The application will close in
Status: Open until October 22, 2025 at noon
The CFWM Education Team will be attending a conference and will have limited availability to respond to emails after October 17. We encourage students to complete their applications early so the Education Team can support you with any questions you may have.
Interest-Free Educational Loans
We provide approximately $600,000 in interest-free educational loans to help students pay for educational expenses. Students may receive one $3,000 loan each year they are enrolled in school and can receive a maximum of four loans (a total of $12,000) over the span of their undergraduate, graduate, and/or postsecondary education.
We have two different loans, each with different criteria. Applicants must meet the criteria for at least one loan to be eligible for consideration.
See our Loan Program FAQ for additional information.
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.
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. 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 6: 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
Things to Consider Before Applying for an Interest-Free Loan:
- Students can only receive one loan in an academic year.
- Students can reapply for another loan each year they are enrolled at an accredited U.S. institution.
- Receipt of a loan in one year does not guarantee receipt in another year.
- Receipt of a loan is not guaranteed. Selection is at the discretion of the Community Foundation of Western Massachusetts.
- Loans are provided in the amount of $3,000 per year.
Students can 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 a student borrower graduates or stops attending school.
- 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 issues surrounding paying back a loan should be made to Heartland ECSI at: heartland.ecsi.net
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.
If you are interested in establishing a new educational loan fund, please visit our START A FUND page.