Harris Finds Support For Finance Plan
Faculty Unit Gives 'Limited Approval'
Seymour E. Harris '20 disclosed yesterday that his revolutionary long-term loan plan received "a fair amount of support" from the faculty seminar in the Economics of Higher Education on Wednesday.
Dean Bundy and other high University officials are members of the seminar.
Harris said that his "College Education on the Cuff" plan, which drew criticism from the financial aid office last week, was discussed extensively, but no decisions were made.
"The loan plan will be looked into at greater length at our next meeting," said Harris. "It hasn't been studied enough yet, and the Deans won't want to commit themselves," he added. Dean Bender could not be reached for comment last night.
The Harris plan proposes that the expense of a college education be spread out over a period of 20 to 40 years.
Harris suggests that this will lessen the burden that immediate repayment imposes on graduates during the first lean years in their vocations.
Radical proposals of Harris' plan were hit earlier by Wallace McDonald '44, Director of the Financial Aid Office and Fred L. Glimp '50, Director of Freshman Scholarships.
McDonald, also a member of the seminar, insisted that de-emphasis of scholarships, which the loan program assumes, should be resisted. He said the institution of a large-scale loan program would bring about "an almost impossible legal task."
The loan program was first presented at the annual meeting of the College Scholarship Service division of the College Entrance Examination Board on Oct. 28. It was intended not only for use at Harvard, but in public institutions and other Ivy League colleges.