This week, the Undergraduate Council recently launched a new initiative drafted last fall to increase the funding available for student organizations. The program, known as UC Loans, allows the Council to distribute money to student groups aiming to make a profit through events with significant fixed costs, like fundraisers. In many ways, this program is a stark divergence from previous UC policy, as the governing body was unable to give money to groups intending to make a profit or those that did not serve the interests of the undergraduate population directly. Much like microfinance, these loans will be small-scale, drawing from a budget of $10,000, and the groups receiving them will be under a short, three week time constraint to pay them back.

The Undergraduate Council’s move to expand the availability of funding for student organizations is a noble one; such a program brings us closer to creating a more vibrant campus community. We hope to see UC Loans succeed, and if possible, implemented on an even larger scale.

We have praised past efforts by former UC president Senan Ebrahim ’12 and his predecessors to make student funding more accessible, and support this continuation of his legacy. However, the current Council has done little to actualize his vision besides implement programs already in the pipeline. We have still seen little in the way of radical change from the new administration, and we reaffirm our earlier position on the usefulness of the Council’s numerous other ventures and proposals.

Our issues about the efficacy of the UC notwithstanding, we support the Council’s expansion of the role it plays best—that of financier for student organizations. Through more access to funds, student groups, particularly those in their infancy, will be capable of implementing more ambitious fundraising plans and increasing their visibility on campus. This will also undoubtedly encourage the formation of groups that would have otherwise been unable to clear the financial obstacles posed by the dues-and-donations model. All are positive developments, and will serve to increase the relevance of Harvard’s many student groups.

It is still worth noting that this initiative is an experimental program involving a significant degree of risk. As the UC finances its expenditures through fees collected from undergraduates, it is obligated to invest these funds wisely. We hope that the new administration will distribute this money prudently, neither approving obviously risky projects nor denying worthy ones.