watch nowWithout broad-based student loan forgiveness, some colleges have a new strategy to keep students from drowning in debt. Roughly two dozen schools have introduced "no-loan" policies, which means they are eliminating student loans altogether from their financial aid packages. More from Personal Finance:More colleges are offering guaranteed admissionStrategy could shave thousands off college costsShould you apply early to college? Colby College in Waterville, Maine, has had a no-loan policy in place since 2008. For Terra Gallo, who is a senior majoring in environmental policy, "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."

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Persons: Nicole Hurd, Hurd, Terra Gallo, Gallo, Colby, Jackie Hardwick, Hardwick, Randi Maloney, Robert Franek, Franek, Forrest Stuart Organizations: Lafayette College, Finance, Colby, Quest, Princeton, The Princeton Locations: Easton , Pennsylvania, Lafayette, Waterville , Maine, Jacksonville , Florida