The average student loan debt load at DePauw University is the second-lowest in Indiana and “well below the national average,” according to lendEDU, an online marketplace for student loans.
Their survey of more than 1,000 colleges and universities was released last month.
Elreo Campbell, associate vice president of enrollment management, said the school’s donors and its $731,000,000 endowment make DePauw an affordable reality.
According to DePauw Finance and Administration, the average DePauw student debt today is $23,635, as stated in the report. This is second only to Indiana University East in Indiana, at which the report states the average debt is $22,392.
“We are going to have more endowment, more than these public, state schools because they are run by the state. Their money is coming from the state and our money is coming from real donors,” Campbell said.
The value and experience DePauw alumni receive generates these same experiences for future students, and this is seen through the reliance on regular donations.
“DePauw can’t continue unless everyone gives something back. It doesn’t have to be millions of dollars, but anything to show that you value DePauw as an institution,” Campbell said.
He pointed out that this cycle demonstrates how essential the student and alumni relationship is to support the University’s operations and improvements. “The financial aspects of an undergraduate institution do not have to be burdensome,” said Campbell.
And he shares advice on making education attainable. “Do not ever accept no when asking a university if there is any more financial aid available. It is all about how you ask the question,” Campbell said.
Campbell spoke on the commitment of the admissions, along with every office on campus, to ensure that students are staying and are comfortable with the investment they are making at DePauw. According to the Office of Admissions, 98 percent of DePauw students are on some form of aid.
Campbell doesn’t want students to wait until the issue is urgent to ask questions. “Students,” Campbell said, “do not come in to ask questions. I know they have questions, but they usually wait until graduation.”
For sophomore Amanda Showalter, communication was key to DePauw accommodating her financial needs.
“I was initially worried about DePauw’s sticker price, given it is so high. But I told financial aid about my situation and they were willing to work it down to the number I could manage,” Showalter said. “It was all about communicating."