Haerlen Family Elma Education Loan Program
The Grays Harbor Community Foundation and its donors have been providing financial assistance to area students since 2000. The financial assistance has always been in the form of a scholarship support for the students’ pursuit of higher education.
As of 2016, the Foundation currently offers an educational loan to graduates of Elma High School; Haerlen Family Elma Education Loan Program. This loan is intended for Elma High School graduates entering graduate/professional school or a doctoral program; e.g., Ph.D., medical, law, veterinary.
*Preference will be given to students who intend to live and work in Grays Harbor County.
We understand applying for financial assistance can be difficult and we welcome any questions you may have. If you would like to talk to a member of our staff, email firstname.lastname@example.org or call 360-532-1600.
Haerlen Family Education Loan
- The Haerlen Family Elma Education Loan is available for graduate/professional students, as well as students entering a doctoral program.
- Amount: Up to $10,000 per year with a maximum of $20,000 over two years.
- Renewable: Students can reapply for the loan once a year for two consecutive years. Successive loans are contingent on maintaining a minimum grade point average of 2.00 on a 4.0 scale and maintaining fulltime status.
Requirements and selection criteria
- Financial need
- A current transcript is required as evidence of satisfactory academic standing before an installment of a loan may be drawn.
- A graduate of Elma High school.
- Must provide proof of enrollment in a graduate, professional or doctoral program (e.g., Ph.D., medical, law, veterinary)
- The applicant shall be of good moral character.
- At the time the loan is drawn, student must be:
- Enrolled in an accredited school
- Within two years, but not less than four months, of completing course of study.
- Promissory note
- Credit Report
How does the loan work?
No interest is charged while the student is enrolled in school. The length of repayment will be determined on the total amount of the loan. The interest rate on the unpaid balance to be charged monthly for the loan will be the following:
The student is required to sign a Promissory Note and submit a credit report to the Foundation. The note will be payable in equal monthly installments over a length of time, to be determined based on the value of the loan, after graduation or termination of studies.
Loan checks are made payable jointly to the student and the college or university. Any failure to repay the loan constitutes a default. Upon default, a delinquency charge of 1.65% per month (19.8% APR) of the total amount will be assessed.
How do I apply?
The following items need to be submitted with the application:
- Elma Loan Application
- Official High School, college and graduate school transcript, if applicable
- Letter of Acceptance into an accredited graduate or doctoral program
- Character reference letter
After initial acceptance, students must submit:
- Recent credit report
- Promissory note
Applications can be dropped off at our office (705 J Street/Hoquiam, WA/98550) or emailed to Jessica Hoover, Program Officer, at email@example.com.