In addition to the aid given students through scholarships, a large distribution of loans made from an independent fund under the control of a board of trustees in Boston has helped many men in the University During the past academic year nearly $8,000 was loaned to 133 students.
This fund was founded in 1888 by ten individual subscriptions of $1,000. Through a growth due solely to the addition of interest and loans repaid, the original endowment has now been swelled to $207,000. Repayments of loans is not forced, but it is found that, by a system of following up the borrowers after they leave College, over 60 per cent. of the needy students thus helped, eventually pay back both principal, and interest.
Besides this independent aid, 75 students last year received loans amounting to $4,000 from the Bursar's office. Many of these loans, given on personal interest-bearing notes at the Bursar's office, are made in Cambridge on the recommendation of certain members of the Faculty.
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