Government Increases Funding For Aid to Radcliffe Students
The federal government's Office of Education will allocate approximately $181,000 at Radcliffe's '78-'79 National Direct Student Loan (NDSL) program, a 150 per cent increase over last year's grant, Martha C. Lyman, acting director of financial aid, said yesterday.
Last year's grant of $74,000 was "smaller than usual" because the Financial Aid Office underspent NDSL funds in '76-'77, Lyman added.
In the NDSL program, students receive loans without interest while in college and then pay three per cent interest after graduation.
"We received more money for '79-'80 because we demonstrated in our financial profile that the money would be well spent because we have more women this year," Lyman said.
The increase in funds will not increase the number of loans to Radcliffe students. "We've always had plenty of money, it just means that more students will be able to get these three per cent loans," R. Jerrold Gibson '51, director of the office of fiscal services, said yesterday.
Radcliffe matches one-ninth of the NDSL funds allotted by the government and channels repaid NDSL loans back into the program.