Word: monro
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Dates: during 1950-1959
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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...
University officials on the corporation's board of directors include: John M. Bullitt '43, associate professor of English; Dustin M. Burke '52, director of Student Employment; John U. Monro '34, director of the Financial Aid Office; and Robert B. Watson '37, Acting Dean of Students...
...John U. Monro, Director of the Financial Aid Office, predicts that the pressure of expansion will result in sweeping changes in the financial aid policies of American colleges. First, there will probably be a substantial increase in loans rather than scholarships to meet the rising tide of enrollments. More people can be assisted through loans, Monro explains, and they put less of a drain on college resources...
Whether Harvard will adopt such a policy, it is too early to tell. Certainly scholarship money will always be available here for able students who have a pressing need, and Monro hastens to say, no one will be denied admission merely for the inability to pay the full cost. But a 20 per cent increase in students is going to tighten pressure on the Financial Aid Office, and an increase in loans rather than scholarships would be one way of relieving...
...Monro's second prediction is that college tuitions will rise sharply in the next few years. There are a great many people who could pay more than the $1000 that Harvard charges and thus reduce the annual excess of expenditure over income per student. The money saved here could be poured into aid for needier students and into faculty salaries. It seems quite likely that Harvard will have to raise its tuition soon. In an article on faculty salaries, Dean Bundy has said, "We face needs so great and urgent that we shall probably have to plan for both...