University of Virginia Library

Expansion Outstrips Increase In Funds
As Percentage Receiving Aid Decreases

By Chris Donart
Cavalier Daily Staff Writer

—Ed.

"University funds are growing, but
probably not as fast as the University is
growing," Edgar A. Eldridge, Director of
Financial Aid, has stated.

Statistics released by the Office of
Financial Aid show that the number of
students at the University who receive aid
has increased from 904 to 1,054 from
1966 to 1970. During the same time
period, total enrollment of the University
increased from 7,873 to 9,735. (See
table.)

Percentage Decreasing

The amount of scholarship money granted
increased from $733,223 to $1,252,913 during
this same time period.

Phil Chabot, coordinator of the Student
Council Special Committee on Growth, has said
that "although the overall number of students is
increasing and the amount of aid is increasing,
the percentage of those students receiving aid is
decreasing."

Mr. Chabot said that Council concluded from
statistics that marginal aid students who might
have been receiving aid would, due to increased,
enrollment, be required to find other means of
financing their education.

Federal Funds

Federal funds, Mr. Eldridge stated, have
kept up with growth. He said he felt that the
reason these funds have been provided, is that
he has been able to request increased amounts
for the University based on increasing student
need.

Allotment of state funds in currently under
major review. "The state realizes the need to
keep up with growth," Mr. Eldridge continued,
adding that the state legislature has ordered a
state plan to be drawn up.

The third major source of scholarship funds
is contributions from private sources. Mr.
Eldridge said that the University has a
considerable private endowment. Efforts will
need to be expanded in this area, he added, if
sources of financial aid are to keep up with the
growth of the University.

Richard L. Godein, newly-appointed
Director of Development, will be involved with
developing funds through alumni sources.

The Office of Financial Aid, Mr. Eldridge
said, is currently able to meet he needs of all
students applying for aid. The amount of aid a
student receives is calculated according to an
estimated minimum cost-of-living figure of
$2,200 for in-state students and $2,700 for
out-of-state students.

An analysis of need is based on such factors
as the Parents' Confidential Statement and the
amount that he Office o Financial Aid feels the
student himself is able to contribute. The
University then provides the amount it feels the
student needs. The form in which the funds are
provided - scholarship, work-study, or loan -
is based on the student's academic performance
at the University.

About 2,000 students are currently receiving
aid. The largest one expenditure of the
University involves federal loans, which total
$630,000.