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University officials last night foresaw an increased emphasis upon loans rather than scholarships as a source of financial aid, but refused to comment upon a possible tuition increase.
It was denied, however, that University policy prevented more than one raise in tuition within the span of an undergraduate class.
Referring to a speech by Barnaby C. Keeney, president of Brown University, John U. Munro '34, director of the Financial Aid Office, stated that Keeney "spoke for a lot of college presidents when he advocated increasing pressure for loans."
Loans to Reach New High
Munro predicted that the amount loaned by the University would reach an alltime high this year, and estimated that students would borrow over a quarter of a million dollars. This is part of a rapid growth in the demand for loans since 1949, when they totaled $10,000.
Scholarship aid would not be decreased at the expense of loans, Munro asserted. "Every time costs have gone up, we have increased both loans and scholarships," he observed. He added, however, that Harvard last year used all the loan money which it had and needed to employ about $70,000 of unrestricted faculty funds.
Expansion of loans to undergraduates at Harvard, said Monro, would have to come from new sources. He said that these sources would probably be philanthropic foundations. "The next big move of foundations," he said, "will probably be--very shortly--to allocate money for college loans."
Wallace McDonald '44, director of Freshman Scholarships, stated that he largely concurred with Monro, but emphasized that the growth of loan programs was not "going to be a sudden revolution" just because it was recommended to President Eisenhower. McDonald stressed that this was "not a brand-new idea."
Also taking this view, Seymour E. Harris '20, professor of Economics, stated that he had "for twelve years" been urging an installment plan for financing education. He said that he had been in correspondence with Devereux C. Josephs '15.
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