Trinity Muscatine Friends - Health Education Fund (HEF) Loan Program

This fund was originally established to aid those students interested in becoming professional nurses; however, it has been extended to include all other health care professionals.

Male and female applicants are equally eligible. Applicants must be residents of Muscatine or the area which Trinity Muscatine serves for at least three years. Applications for this interest-free loan must be made by the student. Eligibility is determined by the Health Education Fund (HEP) Committee and approved by the Trinity Muscatine Friends Executive Board.

*Requirements *
The student shall be working toward a degree or certificate leading to an education credential recognized by his/her respective State Licensing Board. Continuing Education programs taken solely for purposes of Iicensure maintenance are not acceptable. The student shall show proof of acceptance into the program. Loans are granted on the basis of four criteria; 1) need, 2) interview with
HEF Committee, 3) references, and 4) approval of the Trinity Muscatine Friends Executive Board.

Amount of Loan
The loan to any one student will not exceed $8,000.00 over the period in which it is required to complete the specified education. Loan funds may be used for tuition, books and fees only.

*Loan Repayment *
Loans will be payable commencing 180 days after graduation.

Repayment is to be made by the 15th of each month with the amount of said payment set forth according to Trinity Muscatine Friends’ loan payment schedule. Students with a good repayment history will be forgiven their final monthly payment.

Students who discontinue their education for personal reasons shall commence repaying their loans within 90 days at the rate of 15% per annum interest from date of termination of education.

All payments will be credited to outstanding balance of the signed promissory note, which will be kept in the possession of the HEF Committee.

All loans considered to be in a default status will be charged interest at a rate of 15% per annum.

Each student will keep the HEF Committee informed of his/ her address, status in school and termination of education. In the event that the student fails to notify the HEF Committee, the total balance of the loan will become due and payable immediately.

For consideration of the loan, a formal promissory note shall be signed by the student along with a responsible co-signer.

For further information, please contact:
Health Education Fund Chair
Trinity Muscatine Friends
1518 Mulberry Avenue
Muscatine, Iowa 52761

Email: cjhank@hotmail.com

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