Kansas Masonic Foundation Loan and Scholarship Program
by Mary Haug
November 10, 2007
Kansas Masonic Foundation Loan and Scholarship Program
Deadline April 15, 2008
Low-interest loans are available each year from the Kansas Masonic Foundation to Kansas residents attending a Kansas institution of higher learning. Approximately $2.5 million have been loaned out to Kansas residents since 1970.
Students are required to maintain at least a 2.0 semester GPA on a 4.0 scale and remain a full-time student (minimum of 12 hours for undergraduates, 9 hours for post-graduates). These multi-year loans are designed to assist a student throughout a 1, 2, 3 or 4-year educational process. Repayment starts one year after completion of school and is accomplished over a 4-year period with increasing annual payment at a 4% interest rate on the principal. Interest begins accruing at the date of completion of school or termination of agreement.
Applying for a Student Loan For a student loan application you may contact the Kansas Masonic Foundation by phone and request an Application and Financial Aid Verification Form, or you may download the forms online at http://www.kmfonline.org/content/view/15/36/ or from Mrs Haug. These forms must be completed in full and mailed to the Kansas Masonic Foundation office no later than April 15, 2008; uncompleted forms will not be accepted. The top section of the Financial Aid form must be filled out by the student and then forwarded by the student to the Financial Aid office of the student’s school of choice. In addition to the application forms, other documents that must be in the Kansas Masonic Foundation office by the deadline specified are: a cover letter on the students educational and career plans, a recent official transcript, a photograph of the student and at least one letter of recommendation. On the application form, we require two co-signers who can't be from the same household.
Students who have actively been in our loan program for at least two years, remain a full-time student and maintain a 3.5 or higher cumulative GPA may qualify for a non-solicitable scholarship. These scholarships are made possible through the generosity of Lester Barrett King and his wife, Clarice Whitehill King. Since the inception of the scholarship program in the 1995-96 school year, over $200,000.00 in scholarships have been awarded to these students. Effects on other Financial Aid Your student loan does not necessarily affect other financial aid. The Education Loan Agreement is made directly with the student and two co-makers. All subsequent disbursements are made by check to the student to be used for educational purposes. Reports are not sent to the school or other lenders unless requested.
Masonic Affiliation No Masonic affiliation is required for either the KMF Student loan or the Cynthia Ruth Russell Memorial Grant. All loan decisions are solely based on each student’s individual situation without regard to age, race, sex, religion or disability.
website www.kmfonline.org
