Repository: UIHistories Project: Book - 16 Years (Edmund James) [PAGE 40]

EXTRACTED TEXT FROM PAGE:

The Income of the University

37

A fund of $100 was established by the class of 1895, only $50 of which was to be lent in any one year. The benefit of this fund is open only to students who at the time of their application are members of the freshman class. The Edward Snyder Loan Fund was established in 1899 by the gift of $12,000 to the University by Edward Snyder, formerly professor of the German Language and Literature. Juniors, seniors and graduate students are eligible to share in the benefits of this fund. A fund of $75 for the benefit of graduate students was established in 1907-08 by the members of the Graduate Club of the University. In 1911 the sum of $409.44 was given by the Woman's League of the University of Illinois as a trust fund to be known as the Woman's League Loan Fund, to be available to any woman properly matriculated in the University, on certain conditions stipulated in the deed of gift. In 1912 Honorable William B. McKinley of Champaign, Illinois, established a loan fund for undergraduate men by transferring to the University notes aggregating about $12,000 which represented personal loans made by himself to students in previous years. It was stipulated that a preference should be shown to upper classmen in making loans from this fund. In 1912 Mr. Henry Strong of Chicago provided in his will for the establishment of an educational fund for the help of self-supporting students of ability and enterprise. An allotment of this fund to certain state universities is made annually by the trustees of the fund. Since 1912-13 the University of Illinois has received an allotment each year, amounting to $500 for each of the first four years and $250 for the year 1916-17. These sums are lent to students in accordance with certain regulations approved by the trustees of the fund. In December, 1914, the sum of $5,000 was donated as the nucleus of a loan fund for students of high character, intellectual capacity and physical vigor, who have completed not less than two full years of work in the University. The loans from this fund, which is known as the Margaret Lange James Student Loan Fund, are made preferably to women students. Subsequent donations—among them a gift of $500 by Mr.