1991-1992 Academic Catalog

210 Financial Information Other Educational Loans Loans may be available through local banks or specific organizations. Teacher edu– cation majors may qualify for a loan through the Ohio Student Loan Commission. Specific eligibility requirements are maintained. Teacher education loans may be for– given due to teaching service. High school guidance counselors can provide informa– tion concerning many of these loan programs. Children of farmers can arrange educa– tional loans through their local Production Credit Association Office. The director of financial aid can supply additional information concerning the above loan opportuni– ties. Perkins Loans Perkins Loans are available through the College to students 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 fmancial aid. The Perkins Loan Fund (NDSL) was established to help students pursue their courses of study at their chosen institutions of higher education. A student is eligible if he is: (1) a national of the United States, in the United States for other than a temporary purpose and intends to become a permanent resident thereof, a permanent resident of the Trust Territory of the Pacific Islands, or the Northern Mariana Islands; (2) in need of the amount of the loan to pursue a course of study at an eligible institution; (3) capable, in the opinion of the institution, of maintaining good standing in such course of study; and (4) accepted for enrollment as at least a half-time undergraduate student. Con– tinuing students must be in good standing and enrolled as at least a half-time under– graduate. The statute governing the Perkins Loan Fund does not restrict the amount which may be granted per academic year. However, the aggregate of all loans for all years from the PLF may not exceed: (l) $18,000 in the case of any graduate or professional student, including any loans from such funds made to such person before he or she became a graduate or professional student; (2) $9,000 in the case of a student who has successfully completed two academic years of a program of education leading to a bachelor's degree, but who has not completed the work necessary for such a degree, including any loans from such made to that person before he or she became such a student; and (3) $4,500 in the case of any student who has not completed two academic years of a program of education leading to a bachelor's degree. Repayment begins nine months after graduation or when a student leaves school for other reasons. One may have up to 10 years to pay back the loan, depending upon the aggregate amount borrowed. During the repayment period, the borrower will be as– sessed five percent interest on the unpaid balance of the loan principle. No payments are required for up to three years while one is serving in the Armed Forces, Peace Corps, Vista, or other areas in special service. Exit interviews will be conducted for graduates and others at the conclusion of each quarter to explain loan deferment and cancellation provisions for borrowers who con– tinue their education or go into certain fields of teaching or specifiedmilitary duty. Student Employment CollegeWork Study This federally-funded program is designed to provide work opportunities for college students. Students in this program may qualify for up to thirteen hours a week during the academic year, providing they show a demonstrated need from federal form analy– sis (i.e., the FAF or other equivalent form). All work assignments are made by the Financial Aid Office. Actual hiring is done by the department supervisors who will employ the students. As with campus employment, actual job placement, number of hours worked, and total dollar amount earned cannot be guaranteed by the Financial Aid Office. Campus Employment Although not able to guarantee actual job placement, the number of hours worked, or total dollar amount earned, Cedarville College assists needy students by recom– mending them for part-time employment. Students are employed in various part-time jobs on campus such as maintenance, cafeteria, housekeeping, and others. Part-time work is important not only for financial assistance but also for providing the student with the opportunity to develop discipline in managing his or her time and responsibilities. Valuable socializing skills can also be learned where students work in groups. Part-time student employment is not restricted to upperclassmen, and is en– couraged at all levels. The one exception is for students in the Academic Development Program who must have special permission from the Coordinator ofAcademic Progress to work during their freshman year. Off-Campus Employment Because of the College's reputation for attracting quality students, many area em– ployers contact the Placement Office to employ students on a part-time basis. Some– times students obtain work related to their fields of study and gain valuable experience as well as income. Though no formal restrictions pertain to this employment, students are encouraged to limit their working hours to approximately twenty hours per week to insure sufficient time to study.