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Thursday, October 12, 1972
MORE FUNDS FOR NEEDY UNIVERSITY STUDENTS
Extra funds totalling more than $7.1 million have been approved
by the Government for its financial assistance scheme to aid needy
university students in the current academic year 1972-73.
The additional funds amount to an extra $918,000 for grants
and an extra $6,250,000 for loans, bringing the total funds for the year
to $3,780,000 in grants and $9,827,500 in loans.
The extra money is needed mainly because the two universities
have many more poor students than had been expected in 1969 when the
Increases in the cost of living since then have also
scheme started.
played a part.
The Government scheme of grants and loans for students is operated
by the Joint Universities Committee on Student Finance.
Early this year, figures showed that in 1971-72, 59 per cent
of the total student body at both universities needed some assistance in
paying tuition fees and certain unavoidable expenses, and full assistance
for living expenses.
This meant that increases of about 32 per cent in grant funds
and about 200 per cent in loan funds were needed.
The Committee has therefore proposed a method of calculating
funds on a yearly basis which would match them with reasonable accuracy
to a realistic assessment of student needs. The proposal has been approved.
/Commenting