[1] He received his early education at New Academy near Asheville and briefly attended the University of North Carolina, where he was a member of the Dialectic Society.

The citizens of Buncombe County chose Swain as their representative in the North Carolina General Assembly from 1824 to 1830; he was appointed to the state Superior Court as a judge, serving from 1830 to 1832.

After serving the constitutional limit of three one-year terms, Swain was named president of the University of North Carolina in 1835; he held this post for 33 years and promoted the growth of the institution.

In 1865, Swain helped negotiate the surrender of Raleigh to the forces of General William Sherman, and, following the end of the war, advised U.S. president Andrew Johnson on Reconstruction policies.

Although Swain had attempted, facing serious challenges, to keep the University of North Carolina open during the course of the war, by 1868, the school was suffering financially, and, at the request of a new board of trustees appointed by the state legislature, he resigned.