The Community Foundation of Western Massachusetts administers two separate interest-free student loans. To be considered for an interest-free loan, students must meet the criteria provided in the loan description and then indicate their interest in a loan when completing their Scholarship and Interest-Free Loan Program application.
- Apply Online to the Scholarship and Interest-Free Loan program between January 1 and March 31.
- Indicate an interest in receiving a loan on the application.
- Submit a copy of the most recent academic transcript by March 31.
- Submit a copy of the Student Aid Report (SAR) for the 2018-2019 academic year by March 31.
INTEREST FREE EDUCATIONAL LOAN DESCRIPTIONS
James W. Colgan Loan
Students who are residents of Massachusetts for the past five years
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
- 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 of the cumulative loan amount borrowed begins three 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 (UAS)