Interest Free Educational Loans

 

The Community Foundation of Western MA administers two separate interest free student loans.  To be considered for a loan students must meet the criteria provided in the loan description and apply to the Scholarship and Loan Program.

 

APPLICATION PROCESS

  1. Apply Online to the Scholarship and Loan program between January 1 and March 31.
  2. Indicate an interest in receiving a loan on the application.
  3. Submit a copy of the most recent academic transcript by March 31.
  4. Submit a copy of the Student Aid Report (SAR) for the 2017-2018 academic year by March 31.

INTEREST FREE EDUCATIONAL LOAN DESCRIPTIONS

James W. Colgan Loan
Residents of MA for the past five years

Margrit H. Sutton-Annen Student Loan
Students of Swiss descent enrolled full-time in a two or four-year college

LOAN TERMS

  • Students are eligible to receive an interest free loan of $3,000 in a given academic year.
  • Students may reapply for a loan in subsequent years.
  • Students may receive a cumulative total in loans up to but not exceeding $12,000 over the course of their higher education.

Repayment

  • Repayment of the cumulative loan amount borrowed begins three (3) months after a student graduates or stops attending college.
  • No interest is charged to the cumulative loan amount.
  • If payments are not made on time, additional fees may be charged.
  • All repayments are done through University Accounting Services (UAS).
  • All questions regarding loan repayment can be directed to:

University Accounting Services

1-800-999-6227

www.uaservice.com