|Four Donors, Including Two Trustees, Give Davidson $14.7 Million for The Davidson Trust; Gifts Will Support Scholarships for Admitted Students
April 08, 2010
Contact: Stacey Schmeidel, Director of College Communications, 704/894-2798
Davidson, NC -- Davidson College has received four gifts, totaling $14.7 million, for The Davidson Trust, the college's historic financial aid initiative that provides all qualified admitted students with financial packages made up of scholarships and student employment, with no loans.
The gifts were announced at a meeting of the college's Board of Trustees on Tuesday, April 6. Two of the gifts are from Davidson trustees: Mackey McDonald '68; and David Sprinkle '66 and his wife, Pam. The third donor is a former chair of the Board of Trustees, John McCartney '74. The fourth gift is a bequest from the estate of Jack Turner '52 of Palm Beach Gardens, Fla.
In making the announcement, Davidson College President Tom Ross said, "Since the college's founding, Davidson has been committed to enrolling the most talented applicants from all backgrounds, regardless of financial need. In today's challenging economic climate, it is more important than ever that highly selective liberal arts colleges like Davidson have the scholarship aid necessary to make it possible for students to attend. These new gifts, from four very generous alumni, are a sign of commitment to Davidson, and to our principles of need-blind admission and financial aid. And they are a sign of commitment to our current students and those who will enroll in years to come."
In March 2007, Davidson became the first liberal arts college in the nation to eliminate loans from all financial aid packages, promising to meet 100 percent of each accepted student's financial need with a combination of grants and campus employment, with no loans. This program, called The Davidson Trust, makes it possible for talented students from all backgrounds to imagine coming to Davidson, and for graduates to make life and career choices based on their interests and passions. Davidson practices need-blind admission and financial aid; applicants are admitted without regard to financial need, and the college promises to meet the full demonstrated need of each admitted student's need.
In January, Davidson announced the establishment of the Alvarez Scholars Program, which will provide scholarships for international students. The program was established with a $10-million gift announced by Carlos and Malu Alvarez. Carlos Alvarez is a Davidson trustee and CEO and president of The Gambrinus Company.
About the Donors
Mackey McDonald '68 is chair of Davidson's Board of Trustees.
John McCartney '74 chaired Davidson's Board of Trustees from 2004 to 2008.
David Sprinkle '66 is chair of the Audit and Budget Committee of Davidson's Board of Trustees.
Lewis "Jack" Edward Turner, Jr. '52, of Henderson, N.C., and Palm Beach Gardens, Fla., passed away on Aug. 22, 2008 at his home in Florida.
About Davidson College
Davidson is a highly selective independent liberal arts college for 1,800 students located 20 minutes north of Charlotte in Davidson, N.C. Since its establishment in 1837 by Presbyterians, the college has graduated 23 Rhodes Scholars and is consistently regarded as one of the top liberal arts colleges in the country. Through The Davidson Trust, the college became the first liberal arts institution in the nation to replace loans with grants in all financial aid packages, giving all students the opportunity to graduate debt-free. Davidson competes in NCAA athletics at the Division I level, and a longstanding Honor Code is central to student life at the college.