Business School Broadens Scope of Student Aid Fund

Students will no longer have to claim financial need to receive aid from the Business School, Stanley F. Teele, Dean of the Graduate School of Business Administration, announced yesterday.

"In order to help men who wish to be financially independent of their parents the school will increase its loan fund from $550,000," Teele said. In previous years assistance was decided such students if their families could afford to send them to the school.

Teele said many applicants are approximately 25 years old and have had previous military or business experience. "It is very hard for a young man who has been in the armed services or is business for several years to return to monetary dependence on his family," he explained.

Although the new policy will cause an increase in applications, Teele said the number of students accepted will not go up. The Business School has a limited enrollment.

The funds for men who come from families which cannot meet the expenses of the school will remain unaffected, Teele said.

The new policy reverses a school law which required that the student and his parents must be unable to pay for tuition and dormitory costs before receiving aid.

This rule resulted in a considerable number of well qualified men not applying to the school, Teele said. "This was unfortunate since many of these men seemed admirably suited to the type of education the Business School offers," he added.