The Evalee C. Schwarz Charitable Trust for Education is a unique opportunity for college students, created under the Will of Evalee C. Schwarz. The trust provides interest free student loans to undergraduate and graduate students who demonstrate exceptional academic performance and significant financial need. Unlike college scholarships, the interest free student loans will need to be repaid, however with this opportunity students have the ability to secure large sums of money for college without having to worry about interest charges.
College students seeking to qualify for an interest free student loan from the Evalee C. Schwarz Charitable Trust for Education must be U.S. citizens at the time of application, qualify for financial need in the form of government grants, and meet all other additional academic requirements outlined on the application. Awards from the Evalee C. Schwarz Charitable Trust for Education are student loans, and therefore must be repaid, however the loans are interest free and have no fees associated. Loan amounts typically range from $5,000 to $15,000, with a $50,000 lifetime cap per student.
Once applicants are approved, they will be contacted prior to fund disbursement to verify continued need for funds. The student loans will be paid directly to the student in one lump sum. Repayment for The Evalee C. Schwarz Charitable Trust for Education student loans will begin one year after graduation, or one year after the discontinuation of school. Student loan repayment is structured over a ten year period, and is calculated on an increasing sliding payment scale. Full information and applicants can be found at www.evaleeschwarztrust.org.