How is financial need calculated?
Within standards set forth by the U.S. Department of Education, Davidson uses its own formula to determine eligibility for aid. From the financial information your family provides, we calculate your family contribution, subtracting it from the cost of attendance for the academic year.
What factors determine my family contribution?
The size of your family, their income, taxes, living costs, assets, number of siblings in college, and, in some cases, other personal or financial circumstances.
Can I estimate what my family might be expected to pay?
Although Davidson has its own formula, which may differ from other estimates, we encourage you to begin the process at the College Board's web site. Carefully follow the directions to calculate family contribution, using the institutional formula.
Will I get financial assistance every year?
While you must reapply for financial assistance each year, aid is normally renewable for four years, providing you make satisfactory progress toward a degree and your family financial circumstances remain the same.
If I apply for financial aid will it hurt my chances of being admitted?
No. Davidson's need-blind admission policy states that your family's ability to pay for your education has no bearing on our admission decision.
If I apply under Early Decision will I be at a disadvantage in the financial aid process?
No. Students admitted under either admission plan (Early Decision or Regular Decision) who demonstrate financial need will be offered financial aid packages to meet their financial need.
Another school has offered me a better financial aid award. Will Davidson match it?
Davidson will not match other schools' financial aid offers. However, we are available to discuss your questions and concerns about your financial aid package. If you believe that we have made an error in our review or if extenuating family circumstances were not revealed in the financial aid application, we encourage you to contact our office.
How do I compare financial aid packages from different colleges?
Look carefully at the types of aid in each package. What is the proportion of grants, loans, and campus employment funds? Compare the total aid package with the total cost of attending the institution. Be aware that some schools only consider your need in light of direct costs, i.e., tuition, fees, room and board; not total costs, including books, transportation, and personal expenses. Davidson's comprehensive fee includes tuition, required student fees (including laundry!), room, and board.
If I receive a scholarship from my high school or community how will it affect my Davidson financial aid award?
Davidson meets your full demonstrated financial need, so your aid package will be adjusted to accommodate additional funds.