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Largely as a result of the wealth gap, women tend to be more financially vulnerable than their male counterparts.
Even a small cash reserve can provide security, according to writer Paulette Perhach, who coined it a “f— off fund.”
Here’s how to build your own.

There’s a wealth gap between women and men that has been stubbornly hard to shake.
Gender pay gaps have persisted despite women’s increasing levels of education and representation in senior leadership positions at work. Women are still more likely to take time out of the labor force or reduce the number of hours worked because of caretaking responsibilities, often referred to as the “motherhood penalty.” 

That contributes to a growing wealth discrepancy, which is difficult to escape, according to Stacy Francis, a certified financial planner and president and CEO of Francis Financial in New York.

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Here’s a look at more coverage in CNBC’s Women & Wealth special report, where we explore ways women can increase income, save and make the most of opportunities.

Largely as a result of the wealth gap, women tend to be more financially vulnerable than their male counterparts. Regardless of their household income, 93% of women feel stress when it comes to money, according to a new report by Fidelity Investments.
Other reports show that many American women stay in marriages that are unhealthy and even border on dysfunctional due to financial insecurity.
Even in the healthiest relationships, women are likely to outlive men, Francis says, which is why she advises her female clients to consider that at some point, “They are going to be on their own.”
“Most all of us are going to be in the driver’s seat of our finances alone in the car at some point,” said Francis, who is also a member of the CNBC Financial Advisor Council.

While the benefits of saving are clear, for women, the ability to be independent is particularly powerful.

The benefit of a ‘f— off’ fund

In a viral 2016 Billfold piece, writer Paulette Perhach outlined the security that even a small cash reserve can provide. She recommended building up some savings that could be tapped even in a non-emergency and coined it a “f— off fund.”
“Whether the system protects you or fails you, you will be able to take care of yourself,” Perhach told CNBC. “It’s about creating options.”
In fact, financial stress levels drastically decrease with each additional month of emergency savings set aside, according to Fidelity. Roughly 81% of women with no emergency savings felt a fair amount or a lot of stress. Once women have three months’ worth of emergency savings, only 26% report high stress levels, Fidelity found.

How to build a cash reserve

Most financial experts recommend having at least three to six months’ worth of expenses set aside, or more if you are the sole breadwinner in your family or in business for yourself.
To get there, “start with baby steps,” Francis said.
“The best thing you can do is make room in your budget to have that money go toward your emergency fund in a consistent and sustainable way, so you don’t find yourself strapped,” Francis said.
Lorna Kapusta, head of women and engagement at Fidelity, suggests creating a budget with three main ‘buckets.’ The goal is to put 50% of your income toward essential expenses, such as rent, food and utilities, another 15% toward retirement and 5% in an emergency fund, she said. The remaining 30% provides a cushion for a higher cost of living or other discretionary spending areas.
Even if you can’t reach those savings targets at the outset, commit to putting something in a high-yield account, many of which now pay more than 5% — the most savers have been able to earn in nearly two decades — and aim to increase it over time, she advised.
Similarly, contribute enough to your 401(k) to at least get the full employer match. Then, opt to auto escalate your contributions, which will steadily increase the amount you save each year. 

Once an emergency fund is off the ground, most experts recommend meeting with a financial advisor to shore up a long-term strategy. Many employer-sponsored plans now offer counseling or one-on-one coaching. There’s also free help available through the National Foundation for Credit Counseling.   
“One of the things that I talk to my clients about is the importance of establishing a personal financial plan,” said Judith Lee, senior vice president and wealth management advisor at Merrill Lynch. “Having a plan gives them a roadmap in terms of where they are right now and their individual goals.”
Ultimately, that money roadmap is key to feeling empowered, she added. “The specific choices one makes about savings and spending has an impact,” Lee said. “The discipline it takes to save is an acknowledgement to ourselves that we are worth the sacrifice.”
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Half of women said they were reluctant to talk about money because they consider it a private topic, compared to 41% of men, according a new survey from Wells Fargo.
The only money topic women were less reluctant than men to talk about is how much they earn.

Talking about personal finances is harder than talking about religion, politics or death — and almost as hard to talk about as sex, a new survey finds. And women are more likely than men to find talking about money difficult.
Half of women said they were reluctant to talk about money because they consider it a private topic, compared to 41% of men, according to the survey, from Wells Fargo in partnership with Versta Research. Feeling judged was another top-cited reason, for 35% of women and 31% of men. 

The only money topic women were less reluctant than men to talk about is how much they earn, the survey found. Men were more open to talking about their savings, debt, specific investments, spending habits and money mistakes, among other topics.
Wells Fargo polled 3,403 U.S. adults and 203 teens between September 5 and October 3, 2023.

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Why personal finance is a taboo topic

Asked to rank conversations on their difficulty, 60% of respondents said it was difficult to talk about sex, while 57% said personal finance was difficult to discuss. To compare, 40% said it was difficult to talk about politics, 29% religion, and 28%, their personal health.
When asked directly about the difficulty of talking about sex compared to finances, 47% said having an open and honest conversation about their money is more challenging than discussing their romantic life. Privacy, not wanting others to know how much or how little they have and feeling judged were top reasons people cited holding them back from talking about their money. 
“When you think of money taboos and this idea that talking about money and talking about sex are actually almost the equivalent in their difficulty, it really just highlights the taboos that sometimes hold us back,” said Michael Liersch, head of advice and planning for Wells Fargo. 

“We really need to ask ourselves, what’s holding us back from getting the information we need to be successful on our own terms,” said Liersch.
The survey also found generational differences in how women feel about money discussions. More than half, 53%, of Gen Z women ages 14 to 26 said feeling judged made them avoid talking about money, versus 35% of women across all generations.
“Women are often penalized for traits their male counterparts receive applause for,” said Lindsay Bryan-Podvin, a financial therapist based in Ann Arbor, Michigan. “When it comes to money, we are fearful that if we advocate for ourselves, such as asking for a raise or negotiating down a too-high car insurance payment, we’ll be met with hostility.”

‘There really are no stupid questions’

John Howard | The Image Bank | Getty Images

To help boost our comfort level with talking about money, experts say, consider how conversations are framed. That can help you reduce feelings of judgment, or that your ideas are wrong.  
“People feel like they’re stupid questions, but there really are no stupid questions when it comes to [finances],” said Liersch, who holds a Ph.D. in behavioral science.
Although talking about money with friends and family can be challenging, look for ways to naturally weave it into the conversation, said Bryan-Podvin, who is the founder of Mind Money Balance.
“Most people crave having someone to talk about money with but are wary of bringing it up,” she said.
“Try, ‘I’ve got my performance review coming up. Any tips on making sure I get my full merit-based raise?’ or ‘I saw you went to the Bahamas recently! It looked so fun! How did you save up for it?'”
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A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme, New York Attorney General Letitia James said.
James’ office said it had secured a court order blocking the grad, Vladimir Artamonov, “from harming investors through his fraudulent scheme.” Artamonov allegedly projected returns of 500% to 1,000% by claiming to learn which investments Berkshire Hathaway planned to make.
James’ office said it learned of the fraud when it was told about an investor who ended his own life after discovering he had lost $100,000 in Artamonov’s alleged scheme.

A general view of the Baker Library/Bloomberg Center on February 17, 2024, at Harvard Business School in Allston, MA. 
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A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme he ran, New York Attorney General Letitia James said Thursday.
James’ office said it had secured a court order blocking the grad, Vladimir Artamonov, “from harming investors through his fraudulent scheme,” which allegedly projected returns of 500% to 1,000% by claiming to learn which investments Berkshire Hathaway planned to make.

The order in Manhattan Supreme Court also bars Artamonov from withdrawing and transferring funds in his bank and brokerage accounts.
Artamonov allegedly lured at least 29 investors into the scheme, most of whom he met through his connections to the elite college, the attorney general said.
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James’ office said Artamonov lost millions of dollars in investors’ funds by buying short-term options but did not disclose his losses, instead using new money invested with him to repay existing investors.
“Artamonov also used his investors’ money to fund unauthorized personal expenses for vacations, shopping, and dining,” the office said.

James’ office said it learned of the fraud when it was told about an investor who ended his own life after discovering he had lost $100,000 in Artamonov’s alleged scheme.
Even after the man’s suicide, Artamonov continued soliciting new investors, lying to them about the fund’s strategy and performance, James’ office said in a statement.
“Even sophisticated investors can be conned by fraudsters, especially when personal relationships and networks are used to build a false sense of trust,” James said.
“Vladimir Artamonov used his alumnus status from Harvard Business School to prey on his classmates and others while seeming legitimate and dependable. Instead, he has been scamming people out of their investments, with horrific consequences.”
Artamonov did not immediately respond to requests for comment.
Mark Cautela, head of communications at Harvard Business School, told CNBC in an email: “We just found out about this earlier today. We have no additional comment.”

Artamonov, who James’ office said graduated from the business school in 2003 with a master’s degree, previously worked in New York as a securities professional.
James’ office said that from September 2021 up to the present, he solicited at least $2.9 million from at least 29 investors for an investment fund dubbed “Project Information Arbitrage” or the “Artamonov Fund.”
“Artamonov identified many of his investors through the HBS alumni network,” the AG’s office said. “Many of his investors did not have a close personal relationship with him and only knew him as an acquaintance.”
The office said “Artamonov lured clients by claiming that he could learn which investments Berkshire Hathaway would make ahead of the market by examining public state insurance filings.”
“Artamonov boasted to his investors that it is like ‘having a private time machine’ and ‘getting tomorrow’s newspaper today,'” as he projected massive investment returns, James’ office said.
But in reality, the office said, Artamonov used the investors’ funds to purchase short-term options which expired within days of purchase “and appeared to have no relation to Berkshire Hathaway or its investment activities.” More

Nearly a third, 31%, of homebuyers and sellers negotiated with their agents and a majority of those, 64%, successfully reduced their fees, according to a new report by LendingTree.
Many buyers and sellers are unaware they have this option, as real estate agent costs are often “not at the forefront” of their minds, said Jacob Channel, a senior economist at LendingTree.
Here’s how real estate agents help you in the housing market and how to negotiate with them.

Fuse | Corbis | Getty Images

When you buy or sell a home, your real estate agent’s commissions can trim thousands of dollars off the sale price — but many consumers don’t realize you can negotiate those terms.
Nearly a third, 31%, of homebuyers and sellers negotiated commissions with their agents, according to a new report by LendingTree. A majority of those, 64%, successfully reduced the fees. LendingTree polled 2,034 U.S. adults in mid-January.

About 36% of homebuyers and sellers say they didn’t know they could negotiate a real estate agent’s commission.
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That’s understandable: When buyers are budgeting costs for a new property, they often focus on the bigger things, like the down payment and the mortgage, said Jacob Channel, a senior economist at LendingTree.
“Real estate commission fees are one of the sort of less glamorous or less talked out parts of the homebuying process,” said Channel.
“Thoughts like how much a real estate agent’s going to get paid or who pays the real estate agent probably aren’t at the forefront of your mind,” he said.

How real estate agent commissions work

In 2023, the average commission was 5.37%, LendingTree found. Rates typically range from 5% to 6%, translating to thousands of dollars and the earnings are usually split evenly between the buyer and seller agents involved with the transaction. The seller typically pays those commissions at closing.
The median home sale price by the end of 2023 was $417,700, according to the Federal Reserve. That would mean commissions at a 5.37% rate amount to $22,430.49.
Yet 48% of homebuyers and sellers didn’t know how much their agent received in commission for their latest home transaction, according to LendingTree.
“The homebuying and selling experience can be so overwhelming,” said Channel. “Unless you’re paying close attention, it’s kind of hard to come up with an itemized list of what exactly you spent and where exactly you spent it.”

Some home sellers avoid these fees entirely by selling the home on their own. So-called for sale by owner homes represented 10% of home sales in 2021, according to the National Association of Realtors.
Technology has made it easier for Americans to buy and sell properties on their own through online marketplaces. But they may end up putting in more time and energy than they initially anticipate or make the process even more complicated, Channel said.
“[Real estate agents] are doing a lot of work behind the scenes that isn’t necessarily [or] immediately apparent to sellers and buyers,” he said.
Agents are often familiar with local housing market trends, know how to sell a property for a higher price and are familiar with the necessary paperwork involved in the transaction, said Channel.
“All housing markets have their own individual quirks,” he said. “If you’re a seller and you try to do it on your own, you might miss something or … not position yourself in a particularly strong way to get a good deal to sell your house for as much as you could.”

How to negotiate real estate agent fees

While real estate agents must be upfront with their fees, buyers and sellers should make sure to ask questions about what they are charging and why. An agent’s rate often depends on factors like the property type and how easily they think it will sell.
Keep in mind that agents’ “livelihoods depend on the commission fees that they make,” said Channel.
If you find an agent you like but worry about the cost, see if you can come to an agreement or reach a discount. You may have more leverage to negotiate if your home is desirable, has a high value or if your local market is hot.
Look into different agents in your area and compare their fees. So-called low-commission agents may offer fewer services, but charge commissions as low as 1% to 1.5%. Others work on a flat-fee basis.
If you’re working with a dual agent, or a real estate agent who’s representing both the buyer and seller, you might point out to them that they don’t have to split the commission with anyone. Even with a slightly lower rate, they’re more likely to take home more money if they had split 5% with a second agent, said Channel.

Antitrust lawsuit may have ripple effect on fees

As of now, the home seller is responsible for paying both their agent and the buyer’s. But that could change if a lawsuit stands.
In an antitrust lawsuit last fall, a federal jury found the NAR and several large real estate brokerages had conspired to artificially inflate agent commissions. As a result, the NAR, Keller Williams and HomeServices of America are liable for nearly $1.8 billion in damages. Re/Max and Anywhere Real Estate settled before the trial, each paying damages.
“Last month, NAR filed motions asking the Court to set aside the trial verdict and enter judgment as a matter of law in favor of NAR or, at the very least, order a new trial. These motions are part of the post-trial process, and we expect rulings on them in due course,” a spokesperson from NAR told CNBC in a statement.

A spokesperson on behalf of HomeServices of America declined to comment.  
Keller Williams settled for $70 million in early February.
If the verdict stands, it could mean that a home seller won’t be required to pay the buyer’s agent, experts say. More buyers may bypass agents, or try to negotiate fees.
“Hopefully, this will give us even more transparency,” said Channel. “This goes to show … why it’s so important to pay attention to all the costs when you go to buy or sell a home.”
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The IRS on Thursday unveiled plans to target wealthy “non-filers” with a new round of compliance letters.
Non-filers making between $400,000 and more than $1 million with unfiled federal returns from tax years 2017 to 2021 will receive the initial round of letters.
The agency urges recipients to take “immediate action” to avoid more letters, higher penalties and “stronger enforcement measures.”

IRS Commissioner Daniel Werfel speaks during an IRS event in McLean, Virginia, on Aug. 2, 2023.
Alex Wong | Getty Images

The IRS has unveiled plans to target “non-filers” with a new round of letters, starting with high-income taxpayers who haven’t filed federal returns since 2017.
Starting this week, the agency will send letters to wealthy non-filers, with the first batch going to those earning $400,000 to more than $1 million.

Formerly known as CP-59 notices, the letters will go to between 20,000 and 40,000 non-filers per week, according to plans announced Thursday. The IRS said recipients should take “immediate action” to avoid more letters, higher penalties and “stronger enforcement measures.” Non-filers can learn more about past-due returns here.
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“If someone hasn’t filed a tax return, this is the time to make it right,” IRS Commissioner Danny Werfel told reporters during a press call. Citing staffing issues, he said the non-filer program has only run sporadically since 2016.
The failure-to-file penalty is 5% of the amount owed per month, capped at 25% of the tax bill, according to the IRS. There’s also an interest-based penalty based on the current interest rate.
The agency urges non-filers to work with a tax professional to file past-due returns and calculate taxes owed, penalties and interest.    

‘Historically low audit rates’ for higher earners

The new wave of letters comes amid IRS plans to reverse “historically low audit rates” of large corporations, complex partnerships and higher earners.
The audit rate for taxpayers earning $1 million or more was 0.7% in 2019, compared to 7.2% in 2011, according to the IRS.
While it’s unclear exactly how much the IRS will collect via the revamped non-filer program, the agency estimates there could be “hundreds of millions of dollars” in unpaid taxes from these cases.
“This is a very material amount of money that is being left on the table,” Werfel said Thursday.

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Problems with the new Free Application for Federal Student Aid have resulted in fewer students applying for college financial aid.
Given the current status of FAFSA submissions, the Department of Education is on track to see two million fewer FAFSAs submitted this year, a 15% decline, according to higher education expert Mark Kantrowitz.
Studies show students are more likely to enroll in college when they have the financial resources to help them pay for it.

Despite a growing need, fewer students are applying for college financial aid.
Problems with the new Free Application for Federal Student Aid have discouraged many students and their families from completing an application. As of the last tally, less than five million students have submitted the 2024-25 FAFSA form so far.  

That’s a fraction of the 17 million students who use the FAFSA form in ordinary years, according to the U.S. Department of Education.
“We are putting all hands on deck and using every lever we have to make sure we can achieve the transformational potential of the Better FAFSA to make higher education possible for many more of our nation’s students,” U.S. Secretary of Education Miguel Cardona said in a recent statement. 
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Yet, as of mid-February, only 24% of the high school class of 2024 had completed the FAFSA, according to the National College Attainment Network, down roughly 42% from a year ago.
“If they don’t catch up, there will be more than two million fewer FAFSAs submitted this year, down to less than 15 million total, a 15% decrease — that’s a huge drop,” said higher education expert Mark Kantrowitz.

“It would be a shocking decrease.”

The FAFSA serves as the gateway to all federal aid money, including loans, work study and grants, the latter of which are the most desirable kinds of assistance because they typically do not need to be repaid.
Under the new aid formula, an additional 2.1 million students should be eligible for the maximum Pell Grant, according to the Department of Education. However, given the slower pace of FAFSA applications being submitted, “the number of Pell Grant recipients will be about the same as last year, despite the new Pell Grant formula making it easier for students to qualify,” Kantrowitz said.
“The goal of FAFSA simplification was to increase the number of lower-income students applying. If we have fewer because of a bad rollout, it’s extremely problematic,” he added.

The new FAFSA was meant to improve college access

In ordinary years, high school graduates miss out on billions in federal grants because they don’t fill out the FAFSA. 
In New York alone, students left $226 million in Pell grants on the table in 2023. “The biggest obstacle for people going to college is the cost. And the way to get the cost down is to get scholarships and grants,” New York State Assemblymember Jonathan Jacobson said at a recent press briefing in support of a Universal FAFSA policy. “Unfortunately, you have to complete the FAFSA to get this financial aid, and that’s very difficult to do.”
Jacobson is sponsoring a bill requiring high school seniors to complete the FAFSA. “Education can be the great equalizer, but only if it’s accessible and affordable,” he said.
Universal FAFSA policies have been gaining steam nationwide, with at least 15 states considering a policy to make it mandatory for all high school seniors to fill out a FAFSA either through legislation or regulation, according to the National College Attainment Network.
Research shows those policies can have a direct link to improved education outcomes. In Louisiana, for example, which was the first state to implement this rule in the 2017-18 academic year, high school graduation rates rose and the number of high school graduates immediately enrolling in college climbed to an all-time high, according to early data.

FAFSA completion can predict college attendance

Submitting a FAFSA is one of the best predictors of whether a high school senior will go on to college, the National College Attainment Network found. Seniors who complete the FAFSA are 84% more likely to immediately enroll in college. 
However, many families mistakenly assume they won’t qualify for financial aid and don’t even bother to apply. Others said a lengthy and overly complicated application was a major hurdle.
The plan to simplify the FAFSA was meant to streamline the process.
Still, this year’s rollout was rushed, Kantrowitz said.
“They should have allowed an additional year for implementation of the new simplified FAFSA,” he said. “They did not allow enough time to get it done and not enough time for testing.”
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The new bitcoin funds have seen their trading volume surge this week as the cryptocurrency continues to climb.
The highly active market around these funds is likely a sign that retail traders are using the ETFs to participate in the bitcoin rally.
Bitcoin crossed the $60,000 mark on Wednesday for the first time since November 2021.

Chesnot | Getty Images

Retail traders appear to be using a new tool during this huge rally for bitcoin — exchange-traded funds.
The funds, which launched last month, have seen their trading volume surge this week as bitcoin continues to climb.

For example, the iShares Bitcoin Trust (IBIT) saw about 96 million shares change hands on Wednesday, according to FactSet. That is more than double its previous record high of about 43 million shares, which came on Tuesday.
Another multibillion dollar fund, the Fidelity Wise Origin Bitcoin Fund (FBTC), saw roughly 27 million shares change hands on Wednesday, easily surpassing the 16.8 million traded on Jan. 11, its first day of trading.
Meanwhile, the ARK 21Shares Bitcoin ETF (ARKB) was traded about 7 million times, or about 1 million higher than its Jan. 11 record.
The highly active market around these funds is likely a sign that retail traders are using the ETFs to participate in the bitcoin rally. The largest cryptocurrency crossed the $60,000 mark on Wednesday for the first time since November 2021.
While ETFs are used by all types of investors, the heavy intraday trading suggests that retail traders are a sizable group buying and selling the funds.

The trading volume is even more impressive when considering the price. Bitcoin has risen about 30% since the ETFs were approved, and the tracking funds have all increased in price over the past six weeks, including a big jump this week.

Stock chart icon

Bitcoin ETFs have surged in recent weeks, following the price of the underlying cryptocurrency.

That price movement means that many of the funds saw a record dollar amount traded on Wednesday, as well.
One notable exception to the trend was the Grayscale Bitcoin Trust (GBTC), whose trading volume was still far off of its levels from January. The fund, which has seen billions of dollars of outflows since its launch, had about 34 million shares traded on Wednesday, well below its Jan. 11 number. Still, that translates to more than $1.5 billion in trading volume.Don’t miss these stories from CNBC PRO: More

Amid a college affordability crisis, several schools are eliminating education debt from the outset. 
Roughly two dozen colleges and universities now have “no-loan” policies, which means they will meet 100% of an undergraduate’s need for financial aid with grants rather than student loans, according to The Princeton Review.

Barring a $1 billion donation or broad-based student loan forgiveness, college is becoming a path for only those with the means to pay for it, many reports now show. 
But some colleges have a new strategy to entice students wary of the high cost.   

Roughly two dozen schools have introduced “no-loan” policies, which means they are eliminating student loans altogether from their financial aid packages.
“They are giving them out like candy now,” said Menaka Hampole, an assistant professor of finance at Yale School of Management, of the growing number of no-loan policies.
Among the schools on The Princeton Review’s “The Best 389 Colleges” list, 23 promise to meet 100% of their undergraduates’ financial need without loans.

“Post-Covid, more schools are rolling out no-loan policies mostly on the back of Princeton, which had the money in its endowment to do something,” Hampole said.
“Princeton takes the lead and other schools follow suit — but it’s the top universities that can afford to do this,” she added.

Nationwide, colleges continue to feel the consequences of fewer students and declining tuition revenue, according to Colin Hatton, senior consultant of NEPC’s endowments and foundations team. For the most part, college endowments have paid the price.
“The higher educational system is under stress,” Hatton said.

‘No loan doesn’t mean free’

Of course, even without loans, students may still be on the hook for the expected family contribution, as well as other costs, including books and fees. There could also be a work-study requirement, depending on the school.
Even if a school has a no-loan policy, that also does not prevent a student or family from borrowing money to help cover their contribution.
“No loan doesn’t mean free,” said Robert Franek, The Princeton Review’s editor in chief and author of “The Best 389 Colleges.”

Colleges with no-loan policies

“College is expensive — we have to make sure we keep it accessible,” said Nicole Hurd, president of Lafayette College in Easton, Pennsylvania.
At Lafayette, families with household incomes of up to $200,000 have their financial need met through grants and work study, without any loans.
“We have a moral obligation to make sure our low- and moderate-income families know that college is the best investment you’ll make in yourself,” Hurd said.
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Colby College in Waterville, Maine, has had a no-loan policy in place since 2008.
Terra Gallo, a senior majoring in environmental policy, said “Colby’s no-loan policy and the fact that demonstrated need is met and accounted for was something that was important to both me and my family.”
“I know a lot of people who are in significant debt,” Gallo, 21, added. “That was something I didn’t want.”
Colby senior Jackie Hardwick of Jacksonville, Florida, also said the cost of attendance was the main thing she considered when looking at colleges.

“That was the No. 1 concern on my mind,” she said, highlighting Colby’s support for financial aid and QuestBridge scholarship recipients like herself.
Hardwick, 21, who is a global studies and East Asian studies double major, said she would not be enrolled at Colby without her scholarships or if she had a larger expected family contribution, which she said is still “pretty hefty.” Hardwick works six part-time jobs on campus to support herself and her family’s expected contribution.
“I have to help my family out whenever I can,” she said.
“For us, the no-loan message is incredibly powerful, especially when so many families are grappling with the very real concerns about the cost of higher education,” said Randi Maloney, Colby’s dean of admissions and financial aid.

A student’s greatest concern: ‘too much debt’

“These schools have addressed the biggest concern for students and parents, which is assuming too much debt,” Franek said.
“They are saying to students and parents, ‘I see you and I hear you,'” he said.
Further, such programs will likely result in more students applying, which can also boost a college’s yield — or the percent of students who choose to enroll after being admitted — which is an important statistic for schools, Franek added.

These schools have addressed the biggest concern for students and parents, which is assuming too much debt.

Robert Franek
editor in chief of The Princeton Review

“It is a win-win for schools and students,” Franek said.
“Typically, you will see a fairly sizable increase in the number of admissions applications,” said Forrest Stuart, Lafayette’s vice president for enrollment management.
“It puts your school on the map,” he said. “The more you can have your name out there, the more robust class we can put together.”
— Jared Mitovich contributed to this report.
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