Radcliffe College is facing a financial deficit, both in general endowment and in financial aid funds, which may force a drastic reduction in incoming scholarship students unless other sources of income are found.
Radcliffe is now committed to supporting her present scholarship students. "But unless more money is found," according to Harriet Belin, dean of Admissions at Radcliffe, "we would not be able to admit any new scholarship students at all for next year."
"We are reaching a critical point." said Sylvia Simmons, director of Financial Aid. "We must have additional money to meet the need of admitted students. Radcliffe has not had to face an admit/deny situation before. Now we do," she said.
In the past, Radcliffe has been able to give financial aid to all those who needed it. An admit/deny policy, such as that adopted by the other Seven Sister Colleges, would involve admitting some students while at the same time denying them financial aid.
According to Mrs. Belin, "There is a direct relationship between scholarship funds and admissions policy. If we do not have enough money, we may have to give preference to the girls who can pay their own way." However, she added that Radcliffe has not yet decided whether to adopt an admit/deny policy.
Out of 1235 students at Radcliffe, there are 366 (28 per cent) receiving financial aid, 96 of whom are freshmen.
The 1970-71 budget for financial aid was $7.19,224. But the projected budget of scholarship funds available for the coming fiscal year is more than $200,000 less-$508,647.
One reason for the lowered projection is the cutback in federal as well as private programs, such as the National Merit Scholarship Corporation, the two officials said.
It was possible last year to increase the budget with surplus funds from past years and with an appropriation from the general endowment of the college. This year, however, there are no surplus funds, and in addition to Radcliffe is facing a general deficit of $246,074, or $209 per student.
We are working extremely hard with alumnae and hope they will contribute toward scholarships in particular," Mrs. Simmons said. But only 29 per cent of Radcliffe alumnae have given in the past and there is reason to believe that with the recession that even this figure may diminish, she added. "Radcliffe has to make up $700 for each student," she said.
Other problems which face the Radcliffe Financial Aid Office are increasing tuition and room and board fees as well as the rising cost of living in Cambridge.
According to Mrs. Simmons. "A handicap in the past has been that Radcliffe's close association with Harvard hasmade people think we have sufficient funds. We just do not."
Harvard, too, is in a desperate situation, according to Chase N. Peterson, Dean of Admissions. "The members of this community, including Faculty, the deans, and the Corporation will decide on the priorities for the use of Harvard's unrestricted funds," he said.
I think scholarships must rank first. It is essential to keep open access to both Harvard and Radcliffe. Radcliffe needs help even more, as she has been limited in the past." Peterson added.
Although Radcliffe has never received any money in the past from Harvard. Harvard is aware that Radcliffe's Scholarship funds are limited and would not want a great disparity in the Radcliffe student body, Mrs. Belin said. But she added that no decision has yet been reached as to whether Harvard will be able to help Radcliffe, given their own limited budget.
However, Harvard's unrestricted funds have many uses. "The $40,000 damage to the CFIA is coming out of the unrestricted budget which also pays for scholarships. The bombing cost us the equivalent of 20 average scholarships," Peterson said.
Brown Increases Aid To Undergrads by $5MIn an effort to make education more affordable for its neediest students, Brown University announced a $5 million increase in
Scholarships Won't Rise To Meet Increased CostsThe expenses for an upperclass scholarship student will rise by about $100 next year, and the student will have to
IRS Cracks Down on StudentsThe Internal Revenue Service (IRS) has begun auditing students using information it received from the University earlier this year, and
Faculty Changes Policies On Disciplinary Aid CutsThe Faculty yesterday voted to end the controversial practice of reducing a students scholarship solely because he had been placed
ROTC Is Not Any Other ScholarshipSome may argue that ROTC scholarships should be treated the same as other non-Harvard scholarships. But ROTC scholarships are different. They come with a quid pro quo of four years of military service that makes them a singular recruiting device for a unique form of service the University has deemed particularly honorable.