Word: monroe
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Dates: during 1950-1959
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...colleges will study the idea of John U. Monro '34, Director of the Financial Aid Center, to end abusive competition for promising secondary school students among colleges...
...education are constantly increasing, when the College's tuition has jumped $200, these men are striving for the most equitable distribution of scholarship funds. Over 1000 men were awarded scholarships last year, yet few understand the actual process in determining the size of stipends, as outlined by John U. Monro '34, Director of the Financial Aid Center, in a recent report to the College Boards...
...three years ago Monro and his associates used a nice simple mathematical equation known as the "15 per cent" rule. The administrators would calculate 15 per cent of the not family income as a basic expected contribution. From this expected amount they would subtract $100 for each child in public school, and $200 for each one in private school or college. But the dean reading the folder was also expected to use his own judgment in evaluating family assets. The rule might have worked, had one person read all the applications. But with several readers all making recommendations, there...
...determining income," according to Monro, "we have two lines of attack. Our first assumption is that a family is obliged to maintain a child to provide food, shelter, clothing etc. We calculate this cost of basic maintenance at 12 per cent of the net family income for one child; at 10 per cent for two children; and eight per cent if there are more than two children. Because our expense budget covers the maintenance cost for about nine months out of the year, we count on receiving three-fourths of our "obligatory maintenance" figure for the year. For example, taking...
...first year with this system, the committee found that most scholarships were either raised or lowered $200-300. As Monro says, "We moved up the stipends of the needy at the expense of those men relatively well off. How important is this? Terribly important, if we gave a very needy student, out of old habit a $600 scholarship when he really needs $800 it may be very hard for him indeed. It leads him perhaps, to work 25-30 hour's a weeks for wages, sacrificing academic work, extra-curricular activities, even his health in the desperate effort to cope...