Emergency loan too small for today's costs

For students in dire financial straits, the financial aid office can supply a $500 loan on a short term basis, but this is not nearly enough.

Unfortunately this fund was established over 10 years ago, and has not been raised to match recent years' tuition increases. In Spring 1987, $500 would have been enough to take care of tuition and fees for a resident student.

Since then, however, non-resident tuition has more than doubled, and resident tuition has more than tripled, with a 100 percent increase within just the past three years.

Today, that $500 would provide for less than a third of a resident student's tuition expense. To be effective, the maximum amount of the loan needs to be raised.

Although it would require more funds to be set aside by the Board of Regents, these loans could be repaid within the semester as student's financial awards come in.

Without an increase, the loan fund is doomed to obsolescence due to future tuition increases, since it will be too small for anyone to use.

If an increase is not possible, perhaps a partnership with a local bank could provide students with a better source of credit. To insure payment, the bank could accept the university's word to hold all degrees as collateral.