Word: scholarship
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Dates: during 1950-1959
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Morgan explained to Howell the committee's objections to the then extant $600 limit tax law, describing how it stifled initiative, hindered the student who is perhaps most to be commended from helping himself, and handicapped college scholarship and loan boards, which could use their funds to provide more people with educations if students could cut down their scholarship needs by employment...
...awards to '57 broke a long-standing precedent, and a general rule still used at many colleges, of not allowing freshmen to borrow from the school. "If, how-ever, we know the freshmen well enough to give them scholarship money," Munro said, "we can certainly feel justified in awarding them loans...
...loan plan allows greater flexibility both to students who get scholarships which do not cover all their need, and, also, to students not awarded any outright gifts. Previously, if a scholarship student needed aid above scholarship funds, it was necessary for him to work. He now has the option of taking a loan instead, or of decreasing his work load and taking a smaller loan...
Financial Aid in the form of loans was particularly applicable to the Class of '58, since it suffered a scholarship cutback, which was intended to compensate for a larger number of awards and acceptances in the Class of '57. Percentage of students on scholarship in the class was trimmed to the level of the Class...
...extra funds will probably be used to provide additional support to the new German Exchange Student program, begun this year and to increase funds in the Council's undergraduate scholarship program, which will be administered this year for the first time by the Financial Aid Center. Some also will be given to two Council committees, one on religion at the University, another on the freshman year. The remainder will be placed in the bank for emergencies...