Mo. College Wants to End All Loans to Students

Posted: Mar 16, 2013 6:24 PM by Associated Press
Updated: Mar 16, 2013 7:32 PM

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SPRINGFIELD - An evangelical Christian college located near the southwest Missouri resort town of Branson is making it difficult, if not impossible, for students to obtain any loans.

The Springfield News-Leader says the College of the Ozarks has stopped certifying private student loans. It's barred state and federal loans since the 1990s.

Longtime President Jerry C. Davis says "the driving force behind this is that debt is bad."

Of the school's 1,350 students, 250 to 300 of them currently receive a loan, often from a hometown bank. The college is taking steps to help students adjust. They include expanding summer work opportunities and freezing room-and-board costs.

The college itself is debt free. It makes sure it has cash in hand before doing things like building a residence hall.

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