SHARP LOAN
The Sharp Loan is available to graduating seniors and also to previous graduates.
Basically, this is an interest free loan. The amount is determined by the number of approved applicants and the amount of money available.
Each student must fill out an application every year (Available in the guidance office). The committee meets in April. The School Board, who has the final approval, meets in May.
Applications are due in the Guidance Office by March 1. The amount of the loan is divided in half, one-half for each semester. Students will need to pick up their checks in August and January. Each must have a co-signer. (Checks will be available in the Central Office)
Repayment of $50.00 per month begins after a student graduates or withdraws from college.
Any questions concerning the Sharp Loan may be directed to the High School Guidance Office.
R-II SCHOOL BOARD LOAN FUND
The Board of Directors of the R-II School District has available funds for loans to those graduates of the Senior High School who are residents of the district under the following terms and conditions:
I. No applicant may borrow more than $1,000.00 per year from the fund.
II. Loans shall be made only for the purpose of assisting worthy students in pursuing courses of study or acquisition of skills after graduation from high school, without restriction as to type of school attended so long as such school is accredited by a recognized and bonafied accreditation bureau or group.
III. All applications for loans must be made in writing, upon forms to be furnished upon request therefore, to the Counselor within such time as the Counselor shall, from time to time, announce.
IV. No loan shall be granted to an applicant who is not first approved by the Counselor as to the applicant’s ability and interest in the particular skill or field of study to be pursued.
V. All completed applications for loans shall be referred by the Counselor to the Aids and Awards Committee of the Montgomery County R-II School District, and a special Committee of the Board of Directors, composed of four adult citizens of the School System, and treasurer of the Board as an ex-official member. The Committee shall review all applications and recommend to the Board of Directors those to be approved, giving preference to those applicants showing financial need and to first year students.
VI. The Board of Education will give final approval of loans, to the extent of the funds available, to those applicants submitted to it by the committee.
VII. Borrowers from the loan fund will be required to sign a promissory note in the principal note in the principal amount of the money borrowed containing usual and customary terms. Repayments shall be made at a minimum rate of $50.00 per month commencing four (4) months after satisfactory completion of the courses of study or acquisition of the skill pursued, or six weeks after discontinuance of attendance prior to satisfactory completion, whichever occurs first. In the event of induction into the armed forces, all provisions of the Soldiers and Sailors Civil Relief Act of 1940 will apply. Said note shall further provide that any failure to comply with terms and conditions therein set out shall, at the option of the Board of Directors, result in the entire amount of said note becoming immediately due and payable. Each note must be co-signed by the parents or guardian or other responsible person in behalf of the borrower.
VIII. All borrowers from the loan fund shall be required to furnish statements from school authorities at least once each semester, quarter, or other similar period, as to enrollment therein, hours carried, and grade average, and shall be required to keep the Treasurer of the Board advised at all times of his or her current address after leaving school until the loan is paid in full.
These rules and regulations, when signed by borrowers from the R-II School Board Loan Fund below, become a part of the note evidencing a Loan from said fund.
_____________________________________ (Signature of Applicant)
_____________________________________ (Signature of Co-Signer)
MONTGOMERY COUNTY R-II PUBLIC SCHOOLS
STUDENT LOAN APPLICATION
Pleas complete all blanks. If any question or blank does not pertain to you, please indicate by NA (non-applicable). I have read pages 2-3 of the application and agree to abide by all regulations set forth by the committee.
1. Last Name First Name Middle Name
a. 2. Permanent Address: City Street State ZIP
3. 3. Full name of parent or guardian
4. 4. Permanent address of parent or guardian City Street State ZIP
5. Date of birth SS #
6. 6. Give the name and the address of the school where the loan will be applied.
a. Name of School
b. Street City State ZIP
1.
7. 7. Give the estimated expenditures for tuition, books, and supplies for the first year of enrollment.
8. 8. Give the estimated cost of living expenses for the first year of enrollment.
9.
9. Method of payment of tuition stipulated by school. (Semester or Quarter)
10. 10. Major area of study
11. 11. Intended vocation after training
________________________________________
(Signature of Applicant)
MONTGOMERY COUNTY R-II SHARP LOAN APPLICATION
I. PERSONAL INFORMATION
Last Name First Name Middle Name
Street Address City State ZIP
What will your college classifications be? (Fr, Sop, Jr, Sr)
List Scholarships or Awards or Other Financial Aid you have received to defray college expenses:
II. FAMILY INFORMATION
Number of Dependent Children in the Family (include applicant).
Number in the Family who will be in College next year.
(PLEASE HAVE PARENTS COMPLETE THIS SECTION)
Father Mother
Name Name Street Street City City State ZIP State ZIP Occupation Occupation Employer Employer Monthly Income Monthly Income Parents’ Contribution to Defray College Expenses.
Name Name
Street Street
City City
State ZIP State ZIP
Occupation Occupation
Employer Employer
Monthly Income Monthly Income
Parents’ Contribution to Defray College Expenses.
Parents' Signature___________________________________________________