Over $450,000 in student loan funds, the largest amount in the history of the College, will be made available to undergraduates by the Administration during the coming year. The sum represents a $100,000 addition to last year's total.
According to Wilbur J. Bender '27, Dean of Admissions and Financial Aid, the loan increase will help swell the amount of College funds granted to nearly 50 per cent of undergraduates through scholarships, loans, and jobs to approximately $2.6 million.
Bender predicted that the loan fund, which has grown by 1000 per cent since 1949, "might double in the next ten years." Scholarship grants, he forecast, would increase to a lesser degree.
Eventually, according to the Dean, the Department of Financial Aid may achieve a one-two ratio of outright gifts to long-term loans. At present, the rate is one-three.
Such a proportionate increase will come, Bender explained, when agitation about student loans in America convinces parents that "it is as respectable to borrow money for college as it is to borrow money for a television set."
There is now a $3,000 limit on the amount loaned to any one undergraduate over his four college years.
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