Wow. This just in.
Dear Wilson,
Today we announced that The Duke Endowment has pledged $15 million to help Davidson initiate and endow the historic new policy to eliminate loans from student financial aid packages. The Duke Endowment Trustees have consistently encouraged and supported Davidson at points of critical decisions, and our gratitude for their counsel and support knows no limits.
This remarkable gift represents an important first step toward fulfilling the Davidson Board of Trustees’ commitment to permanently fund this new policy. Of this gift, $5 million is in hand for immediate use, and $10 million is committed to the $70 million needed to endow the policy.
As we expect our no-loan initiative to lead to increased enrollment of students from middle and lower income families, it reaffirms a core value of our college—that a Davidson education should be affordable for all students, regardless of means. Following our March announcement of this new policy, we heard from hundreds of members of the college family, as well as many others from across the country, who share this value and endorse our Trustees’ vision of education and opportunity at Davidson.
Please take a moment to look at the full story just posted on the Davidson homepage, and read in more detail about The Duke Endowment’s extraordinary support of our efforts to make a Davidson education accessible to all. We remain proud that Davidson is the first national liberal arts college to eliminate student debt in its financial aid packages, and we will continue to share news of our progress toward endowing this policy.
Sincerely,
Robert F. Vagt
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