Word: aid
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Dates: during 1970-1979
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...Next year, Harvard will receive $440,000 in NDSL funds, 26 per cent less than this year's allotment. However, Radcliffe will get more because this year's allocation was unnaturally small, after Radcliffe failed to loan out all the 1977-78 funds. Martha C. Lyman, director of financial aid, says, "It's not the end of the world when we don't get NDSL money. Some people will just have to take out per cent loans," instead of the 3 per cent of fered by the NDSL...
Lyman says cuts in federal aid programs will hurt Harvard and Radcliffe less than many smaller institutions because the University has two other areas from which it can draw financial aid resources. Income from restricted private grants from 300 separate accounts approaches $3 million annually, and the office of financial aid supplements these funds with money from the Faculty of Arts and Sciences. Lyman says she hopes she can reduce the dependence on the FAS funds. Despite the significant increase in awards for next year, FAS will supply in 1979-80 the same amount...
Within the framework of its financial aid operations, Harvard operates the Parent Loan Plan (PLP), begun with the Class of '80 which helps students with family incomes ranging from $15,000 to $50,000. The plan uses a variety of loans, grants and student work opportunities to allow parents to pay off their debts to Harvard in eight years of monthly installments. Administrators say the plan has increased the yield--the number of accepted students who actually attend--of middle-income students. Before the PLP the yield among students in this range was about ten percentage points lower than other...
...cent of students' salaries for jobs with non-profit organizations, including Harvard. Lawrence E. Maguire '58, director of student employment, says the program has doubled in the past three years and probably will double again next year. CWSP funds are available only to students on financial aid. About 1500 Harvard and Radcliffe students took jobs under the program in 1978-79. Maguire says that work study has become "a spearhead into the community--because of the 80-20 split, employers like it." Gibson adds, "work-study reduces the debts students have to pay because it's not a loan...
Though costs of a Harvard education have followed inflation's upward surge, aid to the increasing number of students who need it has risen as well. Reliance upon student employment represents a realization by both the University and the students that Harvard will not bear the burden of increasing costs alone; students get the money and Harvard gets the service. And students seem willing to take the jobs. Lyman notes, "There are people who can do it. We have more people applying and more people here than ever before. That has got to mean something." With a tenuous balance among...