Berea College eliminates student loans by covering all costs
Berea College announced it will eliminate student loans by covering housing, meals and fees in addition to its long-standing free tuition, starting fall 2027, making it the first U.S. college to offer a fully funded, no-loan four-year degree for all students. The program will be financed from the college's roughly $1.83 billion endowment, federal and state grants, and student scholarships, and the institution estimates it will spend about $285,000 every four years on the Financial Freedom Pledge. Berea enrolls about 1,400 students who all live on campus and work 10 to 15 hours weekly; seniors graduating before 2027 will receive some loan forgiveness or fee payments.
Berea will fund housing, meals and fees starting fall 2027.
Context
Berea has provided free tuition since 1892 and students work on campus for class access. The college now plans to add housing, meals and fees coverage starting fall 2027, and some current seniors will have loans or fees forgiven.
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