University of Virginia Library

Seven Society
Adds To Fund

In celebration of Mr. Jefferson's
birthday, the Seven Society announced
Monday an increase of $7,777.77 in the
capital of its Loan Fund.

The Loan Fund, begun in 1947 by the
Sevens with a balance of $17,777.77 has
continued to benefit members of the University
community. Since its inception, the available
capital of the program has grown to nearly
$250,000.

It was the original plan of the Society that
funding be provided on the basis of a student's
integrity with no written evidence of obligation
to repay other than a simple receipt. Since that
time, the program has given approximately 600
loans with an average request of between three
and six hundred dollars.

Failure to repay loans results in an average
loss of $300 per year; yet, the Society does not
feel that this amount is "too great a price to
pay for the sustenance of a functioning
memorial to our faith in the University's Honor
System and in the spirit of mutual trust which
has pervaded the Grounds for over a century."