How do you guys feel about the word "alum" being used as a substitute for "alumnus"?

I love the 1960 movie "Where The Boys Are," which was the very first teen beach movie. It stars Connie Francis, a pre-tan George Hamilton, and Frank Gorshin (the Riddler), among others. It explores changing sexual mores in a way that was revolutionary at the time, but are hilariously dated today.