FOUNDATION GIVES AID TO ELEVEN STUDENTS

Since its affiliation with Dartmouth College in 1923, the Harmon Foundation has been able to extend its service of loaning funds for educational purposes to 11 Dartmouth students.

These loans have been made on a strictly business basis, as it is the belief of the Foundation that in this way alone, the student can acquire knowledge of and responsibility in business rules with which he will meet after college. Unlike others making loans on this basis the Foundation has asked as collateral security only sound character excluding the security required by life insurance or property endorsement.

The Harmon Foundation considers the student borrower, after he has paid up his obligation under the easy method of repayment in use, has materially benefited himself and also the general student body. He has benefited himself by developing saving habits and by establishing a character credit that will be of value to him in business. He has benefited the student body as a whole by showing that student paper, properly safeguarded, is worth its face value and that the investment of the principal of funds in student loans as well as the income therefrom is justifiable.

The Division of Student Loans of the Foundation in its first three years of operation has assisted 760 students by loaning the principle and income of its funds, while had this money been restricted to the use of the income at the rate of six per cent only 91 students could have been aided in this same length of time.

The appropriations to the College from Harmon Foundation have been $lOOO each year. Dartmouth's appropriation during the year 1923-24 was made from the fund of Mr. Harry H. Powell of New York and in 1924-25 from that of Mr. John H. Storer of Boston. Both funds were turned over to the Foundation for administration.