<p>We attended a Davidson reception in our town tonight and one of the tidbits of information we learned is that Davidson is planning to eliminate loans from their need-based financial aid. This will probably take effect with next year's class (class of 2012). The adcom said that Davidson now limits loans to $3000, which is great. But the trustees decided that they wanted to eliminate loans altogether and have found the funds to do so. :)</p>
<p>I wish they'd done that when I applied. :( I'll pass that tidbit on to my sister- thanks!</p>
<p>Just in response to that, not to get your hopes down but...</p>
<p>While Davidson currently caps loans at $3000 in their financial aid packages, this does not mean that they will meet your total need. So instead of getting a loan in your package there might just be no accounting of that money. This is not to say that this will most definitely be the case, but it might happen. Davidson is a great place though, and I absolutely love it here! I would encourage all to apply!</p>
<p>Thanks,
Current student =)</p>
<p>According to Davidson's Common Data Set, they meet 100% of need, BUT the average indebtedness at graduation is $22,954. With the new financial aid policies, meeting 100% of need might change, but I don't think it will. Davidson has a much smaller endowment than Princeton, but the student body is correspondingly small.</p>
<p>Davidson does meet 100% of the accessed need according to them...this does not mean they meet your need according to your FAFSA, there is the difference. So, if your FAFSA says you have a 0 EFC, Davidson does not meet 100% of cost...I know of someone that they said had a $11,000 responsibility even though they had a FAFSA 0 EFC. That person was given all of the need that Davidson said she had, but still had to take the rest out in loans, because her family simply could not afford to pay. I don't know how often this happens, but I don't want anyone thinking that they will not have any loans coming here, or that they will only have 3,000. (the friend mentioned above did have the 3000 loan included in her financial aid package and so her total loan for the year was $15,000.)</p>
<p>Don't forget that Davidson has very few students who qualify for need-based financial aid. Only 35% of the student body. A very, very small number by today's standards.</p>