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Howard Bayne Foundation
In 1995, the Board of Directors for the
Howard Bayne Fund voted to award a grant in the amount of $11,000.00 to Hostos Community
College. These funds were donated with the condition that our institution administer them
as a student loan program. Upon receipt of these funds, the College Advisory Committee
passed a resolution to accept these funds on behalf of the students at Hostos Community
College. They further indicate the need to improve retention for our students and to
specifically assist them with the reality of
"...sudden financial emergencies that arise for those who live in
poorer communities of the city: Fires, housing, family medical emergencies, burglaries,
spouse abuse and subsequent necessity to move into shelters, etc.." Howard Bayne.
Since the Howard Bayne Fund's initial
donation of $11,000.00, the College has received an additional contribution of almost
$20,000.00. Due to the administrative capability of the Office of Financial Aid and the
Business Office, over 200 students have benefited from these emergency funds. The Office
of Financial Aid has also secured over 65% of its original disbursements from loan
repayments. As a result of these efforts, it is now a revolving account that continues to
provide vital support to our college community.
NOTE:
There is NO interest on the Bayne Loan.
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