The meeting was called to order at 12:05 PM. In attendance were Professors Moore, Grey, Patch, Vetter and Swartz, Vice President Crady, Students Durand and Pham, Arnold Woods, Tami Hrasky and Jim Sumner

7 proposals concerning financial aid and ways to improve the College's net revenue were discussed in detail.
Professor Moore stated that the College should continue to increase a student's institutional grant and/or scholarship as tuition, fees, room and board increase, and that if financial penalties are enacted for late reapplying returning students, these penalties must be clearly stated up front.

A new, additional idea was discussed; providing low interest institutional loans to no-need/low-need students who are at the low end of the admit group, maybe $5,000 per year. If the student persists to graduation the final year only of the loan is replaced by a College grant in the same amount. This and all of the other suggestions that were distributed in print were discussed for approximately one hour.

Professor Patch suggested that the Committee recommend further exploration of all of the proposals except,
1) Becoming need sensitive in the admission process, and
2) Not increasing returning students' grants/scholarships as our price increases.

The Committee agreed to pass this recommendation along to a Trustee Task Force that is examining this topic.

The meeting was adjourned at approximately 1:05 PM.

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