Temple University’s School of Medicine has received a testamentary commitment from an alumnus, Stephen E. Stevens, M.D., for $1.5 million to establish a low-interest loan fund for medical students in financial need.

“Dr. Stevens’ support will make a real difference in the lives of future medical students,” said President Ann Weaver Hart. “Temple offers one of the best medical educations in the country, and Dr. Stevens’ generosity will make it more affordable for generations of students to come.”

Stevens, a 1954 graduate of the School of Medicine who also performed his residency in psychiatry at Temple University Hospital, has enjoyed a long career practicing in California and Hawaii.

An author and investor, Stevens said he wants to help make a medical education possible for students who might not otherwise qualify for loans. His gift will be conveyed to Temple upon his death.

Temple University’s School of Medicine is dedicated to educating and training students to be outstanding physicians who are thoroughly prepared to meet the world’s medical needs. The School of Medicine teaches approximately 720 medical students, 140 graduate students and 500 residents.

The gift comes amid Temple’s “Access to Excellence” campaign, a comprehensive development effort. The university has raised nearly $300 million toward a goal of $350 million. The campaign will conclude Dec. 31, 2009.