Applications open on January 1, 2026, with a due date of February 28, 2026.   Interest-free loan applications can be found HERE.  

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) signs the promissory note agreeing to the loan and loan terms. The college-bound loan term is twelve (12) years.  A monthly repayment amount will be established by The Eugene Atwood Fund based on the total amount loaned but will be no less than $50.00 per month.  The established repayment amount will be paid monthly until paid in full and will be no more than twelve (12) years.    [For example:  a loan totaling $3,000 with a monthly payment of $50.00 per month will be due to be paid in full within five (5) years.] 

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

Loan repayments begin one month after the student graduates, or immediately if termination of enrollment occurs and will continue monthly until payment is completed in full.

Please note, The Eugene Atwood Fund reserves the right to charge additional fees (i.e. late fees, administrative fees) to the borrower 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. *