Student Loans and Parent Loans for (Dependent) Undergraduates

Undergraduate and graduate students attending a college/university may receive a loan with no interest accruing while the student is enrolled full-time in a degree program. The program is now open for 2009-10. The interest rate for new student borrowers is 5.5%; the interest rate for new parent borrowers is 7%. A loan fee of up to 4% may be charged at disbursement of loan proceeds. For 2009-10, the loan fee is discounted to 2%.

There is a separate Theological Student Loan for Inquirers and Candidates.

Criteria

• Be members of the Presbyterian Church (U.S.A.);
• be U.S. citizens or permanent residents of the United States;
• demonstrate financial need;
• give satisfactory evidence of financial reliability;
• be enrolled full time;
• be in good academic standing;
• be working toward a degree in a college or university that is fully accredited by its regional accrediting association.

What is ‘financial reliability’ for a student or parent loan?

Range of Loan

• Undergraduate
  • First year $1,500.00
  • Second year $2,000.00
  • Third year $2,500.00
  • Fourth year $3,000.00
• Graduate
  Up to $6,000.00 (no more than $3,000.00 per academic year) divided evenly between the number of academic years remaining.
• Maximum Amount:
  • $9,000.00 Undergraduate
  • $6,000.00 Graduate

Deadline

July 31, 2009

Application

Applications for the 2009-10 Student and Parent Loans are now available. Students who borrowed in 2008-2009 who were not scheduled to graduate and their Parent Loan borrowers will receive renewal applications in the mail. The interest rate for new student borrowers in 2009-10 is 5.5%. The interest rate for new parent borrowers is 7%.

Giving Opportunity

Please give to the Student Loan Program.

For current loan account information

Please visit KHELSC or call 800-693-8220.