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Pound was born in Lincoln, Nebraska to Stephen Bosworth Pound and Laura Pound. Pound studied at the University of Nebraska (B.B. 1892 and M.A., 1895). She continued her studies at the University of Chicago and the University of Heidelberg, and earned her Ph.D. in 1900. She was a professor of English at the University of Nebraska for most of her career.
In 1905 Dr. Pound was a champion of the Order of the Black Masque, senior women's honor society, which became a chapter of Mortar Board National College Senior Honor Society in 1920. Dr. Pound became a member of Mortar Board in that year.
Pound was a member of many professional societies. She was president of the American Folklore Society, 1925-1927. She was the first woman to serve as president of the Modern Language Association (1954–1955). In 1925, with Kemp Malone and Arthur G. Kennedy she founded the journal American Speech "to present information about English in America in a form appealing to general readers". Pound was the First Vice President of the American Association of University Women in the 1940s.
An athlete in her youth, Pound was inducted into the Nebraska Sports Hall of Fame in 1955.
Pound was a sister of noted legal professor Roscoe Pound. Pound and Cather residence halls at the University of Nebraska (Lincoln) are named after Louise Pound and Willa Cather, with whom Pound maintained a close friendship. 
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- Algeo, John (2009). The Origins and Development of the English Language (6 ed.). Cengage. p. 196. ISBN 9781428231450.
- "Pound, Louise." American National Biography. 17:759-760. 1999.
- "Pound, Louise." The National Cyclopedia of American Biography. 46:538. 1963.
- Marie Krohn, Louise Pound: the 19th century iconoclast who forever changed America's views on women, academics, and sports, Clearfield, Utah:American Legacy Historical Press, 2008.
- Nebraska State Historical Society
|Wikisource has original works written by or about:
- Louise Pound papers at Nebraska State Historical Society
- "Indefinite Composites and Word-Coinage" (1913) by Louise Pound
- "The Literary Interregnum" (1913) by Louise Pound
- "Emerson as a Romanticist" (1915) by Louise Pound
- "New-World Analogues of the English and Scottish Popular Ballads" (1916) by Louise Pound