Student Loan Application STUDENT LOAN PROCESS/CRITERIA

Transcription

1 Application Page 1 of 10 STUDENT LOAN PROCESS/CRITERIA 1. Applicant must be enrolled in a BVROP program. 2. Students must supply a current credit report along with the initial application. If the student has not established credit, the guarantors must provide this information. Note: to receive one free credit report per year, go to 3. The Student Loan Committee will review the applications and once reviewed, the student may be called for an interview. 4. At the time the loan is funded, the student and a guarantor will be asked to sign a promissory note. 5. Student must provide verification of continued full-time student status at the end of each grading period. If verification is not received, the loan repayment schedule will begin. 6. Funds will either be transferred from Baldy View ROP Foundation to the Baldy View ROP program in the name of the student to defray the cost of tuition or given to the student directly to cover program costs already incurred. 7. The student will be required to begin making payments ninety (90) days after the program ends at the rate of 10% of the initial loan per month until the loan is paid in full. 8. If the student defaults on the loan, interest will be assessed at the rate of 10%APR. Submit applications to: Baldy View ROP Foundation Attn: Foundation Board 8265 Aspen Ave., Suite 100 Rancho Cucamonga, CA Note: Loans may be paid off at any time with no penalty.

2 Application Page 2 of 10 PERSONAL INFORMATION: NAME: M F First Middle Initial Last PHONE: Number/Street Apt. # Area Code Number City State Zip Code Number of Years Address DATE OF BIRTH: AGE: DR. LIC. #: SOCIAL SECURITY #: MILITARY SERVICE: BRANCH: DATES: DISCH. STATUS: AREA RESIDENT: YEARS MARITAL STATUS: DEPENDENTS: AGES: SPOUSE NAME: SPOUSE OCCUPATION: First Middle Initial Last SALARY: FATHER S NAME: PHONE: Area Code Number OCCUPATION: Number/Street Apt. # City State Zip Code ANNUAL GROSS SALARY: MOTHER S NAME: PHONE: Area Code Number OCCUPATION: Number/Street Apt. # City State Zip Code ANNUAL GROSS SALARY: EDUCATIONAL HISTORY: HIGH SCHOOL: DATES: COLLEGES: DATES: MAJOR: DATES: MAJOR: GRADUATE WORK: DATES: MAJOR: LIST ANY OUTSTANDING AWARDS AND RECOGNITIONS or EXTRA CURRICULAR ACTIVITIES: HIGH SCHOOL GPA: GPA FROM COLLEGE (OR CURRENT SCHOOL):

3 Application Page 3 of 10 EMPLOYMENT HISTORY: (LIST MOST RECENT POSITION FIRST) NAME: DATE: WAGE/YR: Number/Street City State Zip Code CONTACT PERSON: PHONE: Area Code Number NAME: DATE: WAGE/YR: Number/Street City State Zip Code CONTACT PERSON: PHONE: Area Code Number NAME: DATE: WAGE/YR: Number/Street City State Zip Code CONTACT PERSON: PHONE: Area Code Number

4 Application Page 4 of 10 REFERENCES*: PLEASE LIST NAMES, ADDRESSES AND PHONE NUMBERS OF THREE PEOPLE (OTHER THAN GUARANTORS) WHO WILL ALWAYS BE A CONTACT FOR YOU. 1. NAME ADDRESS CITY STATE ZIP PHONE RELATIONSHIP 2. NAME ADDRESS CITY STATE ZIP PHONE RELATIONSHIP 3. NAME ADDRESS CITY STATE ZIP PHONE RELATIONSHIP *TWO (2) LETTERS OF RECOMMENDATION (FROM PERSONS OTHER THAN RELATIVES) ARE REQUIRED IN ADDITION TO THE ABOVE INFORMATION.

5 Application Page 5 of 10 BANK INFORMATION: LAST NAME: NAME ON ACCOUNT: NAME OF BANK: PHONE NO.: CHECKING ACCOUNT NUMBER: SAVINGS ACOUNT NUMBER: CURRENT FINANCIAL POSITION: LOANS OUTSTANDING: CAR OWNED: OTHER ASSETS: APPLICATION REQUEST FOR: List Course/Program ACCEPTED: DATE TO BEGIN: DATE TO COMPLETE: AMOUNT OF REQUEST: DATE STUDENT S SIGNATURE I hereby give my consent to provide Baldy View ROP Foundation with a current credit report and consent to have Baldy View ROP Foundation, or any credit-reporting bureau, which it may designate, to obtain any and all information concerning my employment, checking and/or savings accounts, obligations, and all other credit matters, which they may require in connection with my application for this student loan. STUDENT S SIGNATURE DATE

6 Application Page 6 of 10 BRIEFLY EXPLAIN YOUR OBJECTIVES AND PROPOSED CAREER BELOW:

7 Application Page 7 of 10 STUDENT LOAN PROCESS/CRITERIA 1. Applicant must be enrolled or enrolling in a BVROP program. 2. Loans will be available for up to $2000 or 50% of the program costs. 3. Students must supply a current credit report along with the initial application. If the student has not established credit, the guarantors must provide this information. Note: to receive one free credit report per year, go to 4. Completed application will take up to 4 weeks for processing. Incomplete applications will be returned to the student. 5. Students will be notified of loan status by phone or At the time the loan is funded, the student and a guarantor will be asked to sign a promissory note. 7. Student must provide verification of continued full-time student status at the end of each grading period. If verification is not received, the loan repayment schedule will begin. 8. Funds will be transferred from Baldy View ROP Foundation to the Baldy View ROP program in the name of the student to cover the costs of the program. Should the funds be used to cover costs associated with the program, such as uniforms or text books, funds will be issued from Baldy View ROP to the student directly. 9. The student will be required to begin making payments ninety (90) days after the program ends at the rate of 10% of the initial loan per month until the loan is paid in full. 10. If the student defaults on the loan, interest will be assessed at the rate of 10%APR. Submit applications to: Baldy View ROP Foundation Attn: Foundation Board 8265 Aspen Ave., Suite 100 Rancho Cucamonga, CA bvropfoundation@bvrop.org Note: Loans may be paid off at any time with no penalty.

8 Application Page 8 of Promissory Note $ Amount of Student Loan BALDY VIEW ROP FOUNDATION Rancho Cucamonga, California On demand, or if no demand is made, then at the times and in the manner herein set forth, for money borrowed, I/We, the undersigned, jointly and severally promise to pay to the BALDY VIEW ROP FOUNDATION at Rancho Cucamonga, California the sum of $. In the absence of demand this note shall be payable in installments of $, or more each month (including interest, if any, as hereinafter set forth) commencing on the day of 2. No interest shall be charged hereunder until, (a) ninety (90) days shall have elapsed from the date of demand, and thereafter interest shall be charged on the unpaid principal balance at the rate of % per annum, or (b) if no demand be made, and if the maker(s) hereof shall be in default upon the payment of two or more installments due as hereinabove set forth, then interest shall be charged thereafter upon the unpaid principal balance at the rate of % per annum. In the event the undersigned shall default in making any payments due under this note within days of its due date, the remaining balance of principal and any interest shall become immediately due and payable at the option of the BALDY VIEW ROP FOUNDATION. Failure to exercise this option shall not constitute a waiver of the right to exercise the same in the event of any subsequent default. No notice of default or acceleration is required. The undersigned acknowledges and agrees that the BALDY VIEW ROP FOUNDATION has an insurable interest in the life of the promisor and that in the event that, and at the time that the promisor s indebtedness to the BALDY VIEW ROP FOUNDATION exceeds the sum of Ten Thousand Dollars ($10,000.00), the BALDY VIEW ROP FOUNDATION in its absolute discretion, shall have the right to obtain a life insurance policy insuring the life of the promisor in an amount equal to the sum then due to the BALDY VIEW ROP FOUNDATION, by the promisor, naming the BALDY VIEW ROP FOUNDATION as the primary beneficiary of said policy, and that the costs and expenses of said life insurance policy shall be added to the principal sum due to the BALDY VIEW ROP FOUNDATION by the promisor,and shall be paid by the promisor in the same manner as set forth hereinabove. In the event an attorney is employed to enforce payment of this note or legal action is undertaken to enforce the collection of this note, then the maker(s) hereof agree to pay the costs of collection, including attorney s fees in a reasonable amount. All rights and benefits conferred by the Statute of Limitations are expressly waived; it being agreed that suit may be brought to enforce collection hereof at any time after maturity, the provisions of the Statute of Limitations notwithstanding. Date Name (Signature of Student) Print Name Address Phone Date City State Zip

9 Application Page 9 of 10 Guaranty I/We, the undersigned, jointly and severally guarantee the payment, when due, to any holder hereof, of all amounts from time to time owing thereunder, and the payment, upon demand, of the entire amount owing on the foregoing agreement, in the event of default in payment by debtor(s) named therein. Undersigned waive(s) notice of acceptance of this guaranty, acknowledge themselves as fully bound by all provisions of said agreement and expressly agreement to pay all amounts owing hereunder upon demand, without requiring any action or proceeding against debtor(s). #1 GUARANTOR (Please Print) # 2 GUARANTOR (Please Print) Signature Address Signature Address City State Zip City State Zip Phone Phone Social Security # Drivers License # Social Security # Drivers License # Name of Bank: Address: Phone Number: Name of Bank: Address: Phone Number: Checking Account #: Checking Account #: Savings Account #: Savings Account #: Date Date PROMISSORY NOTE 2014/2015

10 Application Page 10 of Baldy View ROP Foundation Loan Application Review Checklist Name of Applicant: Application pages Letters of Recommendation Credit Report Comments: