July 20, 2024
Loans

Atwood Fund now accepting applications for no-interest student loans


January 06, 2024 3:27 pm
• Last Updated: January 06, 2024 5:36 pm

Stonington ― Continuing more than a century of philanthropic giving, a local organization has begun accepting applications from New London County residents for zero-interest student loans and awards for the coming academic year.

“Our goal as a non-profit foundation has stayed the same in the past 107 years – to continue to help New London County students invest in their futures through our interest-free loan programs to use towards college, trade and tech school and to obtain certification/licensing as well as the awards we provide to senior high school students,” said Fund Director Stacey Haskell on Friday.

The Eugene Atwood Fund, started in 1916 by the owner of the former Atwood Machine Company in Stonington Borough, offers the loans and awards for students ranging from $250 to $5,000 as part of its mission “to aid deserving industrious young people, who are making an honest effort to accomplish the best results in life.”

The fund began accepting applications on Jan. 1 for its College Bound Interest Free Loan Program. The application period will close Feb. 28, and reopen next January.

The fund is also accepting applications for the Eugene Atwood Award for academic achievement and the Eugene Atwood Innovation Award, which funds the purchase of tools and equipment needed for students pursuing a career in a trade.

High school principals may nominate students for the Eugene Atwood Award. Students applying for the innovation award can nominate themselves with a recommendation from their high school principal. All students considered for an award must also write an essay.

Applications for the Trade/Tech School and Certification/Licensing Interest Free Loan Program are accepted on a rolling basis and close when all allocated funding for the year has been disbursed or on from Feb 28. The program will reopen for applications In May.

Available funding varies from year to year, but Haskell said that in the spring 2023, the fund disbursed $78,000 in interest-free loans and $35,612 in student awards including $22,750 for the Eugene Atwood Award and $12,862 for the Eugene Atwood Innovation Award.

Additional information is available at www.eugeneatwoodfund.org.





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