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Maude Abbott Loan Fund
The Maude Abbott Loan Fund (MALF) was established in 1939 to commemorate the outstanding contribution made to medicine in Canada by Dr. Maude Abbott (1869-1940). Dr. Abbott was a founding member of the Federation of Medical Women of Canada.
The MALF is a repayable loan of $1,000.00. The loan is available on an annual basis to a female medical student member of the Federation. Priority will be given to first time applicants however the same student may apply annually for a maximum total of four loans. Although priority is given to medical students, resident members will also be considered on a case-by-case basis.
Once submitted, the loan applications are verified as complete by the National Office.The applications are then forwarded for consideration to the Awards Committee. Each year the Treasurer informs the Award Committee of how many loans can be issued for that calender year. Although variable, in general there are usually three loans available per calender year. With this knowledge in hand, the committee reviews all available applications and makes its recommendations for loan approval to the board at the Interim and/or Annual Board Meeting. Deadline dates for applications will be just prior to the Interim and Annual Board Meetings and clearly listed on the applications. Once a board decision is reached on a loan application, the Awards Chair will notify the loan applicant. If successful, a promissory note will be mailed out to the applicant. Upon the return of this note (signed and witnessed), a cheque for the $1000 will be forwarded.
MALF Loans fall due one year after the date of graduation of the successful applicant. A minimum of twenty percent of the total loan value shall be repaid per year without interest penalty. If not paid, the rate of interest owing on the total loan will be set based on the Bank of Canada prime lending rate effective the date of graduation.
2011 Loan Application Process:
Deadline for applications is December 31, 2010.
1. A letter of recommendation from the Dean, or his/her representative, attesting to the character of the applicant;
2. A transcript from the medical school(s) attended by the applicant; and
3. A personal letter from the applicant stating the reasons why loan is required.
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