Three financial aid directors began raising eyebrows in early April when reporters uncovered that the officials had recommended Student Loan Xpress, a for-profit company that provides student loans, to their prospective students after personally investing in the company, and profiting heavily from it. Other reports of possible "conflicts of interest" have shown some college officials to receive "kickbacks" or financial rewards from certain lenders for their recommendation.

These lenders are part of a multi-billion dollar industry. "Last year, according to the College Board, students took out $85 billion in loans," reported Jonathon D. Glater of the New York Times in the April 5 article "College Officers Profited by Sale of Lender Stock."

"Students rarely comparison shop and often rely on the preferred lenders list recommended by universities to take out a loan. Sometimes, only a handful of companies make the list," wrote Glater.

Continue reading "Investigations of Financial Aid Officers and the Student Loan Industry" »

Hundreds of you have already sent personal emails to Davidson President Robert F. Vagt and other college administrators, explaining how college debts have burdened your families' lives and expressing your gratitude.

Click below to read some of the responses. We also invite you to tell your story here, and let us know how college debt has influenced your life.

Continue reading "YOUR Stories!" »

"Young men and women are leaving college with debt loads that would break the back of a mule," wrote New York Times columnist Bob Herbert in his March 22 op-ed "Stepping on the Dream" (subscription required).

Continue reading "New York Times Column Denounces High Student Loans" »

Pulitzer Prize-winning journalist and author Ron Suskind was on campus speaking about his book, A Hope in the Unseen: An American Odyssey from the Inner City to the Ivy League, a story that redefined national debates on achievement, race, and class in higher education. About Davidson's decision, he said:

Continue reading "Ron Suskind Applauds Davidson" »

Click to view a list of links to some of the national news stories covering Davidson's announcement to be debt free.

Among them is National Public Radio, Washington Post, and Davidson's announcement was the fourth most-emailed news story in Yahoo News. Not listed are hundreds of local papers that ran a follow-up article so that high school students are sure to hear the message.

Continue reading "The Buzz..." »