EUGENE ATWOOD FUND
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    • Interest Free Loans - College Bound
    • Interest Free Loans - Trade/Tech Schools and Certification/Licensing Program
    • Eugene Atwood Award - Academic Achievement Award
    • Eugene Atwood Innovation Award - Tools/Equipment
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Interest free loan program
​College Bound Students

Eligibility - Interest Free College Bound Loan Program


  • Applicants must reside in and  have lived in New London County for at least two years prior to the date of their application.
  • Applicants must have earned a high school diploma with a minimum cumulative grade point average of 2.5. Alternatively, applicants may have successfully completed the General Education Development (GED) tests to obtain a high school equivalency certificate.
  • Applicants must be U.S. citizens.
  • Individuals must  agree to full repayment of their loan with an understanding that repayment provides funding toward future student loans.
  • Individuals with a history of educational loan default or bankruptcy are not eligible, although, The Eugene Atwood Fund will consider extraordinary circumstances.
  • Students who have already obtained a bachelor’s degree are not eligible to apply.
  • Co-signer is required. 

HOW TO APPLY

We will begin accepting applications for on January 1, 2026, with a due date of February 28, 2026.   Interest free loan applications can be found HERE. 

​After creating your login information please choose one of the following applications:
  • ​2026-2027 College Bound Student Loan Application for First Time Applicants
  • ​2026-2027 College Bound Student Loan Application for Returning/Reapplying Students (choose this if you have been given a loan previously)

​Check back again on January 1, 2026, to begin your application process. 
​
LOAN APPROVAL PROCESS
​
The Board of Trustees reviews all applications in April.  Approval of interest free loan recipients is at the discretion of the Board of Trustees.
​
The amount loaned to an individual varies from $500 to $10,000 each year depending upon the student need and availability of funds. If a loan is granted, it is paid in two installments: one half in August and the balance in December, made payable to the school and the student.

Many students also contribute back to the Fund more than their loan amounts to help make additional funds available for the next generation.

LOAN REPAYMENT

The Eugene Atwood Fund provides interest free education loans to students who are residents of New London County. The repayment term is from the date the student (borrower) and parent/guardian/co-signer (guarantor) sign the promissory note agreeing to the loan and loan terms.
Loan payments will be due following the date the borrower cashes the check issued by the lender. 
 
The loan term is twelve (12) years. Repayment is due monthly between the 1st and 20th of the month (as selected by borrower)
While in attendance of higher education programming, the monthly payment will be fifty dollars ($50.00) not to exceed forty-eight (48) months from the Funding Date. Following either the conclusion of higher education programming or forty-eight (48) months, whichever comes first, the outstanding balance shall be re-amortized which may result in a higher monthly payment and will account for the months already paid not to exceed twelve (12) years in total from the funding date, but in no event shall the monthly payments hereunder be reduced below fifty dollars ($50.00) per month.

The Eugene Atwood Fund is a non-profit private foundation and is not similar to federal loan programs.  Therefore, loan repayments cannot be deferred for any reason including attendance in graduate school or continuing into a program higher than four (4) years. 

Please note, The Eugene Atwood Fund reserves the right to charge additional fees (i.e. late fees, administrative fees) to the borrower/guarantor due to non-payment and may forward your account to our collection’s attorney, if ​necessary.

​
*The Eugene Atwood Fund is a private non-profit organization that has been providing New London County, CT area students with interest-free loans for over 100 years.  We are not associated with the federal loan program.  Loan payments cannot be deferred or forgiven.  Failure to pay will result in credit reporting as well as being forward to our collections attorney up to and including legal action. *
​

email: [email protected]
​

Telephone:  860-535-0005

Conflict of Interest Policy

A conflict of interest policy is intended to help ensure that when actual or potential conflicts of interest arise, the organization has a process in place under which the affected individual will advise the governing body about all the relevant facts concerning the situation.  Our conflict of interest policy is also intended to establish procedures under which individuals who have a potential conflict of interest will be excused from voting on such matters.

No governing members of  The Eugene Atwood Fund Board receive any compensation nor financially benefits from the organization.
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  • Programs
    • Interest Free Loans - College Bound
    • Interest Free Loans - Trade/Tech Schools and Certification/Licensing Program
    • Eugene Atwood Award - Academic Achievement Award
    • Eugene Atwood Innovation Award - Tools/Equipment
  • About Us
    • Board of Trustees
    • Trade and Tech Committee
    • Director
    • Testimonials
  • Contact
  • Resources and Links
  • News