THE first student loan fund of $2,000 was given to the University by the Literary Class of 1894 to establish a scholarship loan fund. The Literary Class of 1897 established a second fund. The first student loan, in the amount of $75, was granted by the University from this fund in 1897, the only loan given during that year. From this small beginning the amount of help given to students gradually increased. In 1955-56, a total of 3,815 loans amounting to $461,583 were granted. In 1956 the University had in its possession 162 separate loan funds donated by various classes, organizations, and individuals. In some cases restrictions have been placed on the use of the funds by the donors. Students eligible to benefit must be from certain classes or colleges, and Page 1861sometimes the interest which a loan may draw is fixed.
Student loan funds are administered by a committee consisting of the dean of students as chairman, the dean of women, and two representatives of the business staff. Each applicant files with this committee a completed questionnaire which requires him to state his need for a loan and includes a budget form to be filled out giving information concerning income and personal expenses. Sometimes a student is required to appear before the committee so that the members may talk with him about his needs before they make a decision on his request. In making a loan the committee takes into account the moral character of the applicant, his scholastic record and possibilities, and his sense of financial responsibility.
Student Employment. — Although both the Michigan League and the Student Christian Association for years had maintained very successful student employment bureaus and each year succeeded in providing part-time work for hundreds of students, before the appointment of Joseph A. Bursley as Dean of Students in February, 1921, there was no official University office where students might apply for employment. In July of that year Bursley set up a Student Employment Bureau, with Mrs. Mary L. Stewart in charge, for the purpose of helping students to find outside work which would enable them to earn, in part, their way through the University. Jobs, ranging from manual labor to highly skilled technical work, were found to fit the talents of the students.
After 1934 for several years thousands of Michigan students were aided by the National Youth Administration, a governmental agency which was established during the depression. The Office of Student Affairs was responsible for the Student Employment Bureau until 1947, when it was transferred to the Personnel Office, which now handles all matters of student employment.