Private credit sources have joined with an alumni fund at the Columbia Graduate School of Business to provide a unique part-loan, part-aid scholarship plan now in full-scale operation.
"This plan is very important and very interesting because of its use of private sources," John U. Monro '34, Director of the Financial Aid Office, commented yesterday.
Under Columbia's plan, 40 percent of the amount needed by a student is given as an outright grant, provided by alumni, while the other 60 percent is loaned by the Bankers Trust Company. This year, the bank has loaned $37,500 to 63 students, while the alumni fund has provided $20,000.
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