(Canton, Ohio) – Students looking to further their education can turn to a local foundation for low-interest student loans.
The Canton Student Loan Foundation, a non-profit organization, is offering student loans to Stark County graduates. The loans can be applied to any undergraduate course of study, including four-year college degrees, two-year associate degrees, and degrees from technology and trade schools.
Annual interest of 6 percent is deferred while the student is attending classes, so the effective interest rate is 1.5 to 2 percent, much lower than most other sources. There are no fees.
Students may borrow up to $12,000 total over the course of their education. Freshmen can receive $3,000 per year and students closer to graduation may be able to receive more per year.
To be eligible for a loan, students must have graduated from a Stark County high school, have and maintain a 2.0-grade point average, be pursuing an undergraduate course of study and be attending school on a full-time basis (enrolled for at least 12 credit hours per term).
Graduate school loans are also available. In order to borrow funds for graduate school, the student must be a current Canton Student Loan Foundation student.
“Increased training or earning a degree can mean earning thousands of dollars more each year so being able to earn a degree is a life-changing experience,” explained Kimberly Leggett, Executive Director of The Canton Student Loan Foundation. “It has always been our goal to help our local Stark County students pursue their dreams without the burden of high-interest-rate loans.”
To apply online, visit www.cantonstudentloan.org. Or contact the Canton Student Loan Foundation at (330) 493-0020 or at firstname.lastname@example.org. Loan applications are due in the Foundation’s office by June 1, 2019.
Since 1922, The Canton Student Loan Foundation has extended over $36 million to nearly 6,000 Stark County students. Recipients have gone on to careers in education, medicine, law, marketing, cosmetology, auto technology and countless other areas. More than half of the student borrowers return to live and work in Stark County following the completion of their education.