ࡱ> \^[ &bjbj m  00000DDD8|4D"|e"g"g"g"g"g"g"$b$'"0""00%"o!o!o!:00e"o!e"o!o!o! Mvo!Q""0"o!'\'o!o!~'0!do!""P"' : ELIZABETHTOWN ROTARY CLUB STUDENT LOAN PROGRAM Student Loan Committee Elizabethtown Rotary Club Elizabethtown, PA 17022 Email: EtownPARotary@gmail.com Dear Applicant: Please find attached the guidelines and an application for the Elizabethtown Rotary Club Student Loan Program as requested. All applications are due by June 14. Please complete and return this application with corresponding documents to the address listed above. Applicants will be contacted by the second week of July with a decision regarding their application. We will schedule appointments for loan document signing and to disburse funds within the two weeks following. Thank you for your application and we look forward to assisting you with your financial needs. Sincerely, Kevin Dolan Kevin Dolan Student Loan Chairperson Attached: Guidelines; Application ELIZABETHTOWN ROTARY CLUB STUDENT LOAN PROGRAM 1. PURPOSE: To encourage and assist undergraduate students to prepare themselves for advancement and to better serve society. Loans are available to high school graduates who reside within the territorial limits of the Elizabethtown Rotary Club as defined by Rotary International. (Note: Transient residents are not considered as eligible recipients.) The student should possess a good scholastic record, good character, motivation, participation in extracurricular activities and good work ethic. In addition to submitting an application for assistance, high school applicants must also submit a Guidance Counselor recommendation, a Student Aid report and possess a GPA of at least 74. Applicants already enrolled in a college or technical school must submit a Student Aid report and transcript showing a GPA of at least 2.0. Loans shall be restricted to those who cannot afford their college, university or technical education without financial assistance. Applicants may select the school of their choice, provided that the institution meets with the approval of the members of the Student Loan Committee. Application and loan disbursements are considered for only one academic year at a time. Applicants must reapply to continue any aide beyond one academic year. Each application will be considered separate of any prior application. 2. LOAN TERMS: Each loan is considered an unsecured loan, guaranteed by the signature of the student as well as the signature of the parent or legal guardian on a promissory note. Interest will not be charged during the course of the students attendance at an educational institution. Upon termination of the education, interest will be charged at the rate of 6% per year. This is a simple interest loan. The repayment terms shall be: Interest only for the first year out of school. For loans totaling $3250 or less, the loan will be amortized into a three-year period. For loans over $3250, up to a five year amortization will be used. Students will be sent payment books when repayment is required. This is a financial obligation for repayment. As such, late or non-payments of this loan after set up on repayment will be treated as a delinquency and will be reported to the credit bureau as such. Any payments made after the due date are subject to a 5% late fee. 3: OTHER INFORMATION: Loan amounts should be limited to the amount that the student requests with a maximum of $3250 per year and $13,000 lifetime to any one student. The maximum amount in any one-year may fluctuate depending on the funds available to lend and the number of approved applications. Loan amounts may also vary each year based on need as well as current economic conditions. Please contact us also if there is any change in institution attending, change of major, change of address, or termination of education/graduation. (rev. 06/18) ELIZABETHTOWN ROTARY CLUB Student Loan Fund STUDENT LOAN PROGRAM P.O. Box 89 APPLICATION Elizabethtown, PA 17022 Date of Application: ______________ For Academic Year: ____________ Name: _________________________ Home Phone: __________________ Address: ________________________ Cell Phone: ___________________ ________________________ Date of Birth: __________________ High School: ____________________ Year Graduated: ________________ Course of Study: _________________ GPA (must be at least 74)*: ______ Scholastic Achievements: __________________________________________________ Extracurricular Activities: _________________________________________________ Community Service: ______________________________________________________ College Attending: ____________________ Expected Year of Graduation: ____ Major / Minor: _______________________ GPA (must be at least 2.0)*: ______ Reason for Major: ________________________________________________________ Scholastic Achievements: __________________________________________________ Activities / Community Service: _____________________________________________ Financial Information: (Note: Applicant Social Security Number will be required when loan is confirmed.) Have you applied for a PHEAA loan? _________ If so, how much? ______________ Will you be working part time at school? _______ If so, where? __________________ What are your expected annual college expenses: Room/Board: ______________ Tuition: _________________ Books: _________________ What funds are you expecting annually: Student: _________________ Parents: _________________ Grants: _________________ Loans: _________________ Rotary Loan: ____________ Why should you be considered for a Rotary Student Loan? _______________________ _______________________________________________________________________ References: First Second Third Name: _________________ __________________ __________________ Address: _________________ __________________ __________________ _________________ __________________ __________________ Phone: _________________ __________________ __________________ Applicants Signature: ____________________________________________________ ELIZABETHTOWN ROTARY CLUB STUDENT LOAN PROGRAM PARENT/COSIGNER INFORMATION Date of Application: ________________ Parent Name: ______________________ Parent Name: ________________________ Address: ______________________ Address: ________________________ ______________________ ________________________ Home Phone: ______________________ Home Phone: ________________________ Cell Phone: ______________________ Cell Phone: ________________________ Employer: ______________________ Employer: ________________________ Address: ______________________ Address: ________________________ ______________________ ________________________ Work Phone: ______________________ Work Phone: ________________________ Position: ______________________ Position: ________________________ Time at Position: ________________ Time at Position: __________________ By signing below, you are applying to be a co-applicant for this loan. If, for any reason, the student defaults on the loan or payments, you are signing that you will then be responsible for the remaining loan balance. (Please note that if assets of the co-signer are joint with another individual, then BOTH persons must agree to co-sign for this loan.) Co-Applicants Signature: ________________________________________________ Co-Applicants Signature: ________________________________________________ * In addition to this application, please be sure to return the most recent school transcripts, student aid report and guidance counselor recommendation. If you are already in college, the guidance counselor recommendation is not required. Thank you for your application.     &'+,56t.    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