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Though the Business School contends that no man is turned away because of need, its Financial Aid Program includes no schedule of outright grants or scholarships, Assistant Dean Joseph P. Little field said yesterday.
The directors of the Program believe that "no man should be given an education without working for it; he must be willing to provide for himself, and for others in the future."
Scholarships of the type awarded by the College are totally excluded, and the Business School discourages men from taking term-time jobs; there is no organ in the School which helps students in finding part-time employment.
Student Loan Fund
Financial assistance is provided by the Student Loan Fund. In order to qualify for any further financial assistance, men are required to borrow a sum of $1500 at an interest rate of 4 1/2% which begins to accumulate only after graduation. The money must be repaid within four years after the student has left the School.
Aid falls into two types: the Student Loan Fund, and the interest-free advance-in-aid, on which there is no legal, but a moral commitment to repay. These forms of aid give the School a continuing income on repayment of loans, interest, and grants.
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