a “no-loan” financial aid policy for all undergraduates effective fall 2024.

So, what does this mean? This means that need-based loans for undergraduate students will be removed from all financial aid packages and replaced with scholarships and university grants, ensuring that all admitted students can obtain a world-class WashU education without going in to debt.

Adoption of our “no-loan” policy for all is our latest step towards expanding financial aid at WashU. This move follows initiatives like our WashU Pledge, which provides a full undergraduate education, including tuition, fees, housing and meals, to students in Missouri and southern Illinois with annual family incomes of $75,000 or less; and our shift to need-blind admissions in 2021, a move made possible by the university’s $1 billion investment in its Gateway to Success initiative.

In short, we’re committed to doing what it takes for our students to receive a WashU education without the burden of student loan debt. To quote our Chancellor, Andrew D. Martin, “No one should have to borrow money to obtain an undergraduate degree, and moving forward here at WashU, they won’t.”