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| Minnesota Knights of Columbus Student Loan Fund Organization and History For over 46 years, the Minnesota Knights of Columbus have been running a unique student loan program that has helped thousands of students attend college, vocational-technical school and graduate school. Since 1960, the fund has grown from just $4,800 to more than $1,400,000, largely through the generous contributions of Knights and their friends. Meanwhile, its delinquency rate on repayments has averaged less than one-half percent. Much of the business of the Student Loan Fund is handled
by six (6) Elected Directors, the Immediate Past State Deputy and a program
administrator. Two directors are elected each year at the State Convention
to serve three (3) year terms. All accredited colleges, universities, vocational and technical colleges. Members in good standing, and their wives, sons and daughters. Wives, sons, and daughters of deceased members in good standing at their time of death. Member and applicant must be a permanent resident of Minnesota for a minimum of 3 years Loan Amounts Freshmen – Maximum of $2,000 Sophomores - Maximum of $2,000 Juniors - Maximum of $2,000 Seniors - Maximum of $2,000 Grad Students - Maximum of $2,000 Vocational/Technical College – $2,000 for 2 yrs - Maximum of $4,000
Loan Repayment No interest is charged on the loan until the termination of the undergraduate program Interest rate is 6.5% Repayment schedule is a maximum of 5 years. Write: Minnesota Knights of Columbus Call: 952-873-2213 Council Financial Secretary must complete Membership Verification Form Applicant is responsible for the return of the Verification of Membership
Form. Parents if the applicant is not married. Spouse or father of the applicant if the applicant is married. Co-signers must be permanent residents of Minnesota of a minimum of 3 years and a member of the K of C, or a spouse of a deceased member. |
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