Yale Announces New Plan Deferring Tuition Payment Over Long Term Period

Yale University announced Thursday that it is one of a group of universities negotiating with private foundations for financial support of a long term loan plan for students.

Under the deferred tuition payment plan, the graduating student would pay a percentage of his yearly earnings after graduation, depending upon the amount of tuition he deferred while still in school. The term of the loan could be up to thirty years.

Yale instigated the plan as part of an attempt to meet rising operating expenses while not raising tuition rates, which are already at record levels.

The spokesman named neither the other schools involved in the plan nor any of the foundations approached for support, but indicated that all possible major private contributors had been contacted.

Even though Yale is not the only university seeking help in this way, it is the only one which is hopeful of putting the plan into effect by next year, if arrangements seem firm by January.

An official in the Harvard admissions office contacted last night said that he knew of no similar plans at Harvard and that he had not even seen the Yale announcement.