Interest Free Educational Loans

Due to the COVID-19 outbreak and subsequent high school and college closings, the Scholarship and Interest-Free Loan Program application deadline has been moved from March 31 to April 17 at 11:59pm to allow students time to acquire the necessary documents to complete the application process.

We will no longer be requiring students to upload transcripts to their application.

Please email scholar@communityfoundation.org with any questions you may have.


The Community Foundation of Western Massachusetts has two different interest-free educational loans. These loans are available to help pay for educational costs associated with going to college. The two loans have different criteria you must meet to be eligible for consideration. The descriptions provided below outline the criteria for each loan.

There is not a separate loan application. You only need complete the online Scholarship and Interest-Free Loan application, indicate you are interested in being considered for this opportunity, and we will determine your eligibility.

Our Loan Funds:

James W. Colgan Loan
Students who are residents of Massachusetts for at least five years (other criteria may be applied).

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

Things to Consider Before Applying for an Interest-Free Loan:
  • You can only receive one loan in an academic year.
  • You can reapply for another loan each year they are enrolled in college.
  • Receipt of a loan in one year does not guarantee receipt in another year.
  • Loans are provided in the amount of $3,000 per year.
  • You could receive up to, but not to exceed, $12,000 over the course of their higher education.
Things to Know About Paying Back a Loan:
  • Repayment of the cumulative amount of money you borrowed begins ninety (90) days after you graduate or stop attending college.
  • There is no interest added to the balance at any time.
  • Additional fees could be charged if loan repayments are not made on time.
  • All questions and issue surrounding paying back a loan should be made to Heartland ECSI at: heartland.ecsi.net.