ASSISTANCE TO STUDENTS

Evening Star, Issue 20129, 20 March 1929, Page 15

ASSISTANCE TO STUDENTS

MEDICAL FACULTY LOANS VALUABLE SUGGESTION BY DEAN A m beme lor assisting linuut'iall.v embarrassed students to complete their coarse alter passing the second professional examination in medicine was brought before tire council of the Uni versity of Otago yesterday. y “I have been endeavouring to raise a fund, the interest of which is to bo applied, on the recommendation or a small committee of the faculty, m tho form of loans to students who hare passed their second professional examination and are in financial difficulties with regard to the completion oi then medical course,” wrote Sir H. Lin do Ferguson, dean of tho medical faculty “The proposal is that the interest on I v of the'amount joisecl should be used in loans, that the loans should not bcai interest for, say. three years, and that ailer that time they should become in-terest-bearing until such lima as they are repaid by tlie graduate. The amounts repaid will be added to tho capital of the fund in order to increase its usefulness and enable possibly at a hitter date to extend the scope of its benefits. We want to ask lor the co-operation of the council in the matter.

“ In the first place we wish the capital to be in the hands ot a continuing body which has tho mechanism for dealing with trust accounts. In the second place, if the funds are in the hands of the council they would probably carry a subsidy, and from, what the Minister- has told m; cm the subject 1 gather that both he and Cabinet are very favourably disposed towards Ihe scheme. In the third place 1 have asked for assistance from the Dunedin Savings Bank, but have received the reply that it can only give a grant to a corporate body, and that tho application must go in as from tho conn-

en. “ J may state that I have approached a lew ot my own friends and have cash and promises amounting to just o\ er :£f)Ud, and have also a promise of another £lOll to bring the fund up to £2,000. So far as the University College Council is roncerned' 1 am not asking it to undertake any responsibility beyond that of acting as trustee of the turn!, the interest of which will be advanced in the shape of loans on the recommendation of a very small committee ot the faculty, probably three in number. We do' not ask that the council should undertake any responsibility as to the security of loans thus advanced, out we think that we, may lairly ask for the use of the council's office machinery in this connection.

The assistance of the council in approaching the Savings Bank would, i think - , probably cu.sure substantial assistant e from this source, and the council may be fairly requested, in the event of a Government subsidy being eiven. to use its influence in the direction of seeing that the income on Ike subsidy follows the income on donations. If the co incil is prepared to assist us in the application to tho Savings Bank an application from the gistrar asking for Die reception oi a deputation In explain the objects of llio I’und will lid ry.' * Tin; Chancellor (lion. 'I. K. Sidcyi said the council had to thank the dean lor Ids efforts in raising a considerable sum to lorm a nucleus of the Bind. Schemes tor making loans to the students wore in force in the law schools oi America. lie suggested that the letter should be. referred to the Finance Committee. Mr W. J. Morrell said the council was deoplv indebted to Sir Lindo lor t lk- initiative shown in the proposal. The scheme was much better than increased bursaries.

Beplying to a question, the Chancellor saiil several questions concerning filial!<-o would bai’c to be brought beloro the trustees of the Sayings Bank, and that was ins reason for suggesting flint the letter be referred to the Finn nee Committee. The suggestion v.as adopted.