In March 2007, Davidson became the first college in the country to replace loans with grants in all of its financial aid packages.

Press Releases

May 2012
Davidson College Receives $25 Million for The Davidson Trust; Gift is Second Largest in College's History
Davidson College President Carol Quillen today announced a gift of $25 million from Edward L. "Ted" Baker, Class of 1957, a former Davidson trustee and chairman emeritus of Patriot Transportation Holdings, Inc.

February 2010
President Quillen Describes Davidson Trust for U.S. Senate Panel Examining College Affordability
Davidson College President Carol Quillen testified about "Innovations in College Affordability" today before a U.S. Senate panel in Washington, D.C. Her testimony for the Committee on Health, Education, Labor and Pensions (HELP) focused on The Davidson Trust-Davidson College's commitment to meeting 100% of demonstrated financial need with grants and employment, and without packaged loans.

January 2008
New Name for No-Loan Policy: The Davidson Trust
President Tom Ross has announced that Davidson’s new program of debt-free education will be named The Davidson Trust.

June 2007
Duke Endowment Gift Will Help Davidson Students Avoid Student Loan Debt
The Duke Endowment has pledged $15 million to help Davidson College achieve its most significant reaffirmation of purpose in decades—eliminating loans from student financial aid packages.

March 2007
Davidson’s New Financial Aid Policy Eliminates Student Loan Debt
Beginning in August 2007, Davidson students will have their demonstrated financial need funded entirely through grants and student employment, and can graduate debt-free.

Media Coverage

CNBC
Debt-Free College? Yes, It Exists

NPR Morning Edition
Davidson College Dropping Student Loans

Inside Higher Ed.com
Davidson Eliminates All Loans

Bloomberg
Davidson, Copying Ivies, to Eliminate Student Loans