Only 24 undergraduates have used the Bursar's Office Credit Plan since it was begun three years ago. Several students, however, have taken a second and a third loan, bringing the present total of outstanding loans to 44.

Begun in the fall of 1958, the plan is available to students who are not eligible for assistance from the College Financial Aid Office and who do not have a scholarship from the College. The first group includes undergraduates whose families have sufficient means and those who would rather not submit an invoice to the Financial Aid Office.

The maximum loan is $600, payable at the rate of $50 a month immediately following graduation. The credit includes an interest rate of six per cent each year.

Pyne Explains Qualifications

Explaining the small number of participaters, Charles C. Pyne, Bursar, pointed out that only a few students meet the qualifications. He mentioned also the high interest rate, explaining that it takes effect the same year the loan is made, unlike the Financial Aid Office interest which is not charged until after graduation.

Although only three students have borrowed from the plan this year, Pyne suggested that more might take out loans after the tuition increase in January.