Word: fund
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Dates: during 1950-1959
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...Student Council will go outside the College to solicit financial backing for its recently proposed trust fund, Marc E. Leland '59, Council president, said last night. There had previously been some speculation that the Council would attempt to obtain the financial support of the Faculty, but the funds involved in such a venture would be too large for the University, in its present expansion program, to supply...
Estimates of the amount needed for such a fund, the income from which would provide the Council with its yearly operating expenses, have ranged between...
...expenses and future conditions. Harris thinks that the current amount of loans needed is about a billion and a half dollars per year, and by 1970 about two and a half billion. The apparent enormity of the loans necessary does not rule out the plan on paper, whatever actual fund-raising difficulties (the University could attest that there are many) might be. When the general picture of American private debt is considered, however, these figures do not seem so formidable. In the past decade consumer credit went up nearly three and a half billion dollars a year, and mortgage debts...
Perhaps if Harvard combined its scholarship funds with the interest from its investments and had an outside company administer this fund as a loan program, the government could be avoided. But there are other problems. The bookkeeping alone for such a program, keeping track of thousands of thirty and forty year loans, would be of epic size. A great quasi-Social Securities office would have to be set up, and with an inevitable upward rise of secretary salaries and of business equipment, the plan could cost more than it's worth...
Five charities will be included in the drive, she said. Among these are the American Friends Service Committee, the Massachusetts Association for Mental Health, the National Scholarship Service and Fund for Negro Students, Phillips Brooks House, and the World University Service...