Word: student
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Dates: during 1970-1979
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...direct aid is still the primary function of the office of financial aid. About 2200 Harvard and 950 Radcliffe students received some form of aid this academic year and this amount will increase in 1979-80. Total direct aid to students, excluding loans and student employment, will reach about $9.9 million next year, topping this year's record total by about...
Recently Harvard's biggest gains have come in the federal sector--a welcome, if uncertain, windfall. A Congress intent on budget-cutting could slash aid to education any time and administrators remain wary of relying heavily on the federal funds. But for this year, the Middle Income Student Assistance Act that Congress passed in October 1978 should double both grants to students and federal work-study projects at Harvard. As R. Jerrold Gibson '51, director of the office of fiscal services, says, "it's the biggest increase for federal aid to education ever--you can't knock that...
...area that Congress cut in this year's budget and one that might decline or even disappear in future years is the National Direct Student Loan program (NDSL), an alternative that offers students loans at 3 per cent interest, as opposed to the 7 per cent Harvard charges on its own loans. Across the nation, NDSL has been plagued by students defaulting on their loans, and Congress dislikes the program. Nor did a 60 Minutes expose of the NDSL's problems in the fall help its reputation. Next year, Harvard will receive $440,000 in NDSL funds, 26 per cent...
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...
Harvard administrators, however, are building their hopes for financial independence on student employment. Congress has more than doubled funding for the College Work Study Program, granting $2 million to Harvard and $400,000 to Radcliffe in 1979-80. CWSP provides a subsidy of 80 per 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...