1992-1993 Academic Catalog

The Fullerton Music Student Loan Fund Established to assist music majors. The Gale Memorial Loan Fund Established by Mr. Ralph B. Gale to help eligible, needy students on a short term basis. The Kemp Loan Fund Established by a former financial aid office secretary for eligible students to use over a period of 15-30 days. The M.K. Loan and Grant Fund Established by interested alumni missionary friends to assist children of missionary parents who meet the guidelines and who, without this help, would have difficulty meeting their educational expenses. Nursing Student Loan Program Established to assist students pursuing a course of study leading to a baccalaureate degree in nursing. The Polly Leunk Memorial Loan Fund Established to assist students who are unable to obtain funds through other sources. The Frances McChesney Memorial Loan Fund Established by the Cedarville College alumni prior to 1952 to assist any eligible, deserving Greene County student. The Miter Loan Fund Established by a friend of the College to assist eligible students. The Science Loan Fund Established by the Science Department to assist science majors who demonstrate financial need. The Student Body Loan and Grant Fund Established by the Class of 1972 to provide loan and grant funds to eligible students. The Student Emergency Fund Established to provide short term loans to help students facing unanticipated emergencies. Federally Insured Student Loans Loans are available to Cedarville College students through most state-guaranteed loan programs. These loan programs are arranged through local banks, savings and loan associations, credit unions, pension funds, and insurance companies for nominal, specified interest rates and are repayable beginning the seventh month after graduation. The listing of Cedarville College in the Directory of Higher Education published by the United States Department of Education makes available the payment of interest by the federal government on eligible loans secured through the lending institutions listed above under the various state, federal, or private loan programs. Stafford Loans, Supplemental Loans for students, and PLUS Loans are considered to be awarded for the entire loan period requested by the borrower. Should the borrower withdraw before the end of the loan period, a proportionate refund of the loan proceeds may be returned to the lender. Specific questions relating to the federal regulations in regard to loan Financial Information 195 refunds may be directed to the financial aid office. Cedarville College works closely with the Great Lakes Higher Education Corporation when processing Stafford Loans. An application will be provided in the award package of an eligible and interested student. Other Educational Loans Loans may be available through local banks or specific organizations. Teacher education majors may qualify for a loan through the Ohio Student Loan Commission. Specific eligibility requirements are maintained. Teacher education loans may be forgiven due to teaching service. High school guidance counselors can provide information concerning many of these loan programs. Children of farmers can arrange educational loans through their local Production Credit Association Office. The director of financial aid can supply additional information concerning the above loan opportunities. 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 financial 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. Continuing students must be in good standing and enrolled as at least a half-time undergraduate. 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