Increasing Access and Affordability — Scholarships and Financial Aid

Challenge

With college tuition rates steadily increasing, students are finding it nearly impossible to afford higher education without receiving some type of financial assistance. Tuition increase rates are exceeding increases in average family income, so the ability for families to contribute financially has decreased. For many, cost is the single largest barrier to postsecondary education.

Response

Expanding Scholarships and Financial Aid

Over the years, The Duke Endowment has worked closely with each institution to help make education more affordable through scholarships and financial aid. Examples include:

The Davidson Trust, supported by $21 million in grants to Davidson College, is a financial aid initiative that frees students from the burden of mandatory loans. Davidson was the first national liberal arts college to initiate such a policy.

The Financial Aid Initiative, a $75 million grant to Duke University, supports undergraduate need-based financial aid.

The Townes Scholars, a major scholarship program established with a $14 million grant to Furman University, helps the university attract highly qualified students from South Carolina.

A scholarship program at Johnson C. Smith University, supported by a $3 million grant, helps the school attract high-caliber scholars.

Impact

Grants and scholarships from The Duke Endowment have made it possible for thousands of deserving students to graduate with significantly less debt or no debt at all.