In the past 59 years, the auction and student loan program has grown dramatically. The fund has provided over $8,969,349.00 to area students to further their post high school education. Over 9,000 students have benefited from this work. In 2005 alone, over $250,000.00 was loaned out to more than 200 students.
And though the auction has brought in more than $3,000,000.00 in the last 16 years, the demand for loans has exceeded the success of the auction. For instance, in the year 1990, due to the cancellation of several government assistance programs, our program provided $426,000.00 to area students. That amount far exceeds the auction proceeds. To meet this demand, our Rotary Club borrowed money from local banks so that no student would be turned down in his or her request for funds.
Presently the Hopkinsville Rotary Club and the Student Loan Fund is on solid ground. The money borrowed in 1990 has been repaid, and we are continuing to fund over $400,000.00 to students each year. Our goal for this year is $260,000.00, and your contribution will help us to reach that goal and provide deserving students with the assistance they need in order to further their education. Last summer, we awarded $100,000.00 in scholarships and have recently implemented a part time education program.