Davidson College recognized for innovative approach to financial aid

For Kyle Snipes, the Davidson Trust financial aid package was a deciding factor in his ability to attend a private university.

Snipes, a junior at Davidson College, said his financial aid covers $49,000 out of the $52,000 tuition price tag.

“Without the trust, there was no way my family would’ve been able to afford for me to go to school here,” he said.

The Davidson Trust initiative was recently recognized by the U.S. Senate for its innovative approach to college affordability.

Carol Quillen, president of Davidson, presented the school’s financial aid program Thursday to the U.S. Senate education committee.

In 2007, the college began the Davidson Trust initiative, which offers all eligible students a financial aid package that meets all of the student’s individual needs and is devoid of any packaged loans.

“Students didn’t apply to colleges and universities that they did not believe they could afford,” said Chris Gruber, vice president and dean of admission and financial aid for Davidson, in an email. “The trustees of Davidson College were convinced that a bold statement needed to be made.”

The Davidson Trust is funded through grants and work-study programs, Gruber said.

While Davidson’s graduation rate stayed at a steady 88 to 89 percent for four years, there is a correlation between financial aid incentives and the number of applicants, he said.

Gruber said applications grew from 3,992 for the class of 2011 — the year the fund started — to 4,755 for the class of 2015. Davidson enrolls about 1,900 students.

Shirley Ort, UNC’s associate provost and director of scholarships and student aid, said an initiative like the Davidson Trust is unrealistic given UNC-CH’s size.

“We don’t have enough money to give every student grant aid,” Ort said.

And pending tuition hikes would not affect the financial aid UNC awards, she said.

As long as tuition revenue can continue to go toward financial aid, the university will be able to accommodate its students, she said.

The UNC-system Board of Governors will vote on tuition increases for each system campus Friday.
UNC-system administrators are looking at grants and alumni donations as possible alternatives to tuition increases.

Snipe said alumni contributions played a large role in forming the Davidson Trust.

“When you’re given this opportunity, you want to give back,” he said.

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