More than one-half of the University's 4430 undergraduates are receiving financial aid from the College this year through scholarships, loans and part-time employment, Dean Bender announced yesterday.
The 1956-57 financial aid budget stands at more than $1.9 million, and is the largest such outlay in the University's history.
Scholarships for 1,230 students accounted for over $1 million compared with last year's figure of $850,000 to 1,170 students.
The $200 tuition rise this fall was responsible for the increases, Bender pointed out. Although about the same number of freshmen were aided this year as last, the number of upperclass scholarship holders rose from 825 to 890, while the average stipend grew from $720 last year to about $830 this year.
Long term loans also increased $15,000 over last year's $210,000 total. More than 500 students will receive long term loans, while other students will receive another $25,000 in short term emergency aid.
In addition to scholarships and loans, the Student Employment Office will place some 1,200 students in part-time job with the University. These persons will earn over $450,000 while it is estimated that undergraduates will earn, all told, some $650,000 from both University and non-University jobs.
Although resources for financial aid have grown steadily during the past few years, Bender emphasized that the need has grown just as fast. For example, in 1948-49 the loan program totaled only $10,000, rose to $95,000 in 1952-53, and mushroomed to $210,000 last year.