Asbury University has launched a Student No Debt Fund, a scholarship initiative aimed at helping select students graduate without student loan debt. The program will begin with a pilot phase in the Spring 2026 semester within the Dayton School of Business.
The program was announced in December 2025 and according to Asbury’s website, the pilot program will distribute approximately $200,000 of donations to help pay off student loans for a group of qualifying graduating seniors. The initiative is intended to reduce the financial burden students may face after graduation and provide greater flexibility as they pursue careers and service opportunities.
Dr. George Allen was asked to serve as director of the Student No Debt Fund by Mark Troyer, the Vice President of Institutional Advancement at Asbury’s School of Business. Allen’s role involves managing all the selection and application processes, as well as overall management of the program. Allen retired from full-time teaching in 2025 after 11 years as a faculty member in the Dayton School of Business and now serves as the director of the Asbury Center for Professional Selling.
“Graduating with debt can be a burden,” Allen said. “It can have a lot of different impacts. It can have an affect on what jobs we choose, because we may have to choose one job that we feel like will help us to pay off that debt.”
The new no-debt program includes academic, co-curricular, mentorship and leadership requirements for students. The requirements focus on financial literacy, biblical worldview and professional development. Eligible applicants must be traditional undergraduate students in good academic and community standing, enrolled in classes full time, and have completed at least 75 credit hours. During the program’s first year, students graduating in May 2026 can still apply if they have begun all required components and plan to complete them by the end of the semester.
Allen said the program is intended to encourage students to serve others, steward their finances and pursue their calling.
“A lot of students or graduates are going to feel more comfortable with being able to contribute to God’s work financially,” Allen said. “We’re hoping that students will be not only enabled to give, but also that they will feel a desire to give back, because others have given to them.”
University officials say the pilot phase will help determine the future direction and scope of the Student No Debt Fund as Asbury evaluates donor interest as well as other factors such as student participation. Allen said the university hopes the program will expand in the future.
“At some point, we would love it if every student that attended Asbury, full time as an undergraduate, would have the opportunity to apply for this program,” said Allen.
The application for the Student No Debt Fund is expected to open by mid-February. Information about eligibility requirements, application details and frequently asked questions is available on Asbury University’s website by searching “No Debt Fund.” Students with additional questions may contact Allen at george.allen@asbury.edu.
