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The Chronicle 78Th Year, No The Chronicle 78th Year, No. 67 Duke University, Durham, North Carolina Monday, December 6, 1982 Semans picked as endowment chair By Foon Rhee According to Semans, Mary Duke Biddle Trent although the trust indenture is Semans, a former two-term closely structured according to member of the Duke Board of James B. Duke's concerns, one Trustees, was selected .as of her priorities as chairman is chairman of the Charlotte- to diversify the endowment's based Duke Endowment last programs. "There's not a great week during a meeting on deal of latitude in what we can campus. do, but we always look for Established by University societal changes," she said. "We founder James B. Duke in 1924, try to be as elastic in our the Duke Endowment is a programs as we can be." perpetual trust. An independent The endowment also aids philanthropic organization, the Davidson College, Furman endowment allocated more University, Johnson C. Smith than $12 million to Duke during University t nonprofit hospitals the 1981 calendar year and has and child care institutions in allocated almost $260 million North and South Carolina, since 1924. Annually, Duke retiring Methodist ministers receives more than a third of the and the Rural United Methodist endowment's total allocations. Churches. Semans said the endowment, "I'm terribly pleased to serve which currently receives almost my great uncle and grandfather 69 percent of its annual income PHOTO HY .JKKKY t'HKN [James B. Duke and Benjamin from dividends on Duke Power ON TO FLORIDA — Hardy Knowlton (left) tangles with Connecticut striker Matt Duke]," said Semans, who rises Co. common stock, would also Addington during Duke's 2-1 victory over the Huskies in an NCAA semifinal game from her position as senior vice intensify its efforts to diversify Sunday at the Duke soccer field. For details, see Sportswrap, inside section. chairman to succeed the late its investment portfolio. Robert McCormack. See ENDOWMENT on page 2 Duke's financial aid status remains unsettled said then. "I'm not going to 10 students who had to eliminate all financial hurdles. spring and approximately 70 By Foon Rhee respond [to the cuts] in a withdraw, three were not on It is quite possible that some over the summer left for Though Duke survived the mechanical way. We're going to financial aid. It is probable that students should not go into debt "non academic" reasons. But first round of financial aid cuts, respond in a very human way." the withdrawals of the seven on as the standard financial aid there is no way to ascertain uncertainty still reigns within In a typewritten statement to financial aid were the result of packages require." whether those "nonacademic" the University as more students the Chronicle, Sanford clarified inaccessibility of Guaranteed According to Belvin, the reasons were financial, he fret over financial concerns and his declaration. "I was talking Student Loans, which more significance of students added. administrator-, attempt to find about cuts by the administra­ students were able to get last withdrawing for financial But Belvin emphasized that new ways to assist them. tion of President Reagan and year, he added. reasons is often unclear because the gravity of the situation has In a Chronicle article last not by financial hardship," he This year, students whose the reasons may be "veiled. not been lost on the financial spring, University President said. "Unfortunately, some parents have income above The reason may be valid, but it aid office just because specific Terry Sanford responded to an students cannot stay at Duke demonstrated need were is not discussed with this statistics on the problem are estimate from James Belvin, because of financial hardship, ineligible for GSLs. office," he said. "It can be a unavailable. director of the Office oi and we do the best we can to Sanford said a portion of the multi-faceted reason and "I don • want to suggest that Undergraduate Financial Aid, stretch the funds. I said that at a money raised during the financial aid can be part of the it's business as usual," he said. that as many as 70 students time of some dismay and panic coming Trinity fund-raising difficulty." "It's been a difficult year for all would have to leave Duke that students should not be campaign will go to financial of us. The funds are constricted because of financial aid cuts. "I planning to leave Duke because assistance for students. "One of But, Belvin said, there has considerably and the time don't believe there would be 70 of anticipated federal cuts; that the objectives of the fund been a "severe impact" of apparatus is extremely late. The . but however many there we would be prepared to cover raising campaigns for Arts and financial aid changes on financial aid forms (which are, they can come see me," he these cuts in some manner. Sciences will be scholarship students, especially as a result students on aid have to "Obviously, I was not saying money, which is another way of of narrower GSL eligibility. The complete each academic year that we would have a new fund saying that it will be financial new rules prohibit parents and are usually distributed for financial assistance. ... I aid," he said. earning more than $30,000 per before Christmas vacation j know of no one who has left "I feel a great responsibility year from taking loans. "The won't be available until because of financial 'duress' of to do everything that we can to biggest issue is the GSL, which January 15. the kind we can do anything help students who matriculate has been pulled out from under about. We have not lost any at Duke to complete their parents," he said. "Alternatives "There are so many students because of our failure undergraduate education here," have been taken away." unknowns, but we are confident to meet their demonstrated Sanford said. "Over the years I Belvin said statistics such as that we will meet need with aid need." have helped hundreds to do just the number of "students on and that the University will do Though stating that 10 that, and I continue to do so. financial aid who are unable to all it can to fulfill its students cited finances as their "It is indeed our policy to give return each fall are unavailable. commitment," Belvin said. reason for withdrawing from assistance to the fullest extent Officials in the Registrar's Next: Admissions officers in Duke this fall, Sanford possible, to pattern our efforts to office were similarly unable to the University discuss the reaffirmed his commitment to the individual needs of students compile ' and release such impact of financial aid cuts — STAFF PHOTO financial assistance for with particular hardships, but it figures. According to Harry already consummated and James Belvin. .director of students. is not possible for us to Demik, associate registrar, pondered — on the admissions financial aid. According to Sanford, of the guarantee that . we . can about 90 students during the process. Page Two The Chronicle Monday, December 6, 1982 Endowment British royalty may visit state ENDOWMENT from page 1 "We try to follow a wise and good investment WINSTON-SALEM (AP) - Royalty may visit in ceremony and place a marker in Plymouth Harbor. policy," she said, adding that the endowment has July 1984 as North Carolina begins to celebrate the At the same time, an exhibition of Elizabethan been increasing its holdings of non-Duke Power 400th anniversary of the first English attempts to artifacts and drawings will open at London's British stock. "We try to keep up with societal and settle North America, state officials say. Library and British Museum. The exhibition will be investment changes." "We expect a visit from the Queen of England, or a moved in March 1985 to the North Carolina Museum The relationship between the University and its member of the royal family," said Caroline Harmon of of History in Raleigh. major benefactor, according to Semans, has never the state Division of Travel and Tourism. The committee members discussed the progress of a been better. "You have to remember that James The British delegation is expected to visit Roanoke 50-ton merchant vessel, Elizabeth II, which is being Duke named the University as his main, named Island on July 13, 1984 to commemorate the built in Manteo harbor and will be commissioned beneficiary," she said. "The interest is very deep anniversary of the three I6th century expeditions to during the ceremonies in July 1984. and the ties are very deep. the island, sponsored by Sir Walter Raleigh, that led to "But the ties are without interference, which is the settlement of the Lost Colony. The ship, a replica of the ship Elizabeth that landed extremely important. We're not walking a A committee overseeing the celebration met on Roanoke Island in 1585, will have three 70-foot tightrope. We have a healthful relationship. I feel Saturday in Winston-Salem to check the progress of masts and a 30-foot keel. good about Duke," the events, which will begin in Plymouth, England, on Money for building the ship has been raised by a April 27, 1984 — the 400th anniversary of the private foundation. But Horace Whitfield, the ship's, departure of Raleigh's first expedition. A delegation of captain, said more money is needed if the ship is to be citizens from North Carolina will visit England for the outfitted with artifacts like arms and armour. AAS interest low across N. C. Hy The Associated Press She said black studies programs were "almost like a Enrollment in black studies courses at most North fad that lasted for a short period of time and is gone." Carolina universities has declined as many students On the 16 campuses in the University of North seek instruction that will prepare them for jobs, Carolina system, enrollment in black studies "is not educators say.
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