Scholarships Foundation

July 31, 2007

Interest-Free Loan Program
In 2007-08, The Foundation will make loans totaling $2.76 million to more than 600 students. Applications for interest-free student loans are accepted by deadlines of April 15 and November 15, and are renewable annually. Currently, Foundation loan receivables total over $15 million. Approximately 1,600 past recipients committed to lending a hand to the next generation continue to maintain a 96 percent repayment rate on the interest-free loans.
Who Can Apply?

Awards are made on a non-discriminatory basis to applicants of all ages who demonstrate financial need, satisfactory academic progress, and strong character. Residents of St. Louis city, St. Louis county, Franklin, Jefferson, Lincoln, St. Charles and Warren counties in Missouri and the Illinois counties of Clinton, Jersey, Madison, Monroe, and St. Clair are eligible to apply. Undergraduate, graduate, professional and vocational/technical degree-seeking students may borrow up to an annual maximum of $6,000, depending on program grade level. Students enjoy a 12-month grace period after graduation before beginning a five-year scheduled repayment plan. More..

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