Schell Student Loan Program

The Charles E. Schell Foundation with the assistance of Fifth Third Bank of Cincinnati offers student loans to a small number of eligible students each semester. The Schell Loan fund is maintained and administered by the Perkins Student Loan office.
How to Apply:	Application is made separately from the FAFSA. Contact Financial Aid for availability of loans and an application
Qualifications:	Students must maintain a 2.5 GPA
Preferences:	First preference is given to the children of EKU employees followed by Juniors and Seniors
Amount:	Up to $2000.00 per year
Interest:	0% - this is an interest free loan but the principal borrowed does have to be repaid
Payment:	$50.00 minimum monthly payment due by the 1st of each month Late fees are assessed for late payments and defaulted loans are subject to collection action and/or litigation
Grace Period:	9 months
Deferments:	Student - for half-time or greater enrollment at EKU Temporary Total Disability - available for borrowers temporarily unable to work due to disability, requires affidavit from a qualified physician
Cancellations:	Death Total Permanent Disability: Requires affidavit from a qualified physician