1970-1971 Academic Catalog

28 CEDARVILLE COLLEGE BANK LOANS Loans are available to Cedarville College students through the United Student Aid Funds, Inc., and most state guaranteed loan programs. All of these loan programs are arranged through local banks for specified interest rates and are repayable after graduation. Listing of the college in the Direc– tory of Higher Education published by the United States Department of Ed– ucation makes available the payment of interest by the federal government on loans secured through local banks under the various state or private loan programs. National Defense Student Loans are available through the college to stu– dents who are citizens of the United States and who can demonstrate financial need to meet educational expenses. Detailed information and application forms are available from the Director of Financial Aid. There are specialized loan funds available to students who meet the proper qualifications such as the McChesney Memorial Loan Fund for residents of Greene County, Ohio, the Bancroft Loan Fund for missionary candidates, the Polly Leunk Memorial Fund, and the JEC Memorial Fund. A very limited amount of money is available to students with special needs through the college Student Aid Fund. Other education loan programs may be available through local banks or specific organizations. High school guidance counselors can give you infor– mation concerning these. Farm children can arrange educational loans through their local Production Credit Association office. The Director of Financial Aid can supply information concerning the above loans as to banks servicing these loans and specialized qualifications. COMMERCIAL PAYMENT PLANS FOR EDUCATIONAL COSTS This plan enables students and parents to pay education expenses in monthly installments. Low cost deferred payment programs are available through nationwide organizations specializing in education financing. All plans include insurance on the life of the parent and the student, total and permanent disability insurance on the parent, plus trust admin– istration in event of the parents' death or disability. Agreements may be written to cover all costs payable to the school over a four-year period in amounts up to $14,000. Parents desiring further information concerning these deferred payment plans should write the Business Office, Education Funds, Inc., 10 Dorrance Street, Providence, Rhode Island 02901, or Funds for Education, Inc., 319 Lincoln Street, Manchester, New Hampshire 03103.