Download Nabstedt Application

Harry M. Nabstedt And Myrtle B. Nabstedt Revolving Educational Foundation

Loan Program Criteria

1. The applicant shall be a graduate of a high school in Scott County, Iowa with preference being given to graduates who are Protestant.
2. Amount Loaned each year:
1. Undergraduates:

• i. Each year for new applicants the maximum amount that can be lent to that person will be equal to one-half of the total annual cost of current tuition, room and board for the University of Iowa Liberal Arts Program for undergraduate students.

• ii. Undergraduate students may reapply for loans for up to three successive school years for the same amount that was received the first year.

1. Graduates:

• i. Each year for new applicants the maximum amount that can be lent will be the same as the undergraduate.

• ii. Graduate students may reapply for loans for up to three successive school years for the same amount received the first year.

•  Note: Only one undergraduate/graduate loan will be awarded per12 month period and successive loans are contingent on maintaining a minimum grade point average of 2.00 on a 4.0 scale or equivalent average on another system and completing a minimum of 24 credit hours each academic year .

1. The interest rate on the unpaid balance to be charged annually for the loan will be the following:
1. 1 st year of repayment 1 %
2. 2 nd year 1.5 %
3. 3 rd year 2.0 %
4. 4 th year 2.5 %
5. 5 th year 3.0 %
6. 6 th year 3.5%
2. The applicant shall be of good moral character and shall have maintained a minimum grade point average of 2.00 on a 4.0 scale or equivalent average on another system in high school.
3. The proposed college or university is one affiliated with the North Central Association of Colleges and Secondary schools and/or with one of their associated groups.
4. An application (see www.cfgrb.org ) with pertinent information is to be sent to the Community Foundation. Information to be included:
1. Transcript from high school, college or graduate school if applicable.
2. Character reference letter from your counselor or minister.
3. Photocopy of the SAR Report showing the EFC report.* (See your counselor for an application.)
4. Applications due May 1 for fall semester and October 1 for winter semester.

* Each applicant must complete the Free Application for Federal Aid (FAFSA) as soon as possible after January 1 st . This form is available at no cost from a high school or college guidance office after January 1 st . Applicants receive a Student Aid Report (SAR) containing the results of the FAFSA application. The SAR shows the Expected Family Contribution (EFC).

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