In 1877, Dixon entered the Shelby Academy, where he earned a diploma in only two years. In September 1879, at the age of 15, Dixon followed his older brother and enrolled at the Baptist Wake Forest College, where he studied history and political science. As a student, Dixon performed remarkably well. In 1883, after only four years, he earned a master's degree. His record at Wake Forest was outstanding, and he earned the distinction of achieving the highest student honors ever awarded at the university until then. As a student there, he was a founding member of the chapter of Kappa Alpha Order fraternity, and delivered the 1883 Salutatory Address with "wit, humor, pathos and eloquence".