The early days
The introduction of the Wyndham Scheme in 1960
The introduction of the Wyndham Scheme in the 1960's could have spelled the end of the Bursary Fund as the whole of the College Family focused on the College Building Fund Appeal. Indeed the finances of the Bursary Fund were having difficulty with the rapid rate of inflation being experienced at the time.
Growth of the capital in the Bursary Fund was for a long time far less than might have been expected on the basis of the original aims and aspirations.
However, there have been a number of significant periods in the life of the Bursary Fund which has stimulated interest and created opportunities from time to time, the St. Joseph's College Centenary in 1981 being one very prominent occasion.
With the strong support the Old Boys' Union receives from its outstanding number of Life Members and a number of Bequests, the Bursary Fund has grown in recent times to a level where some meaningful assistance can be provided, however the low investment returns available in recent times from fixed deposits has seen a decline in income earned on the capital of the Bursary Fund.
"Consequently, resources are limited and consideration of applications will always be based on hardship."