Business School Students Given $450,000 in Awards

Not a single student was rejected by the Business School this fall through lack of funds, Donald K. David, Dean of the Business School, announced in his annual report.

For the first time in its history, noted Dean David, the Business School was able this fall, through the contributions of alumni and friends, "to aid every student who needed financial assistance to attend."

Half as Loans

This year the Business School is advancing $450,000 to 395 men, approximately 35 per cent of the student body. About half of this amount was in loans. The rest was awarded as advances-in-aid, for which a student assumes a moral commitment to repay when he can. The advances-in-aid made this year will come back again to serve the same purpose eventually as part of a revolving fund.

"In selecting the present entering class, the Admissions Board chose the men best qualified to undertake the business administration program without any consideration whatsoever of the ability of these men to meet school expenses," Dean David commented. After a man had been definitely admitted, then the Financial Aid Board evaluated his individual needs and made necessary awards.

No "Rich Man's School

Dean David's report also emphasizes that the family income statistics of the men receiving financial aid "refute the frequently held misconception that the Business School is exclusively a rich man's school."

Studies indicate that 40 per cent of the financial aid recipients come from homes where the total yearly earnings are less than $2,600; 56 per cent come from families which gross less than $4,800 per year.

From these figures, Dean David concludes that the financial aid program is giving men from all economic levels and every geographic area in the United States a chance to obtain an education in the School. This program will further the School's aim of training for American business the men whose qualifications best commend them.