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Chiropractic Student

Trust Fund

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The NSW Chiropractic Student Trust Fund was established on 26th March 1964 when a Trust Deed was made between Stanley William Bolton, Owen James Martin and Beverley Hunter Job and the New South Wales Branch of the Australian Chiropractors' Association.

S.W. Bolton was a  founding member of the ACA, O.J. Martin graduated in 1940., Beverley Job was a patient of Owen Martin's and a councillor on Warringah Council.

At this time there was a concern over the supply of chiropractors with mainstream training, particularly in light of the financial difficulties caused by travel to the USA. One of the original concepts of the fund was to put Australian students on a geographically equal footing with their American counterparts by assisting with the cost of a ship fare. Early beneficiaries had their grants paid directly as tuition fees to Palmer College. Tuition fees at this time were about US$200.00 per quarter or roughly $3000.00 per quarter in today's dollars.

The fund was initiated by a motion moved by Stanley P. Bolton, seconded by James Maxwell at a committee meeting of the ACA (NSW Branch). James Maxwell made the initial offer of fifty pounds to establish the fund.

This was an extraordinarily generous offer, being the equivalent of $18,000 in 2008.

Prior to the appointment of the current trustees in 1996 the fund had not made a loan for 6 years. From the fundís establishment in 1964 until 1990 it had assisted a total of 25 students.

As the fund appeared to exist without purpose moves were made to wind it up and transfer the funds to the Australian Spinal Research Foundation.

A proposal was made to continue the fund with the support of the Chiropractors Association of Australia (NSW). New trustees were appointed and the CAA resolved to give an annual donation of $10,000.00

By 2008 the fund had made 45 loans to the value of $158,000 to 40 chiropractic students. This may not seem a large sum  but to the students involved it has made all the difference.

9  of those students obtained their training overseas, the remainder obtained it in Australia and one received a travel grant for post graduate research.

The total assets of the fund in 2008 consist of  approximately $270,000.00

From it's inception the trust fund has provided valuable financial assistance to a number of chiropractors. Several of those who benefited from the trust  have related how it "saved their lives" at the time. The condition that beneficiaries must return to NSW has meant that a number of chiropractors have returned to NSW to practice when otherwise they would have gone elsewhere.

For a number of beneficiaries who have returned and had major impact on the association and the profession the "return" on those funds is beyond calculation.

 While there are students of chiropractic there will be those to whom expenses incurred during their training will create hardship. In particular there will always be students whose desire to become a chiropractor is restricted or postponed due to financial constraints.

 For these students, and for the benefit to the profession in years ahead, the trust fund seeks to provide financial assistance in the form of low interest loans or grants.

 
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