Similar programs have been instituted on a smaller scale--at the Business School two years ago and at Stanford Law School last year.

Even with the forgiveness provision, though, the program is more of a symbolic gesture than competition for existing job options.

"There are real market forces for students not to do this," Markus said yesterday. He added, however, that "there is a kind of professional moral obligation to do some public interest work, at least for a summer."

"It's basically a fall-back for students who do not get work-study [government loans] or student-funded fellowships," said Feldvebel. Last year over 60 students applied for the 22 student-funded grants, Markus added. Ap- proximately 50 students get work-study each summer.

In theory, the new program is a significant statement by the faculty that it disapproves of the preponderance of corporate position.

"One of our concerns is that there are an awful lot of interesting jobs...with organizations that cannot pay that wage." Secretary to the Law School Faculty Stephen M. Bernardi '52 said last week.

At least one observer cheered the formal statement of this concern.

"I think it is a terrific development. It is a step in the right direction," said Steven Brill, editor of "The American Lawyer," who has written extensively on the subject of law schools" financial aid.

The lone dissenter both in the Financial Aid Committee and in the faculty meeting was Steven Shavell, professor of Law and Economics. "Any money used to support students over the summer would not be available to them during the school year," he said yesterday. "The fact that there was a trade-off was virtually never mentioned.