College Loans

The Frank Burgess Memorial Fund was established in 1969 under the will of Frank Burgess. Income from the fund is loaned to deserving students in need of financial assistance. According to the terms of the will, before loans are granted, students must agree to begin repayment within two years after graduation or on entering their “life work,” and to complete repayment within five years after graduation or on entering their “life work,” with interest at 5 percent per annum to begin at graduation or on entering their “life work.”

The Joseph Drown Loan Fund was established in 1983 in memory of Joseph Drown, a friend of the College. Loans are available to deserving students at an interest rate 2 percent below the Federal Stafford Loan Program rate. No interest is incurred during in-school periods, and repayment does not begin until after graduation. Candidates from the western part of the United States receive priority consideration.

The Marshall L. Marquardt Loan Fund was established in 1980 under the will of Mary Sloane Marquardt in memory of her husband, Class of 1933. Loans are available to deserving senior-year students, and are repayable at an interest rate of 3 percent within three years after graduation. The interest begins to accrue six months after graduation.

The Gregory H. Rosenblum Loan Fund was established in 1989 by Miriam Friedman, daughter of Mr. Rosenblum, Class of 1892, and her family in appreciation for the financial aid he received at the College. Students who demonstrate need in emergency situations may borrow up to $250 in interest-free short-term loans in any one academic year, with repayment to be made within one year of the date that the loan is secured.

The Henry B. Sanson Loan Fund was established in 1978 by Mr. Sanson, Class of 1940. Loans are available to students who demonstrate need. Preference is given to students from Connecticut, or those from other New England states if none from Connecticut qualify. Interest at 5 percent is charged on the loans, which are repayable within 10 years of graduation. The Elmer C. Sherman Loan Fund was established under the will of Ida M. Sherman in memory of her husband, Class of 1882. Loans are available to juniors and seniors who demonstrate need and have maintained high scholastic rank during their previous years at Hamilton. No interest is charged, and the entire loan must be repaid within three years after graduation.