Today in History revisits the September 3, 1937 edition of the Grand Forks Herald and highlights a story about North Dakota setting up a $50,000 fund to provide student loans, repayable after graduation. Continue reading for more details.

BISMARCK, N. D. — (AP) — Attorney General P. O. Sathre said Thursday the state board of administration has funds from which to make student aid loans available to North Dakota colleges.

Although he did not say from what fund the money could be taken, Sathre pointed out that it need not come from the emergency fund “because other monies are available for this use.”

Under a tentative program outlined by a committee of three state college presidents a $50,000 loan fund would be set up by the state board from which loans would be made to students, payable

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