Educational Loans

Steps To Apply For A Loan:

Step 1.  Click the “apply” link and either create an account or login to an existing account. If you have applied for scholarships or a loan since 2021, use the account you created. DO NOT create a new account. If you are unsure of whether you have an existing account, contact the Education Impact Team at scholar@communityfoundation.org.

Step 2.  Fill out the application. Complete the identification verification form sent to you. Upload your 2025-2026 FAFSA Submission Summary, and ONE of the following enrollment verification documents:

• A copy of your official or unofficial academic transcript showing the courses you are currently taking or will be taking in the upcoming semester.
• A copy of your bill for the current or upcoming semester.
• A verification of enrollment document provided by your college/school (usually by the Registrar’s office).

Step 3. We will review applications as they are being submitted. We strongly encourage students to apply at least a week before the application closes. Staff will be available to assist with applications until Friday, October 17 at 4pm.

IMPORTANT NEXT STEPS TO RECEIVE A LOAN

Step 4. The Community Foundation will email students who are approved for a loan with instructions to create an account in our updated loan distribution service, BILL. Setting up your BILL account is free, confidential, and takes only a few minutes. No subscription is required.
Please note: Setting up your BILL account is separate from setting up your ECSI/Heartland account.

Once your account is created, you can choose to receive your loan by direct deposit or physical check: 

• Direct deposit: The bank account must be in your name. 
• Physical check: If you prefer not to create a BILL account, one will be created on your behalf and your loan will be sent by paper check. 

Step 5. After setting up your BILL account, you will receive a PNI number by email. This number must be shared with the Education Team through the form assigned on our online application portal. 

Step 6. Students will then receive an email from ECSI/Heartland (our loan administrator) with instructions on how to set up their ECSI/Heartland account, complete their loan entrance counseling, and sign their promissory note.  

Awardees must complete the process within 30 days of receiving the email from ECSI/Heartland. Setting up your ECSI/Heartland account is separate from BILL. If you do not complete this process your interest-free loan will be canceled. 

Step 7:  Students will receive their loan payment either by direct deposit or physical check, depending on the option selected when setting up their BILL account. 

Please note: All loan payments are now distributed through BILL, not directly from the Community Foundation. 

If your address changes, please let us know immediately. 

For more information, see our Loan Program FAQ

Our Loan Funds:

James W. Colgan Loan

Students who are residents of Massachusetts.

Margrit H. Sutton-Annen Student Loan

Students who are of Swiss descent enrolled full-time at a two or four-year college.