College Launches Deferred Payment Option for Fall 2020
April 21, 2020
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- Mark Johnson
COVID-19 has brought unexpected, immediate challenges to many Davidson students and their families. In keeping with our community’s commitment to serving all students irrespective of financial circumstances, families who need it can defer fall payment for up to one year.
“Davidson is a community,” said Carol Quillen. “We support each other, and at this moment our students may need flexibility as they plan for the coming months.”
Students, including incoming first-year students, will get their bills for the fall semester in July. All except seniors can defer paying until August of 2021. Seniors graduating next spring can defer the fall semester bill until April 1 of next year.
They can postpone paying part or all of the full family contribution, which is the amount not covered by scholarships and financial aid. Davidson practices need-blind admission and meets demonstrated financial need for all students. Aid awards are made up entirely of grants and work-study jobs without packaged loans.
Davidson will decide at a later date whether to extend the same offer for the spring 2021 semester.
The deferred payment option grew out of conversations among college leadership and trustees with deep experience in both finance and higher education.
Students will have to meet their obligations, but they get a grace period. For example, a student who withdraws after the designated withdrawal period still will have to pay for their semester.
“Our primary purpose is the development of humane instincts, discipline and creativity as key to preparing students for lives of leadership and service,” said Alison Hall Mauzé, chair of Davidson’s Board of Trustees. “This adaptation to their urgent needs reflects that purpose and helps us send more of them into the world at a time when we need these smart, driven and kind people.”
