Records of the Committee on the Joseph N. Pew Memorial Loan Fund

In December 1961, the College received a $25,000 gift from the Pew Memorial Trust. The gift was intended to help the College reach financial stability and to start a drive benefitting interns and residents in area hospitals. In response, the Committee on Internship and Residency was established in 1962. The Internship and Residency Committee sent out questionnaires to Philadelphia-area hospital administrators, residents, and interns. Data collected from residents and interns included marital status, professional goals, whether they had insurance, and whether they had loans from medical school.

The purpose of the questionnaires was to establish whether the Philadelphia area had need of a loan fund (for residents and interns) sponsored by the College. Forty out of the forty-five hospitals contacted responded, and the majority recognized the need for such a program. Approximately 25% of the interns and residents contacted responded, and about 50% of the respondents expressed a need for such a loan.

A second committee, the Committee on the Joseph N. Pew Memorial Loan Fund, was formed soon after the gift was received. The Committee was charged with the management of funds, and of reviewing applications for loans. Based on the funds available, the Loan Fund Committee decided to offer five $1000 loans during the first year of the College’s loan fund program.

Over the next several years, the College received more donations towards the loan fund program, and increased the number of loans granted per year.

It is unclear when the loan fund program ended, but the Committee is not listed in the 1985 issue of Transactions and Studies.

The Records of the Committee on the Joseph N. Pew Memorial Loan Fund span the years 1961 to 1985, and include correspondence, meeting minutes, reports, and applicant files. Researchers should be aware that Series III: Loan Records is completely restricted to internal use (current College employees) until 25 years after the creation date.