Calendar: 1962-1963 Page 79

BURSARIES 77 granted only when the circumstances of the applicant make such grant necessary and to be subject to revision annually Loans for needy students on the following conditions That the applicant shall be in his final year in College ii That he shall be considered to be of sufficient promise iii That the loan shall be repaid within two years of the time when the student has completed his course and that no interest shall be charged in respect of repayments made within that period The Finance Committee of the Council may however if they think fit ex- tend the time for repayments to maximum period of five years in all on the condition that if such an extension is granted interest at the rate of per cent per annum on amounts outstanding after the end of the second year shall be charged Any surplus remaining in the fund at the end of any academic year shall unless otherwise determined by the Finance Committee of the Council be invested and added to the capital of the Centenary Scholarships and Bursaries Fund ST BONIFACE MISSIONARY COLLEGE BURSARY One annual bursary of the value of £100 has been made available by the Council of St Boniface College Warminster as trustees of the endowments of the former Missionary College which closed in 1941 In establishing this bursary the Council of King's College expresses its desire to perpetuate in partnership with the Council of St Boniface College the intentions of the founder of the Missionary College the Reverend Sir James Erasmus Phillips Bart This bursary will be awarded in the first instance to student from an Anglican diocese overseas who enters King's College to read for the or the combined course at London and War- minster In certain circumstances bursary may be awarded to can- didate from diocese in the United Kingdom who intends to serve in an overseas diocese Each award will be continued for the four years of student's course provided his progress is satisfactory OTHER BURSARIES number of Bursaries are given through the under the Will of the late Mr Richards to assist students in special need in their final year in residence at Warminster In 1943 under the Will of the late Reverend Macrae Vicar of St Olave's Woodberry Down London the Council received the sum of £1 800 for providing three Bursaries to be called Macrae Bursaries for the assistance of students of slender means intending to take Holy Orders in the Church of England