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Salient: Victoria University Students' Paper. Vol. 29, No. 6. 1966.

Loan Needed

Loan Needed

The plan is dependent on loan finance of £450,000. spread over 40 years. If student rentals are to be kept low. a 31 per cent Interest rate is desirable.

The scheme was put to the University Grants Committee. They replied:

"Your proposals have been examined, but I regret that the policy agreed to by the Government does not provide for the making of a loan such as you require to finance the undertaking."

The developer is bitter at the lack of appreciation shown by this letter. He told Salient that, even if his proposals were to be rejected, he would have expected some formal thanks for his work.

The developer—who does not want his name published —has told Salient that the whole scheme was designed with students in mind.

But following the reception which the scheme -received, he has abandoned his interest in student accommodation. "I suppose it will go ahead eventually," he said.

If it does, it will be financed by a group of city commercial organisations, and used to house their staff.