The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1917-01-17
ALUMNI LOAN FUND OF
THE UNIVERSITY OF S. c.

Inc university OI Soutu SaIolua
is the only State University in the
South that has no endowment. This
institution, therefore, is entirely
dependent on annual legislative ap..
propriations for maintenance and
future development. There is never
any difficulty about ordinary main
tenance but development is neces-
sarily slow, as South Carolina is not
a wealthy State and as the demands
upon the legislature are numerous and
insistent. Such an institution as
ours, therefore, must be partly de-
pendent upon it's alumni if we are
to keep pace with the rapid strides
of modern higher education. =,
There are five ordinary ways by
which our alumni can contribute to
the development of their Alma Ma.
ter: % By the establishment OF
an endowment fund; (2) By the
erection individually or collectively
of an alumni building on the cam
pus; (3) By special donations for
the establishment of the grounds
and buildings; (4) By supporting,
in part, athletics; (5) By gifts to
the Alumni Loan Fund.
It is of the last that we shall speak
in this article reserving comment on
IN. y: ers in subsequent contrlhu-
tions to your journal:
The Alumni Loan Fund was Gre
ated February, 1904 to meet the
needs of the poor but worthy stu
dents of the University. During the
eleven years of its activity (1904-
1915) $4,000 have been lent to
students. "The active part of the
fund has been paid out four times
and re-collected three times" as
we learn from the bulletin prepared
by the very competent admlnlstra-
tor, Professor F. w. Bradley. There
are about fifty regular annual con-
tributors. A few others have con-
tributed sporadically. The largest
total contribution was $2,6O2.25
(in 1910) the smallest $3.50 lin
1922. AS there are about 5000
living alumni it will be seen that
the number of contributors is ex-
ceedingly small. IF the alumni ev-
eraged $500 a, piece annually the
Contributions to this fund would
amount to $4,000 a year. AS only
500 is ever loaned to any one ap-
plicant, this would mean that 15O
young men and women would be en-
abled annually to complete their ed,
ucation in addition to those who had
already secured loans from the per-
manent fund. When. these- young
people graduate they naturally be-
come the warmest friends of the in
stitution and the most generous con-
tributors to the fund to which they
3 owe their high educational training:
But better far the State is enriched
by AN increasingly large number OF
highly educated citizens to aid IN
guiding her future career.
It is said that Alexander Stephens,
the Vice President of the Confeder-
acy, educated out of his private
funds. sixty young men most of
whom rendered valuable service In
after life to the great commonwealth
of Georgia. Surely there is no bene-
faction that heaps larger returns
than one that helps to fit men for
career of usefulness and distinction
in life. The interest on such fund
is not to be measured in dollars and
cents but in souls and social service,
the value of which is beyond COM
puts.
portance of timely aid to the strug-
eler after the higher things of the
intellect. My own father could not
: have graduated ir 1882 at the Uni
versity of South Carolina had it not
been for the generosity of wealthy
gentleman in Southern South Caro-
s lima ard an opportune loan from
!, the Aid Fund Of Washington and
Lee University enabled the writer
to complete his college course.
feel it keenly, therefore, when q
young man is compelled to forego
altogether the advantages OF college
training because of lack of funds or
for the same reason has to leave the
University before he graduates
There are pathetic cases of this
kind every year, not to speak OF ths
larger number who suffer in silence
from the unfulflled desire for
higher education.
In spite of these facts benefactor
continue to build memorials ant
contribute funds for the advance
ment of various educational inter
ests-all admirable objects of mum
icence in themselves; but compare
lively few have realized the import,
ance of making men of character
and education always the finest as
sets of any commonwealth. By
means of the Alumni Loan Fund
which has been in existence only
twelve years, seven ministers, as
teachers, ID lawyers, six legislators
"a business men, four magistrates
two doctors and three county super
intendents of education have been
enabled to complete their college ca.
reers. Two hundred and thirteen
have been aided altogether and 2C
are being helped this year. This is
a fine showing and should encourage
eyery alumnus to do all in his power
to enlarge and perpetuate a fund
that does so great a service to the
University and to the State.