Davidson Eliminating Loans!

Colleges and Universities A-Z Davidson College
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The Duke Endowment has pledged $15 million to help Davidson College eliminate loans from its student financial-aid packages. </p>

<p>Starting in August, Davidson will replace student loans with grants. The initiative is intended to increase enrollment among students from middle- and lower-income families and allow students to graduate debt-free.</p>

<p>Davidson is the first national liberal arts college, and only one of a few institutions of higher education in the country, to eliminate student loans from its financial-aid packages.</p>

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<p><a href="http://www.bizjournals.com/charlotte/stories/2007/06/04/daily49.html%5B/url%5D"&gt;http://www.bizjournals.com/charlotte/stories/2007/06/04/daily49.html&lt;/a&gt;&lt;/p>

<p>:)</p>

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<p>Good to see that colleges are taking a more student-centralized approach.</p>

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<p>didn't they already announce this like three months ago?</p>

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<p>Yes, they announced it back in March. The most recent announcement is of a donation by the Duke Endowment to support the effort.
And in spring 2006, they announced plans to limit loans to $3,000 a year, undercutting Emory's plans to limit loans to $5,000 a year (which could have changed by now.)
Still, good surfing by the new news editor. It's an amazing commitment by the school and its benefactors.</p>

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<p>I believe Princeton, Harvard, Stanford and Emory have eliminated and/or capped student loans, but does anyone else off hand know the other schools or can provide another CC link with that specific info? Thanks</p>

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<p>More than those few have. Something like 15 have, I think. Sorry that I can't remember which ones, but looking through some books, I remember many talking about how they've eliminated loans.</p>

<p>EDIT:</p>

<p>I have a question regarding financial aid. I plan on applying to davidson (maybe early decision). I'm in an odd fin. aid situation, though. I live with my half sister (have for past two years). I think the FASHA will have me report their income/assets to calculate EFC (and they're rich..). The deal is, they aren't my parents, and they don't plan on giving me a penny for college. So, any EFC like that would be completely unrealistic.
I'm trying to figure out if, and if so, how much schools would give me aid. Also, if they did, how would they calculate it. </p>

<p>Any ideas? I'm worried about applying early decision because of the possibility of unfavorable financial aid decisions, which would make it impossible to attend.</p>

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<p>Williams and Amherst both have eliminated loans. I don't remember others.</p>

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<p>No Loans for ANY attendees List (others have no loans for certain groups):
Amherst, Bowdoin, CIT, Colby, Dartmouth, Davidson, Harvard, Haverford, Pomona, Princeton, Stanford, Swarthmore, UPenn, Williams, Yale.
source: <a href="http://projectonstudentdebt.org/files/pub/type_and_coverage.pdf%5B/url%5D"&gt;http://projectonstudentdebt.org/files/pub/type_and_coverage.pdf&lt;/a&gt;&lt;/p>

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<p>no loans to us middle income family means “You and your family retain the choice to take out loans as a matter of personal financing.” </p>

<p>We would need the loans to make up the balance left after the grant. And Davidson calculates EFC higher than FAFSA EFC.</p>