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Loan and Scholarship Information
Board of Higher Education and Campus Ministry
PO Box 1515
Cicero NY 13039
800-699-8715
Introduction
The United Methodist Church has had a very strong commitment towards higher education since its inception. John Wesley was not only a proponent of a warm heart, but of an enlightened mind. There are presently 122 colleges and universities which were founded by or have a relationship to our denomination.
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General Church Information
As a church we have been instrumental in providing financial assistance for those desiring an undergraduate and graduate education. Applications for general church scholarships may be obtained from the
Office of Loans and Scholarships
General Board of Higher Education and Ministry
UNITED METHODIST CHURCH
PO Box 871
Nashville TN 37202
Information will also be provided from this same office on UM Student loans repayable at 6% interest.
The United Methodist Higher Education Foundation also provides scholarships and loans for United Methodist students attending the 122 United Methodist related institutions.
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Other sources: Wesley Foundation at Cornell University
Two scholarships are available for United Methodist students attending Cornell. Click here for a poster describing the two.
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NCNY Conference Information
In addition to general church funds, financial assistance may also be available through the annual conference. Following are the eligibility requirements. Applications for a Bulson Loan or a Merit Award Scholarship can be sent to the
North Central New York Conference
United Methodist Church
Conference Scholarships and Loans Committee
PO Box 1515
Cicero NY 13039
Merit Scholarship Applications must be submitted by June 1, 2008 to be considered for the 2008/2009 school year. Applicants will be notified in June regarding the disposition of their request.
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CHARLES & GRACE BULSON MEMORIAL STUDENT LOAN
The Bulson Memorial Loan Program provides loans of up to $4,000 per academic year per student. The amount of the award will depend not only on the applicant's need, but also upon the number of applications and the amount of money available to make awards each year. Funds for these loans are made available from a trust for this purpose administered by the Board of Trustees.
Loan terms: The loan is made payable to the individual on receipt of a promissory note (see item 5 under application procedure). An interest rate of 3% will be assessed from the date of issuance of the loan check through the date repayment commences. Repayment of the loan must begin within nine (9) months of graduation from the degree program for which the loan was made or withdrawal from the program. Repayment will not be required as long as the student is enrolled for at least six (6) credit hours per semester.
The loan shall be repaid in monthly installments with a 6% interest rate charged on the principal and the deferred interest. The loan must be paid in full within the term agreed upon with the Scholarship Committee at the time the loan was made. If the total loan amount is $10,000 or more, the maximum monthly repayment period will be 10 years. Loans under $10,000 must be repaid within 5 years.
Go here for the application.
| Eligibility: An applicant must:
1. Be a member of a UM Church within the bounds of the NCNY Conference, or be a worthy student sponsored by a UM Church within the Conference; and
2. Have enrolled as a student in a degree program from an accredited college or university; and
3. Have maintained a grade average of at least "C" or equivalent or better during the academic year prior to receiving the loan.
Application Procedure:
1. Applicants shall submit an official transcript of grades, and
2. Verification of enrollment (or acceptance) in a college or university for the year a loan is requested, and
3. A financial statement on the form provided, including the amount of the loan requested.
4. All applications must include a letter of recommendation from the pastor (or an appropriate officer) of the sponsoring church. This letter cannot be from a parent or guardian.
5. If an award is to be made, a co-signer of the promissory note is required. Arrangements for a co-signer should be made at the time of application. If an individual co-signer (parent, etc.) is not available, then the sponsoring church's Board of Trustees may need to fulfill this role.
6. To obtain additional loans, the above procedure must be repeated annually.
Trustee policy:
It is the policy of the conference trustees that funds, such as those from repayment of loans, not used for loans and/or administrative costs will be rolled back into the principal with the intent that the value of the original gift be maintained. Thus, repayment of the principal and interest on loans, on the terms outlined above, is essential.
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CONFERENCE MERIT AWARD SCHOLARSHIP
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The Merit Award Scholarship is provided by funds collected through the Student Day Offering. Awards are made to those United Methodist students who are attending United Methodist colleges or universities. Awards shall be for no more than $1,000 per annum and no less than $500 per annum.
Application Procedure:
Guidelines
1. Awards are made to United Methodist undergraduate or graduate students, who are enrolled in a full-time degree program at an institution of higher education recognized as United Methodist by the University Senate. The student should be from a local church within the conference, but the college need not be within the bounds of our conference.
2. Awards will be based on merit. Merit can be in terms of academic scholarship, church involvement, financial need, special vocational preparation for ministry or service, or a combination of these factors.
3. Awards will be made for the academic year 2008-2009.
4. The award will be made to the student or his/her parents as a contribution to the cost of education. The award should not be treated as displacing any other aid to which the student may be entitled.
Process
1. The applicant must be nominated by a local church (pastor and/or chair of higher education ministry). A local church may submit only one applicant. Click here for an application form.
2. The nomination must include a statement and, as appropriate, documentation about the merit of the nominee (guideline 2, above). This will be the primary basis for selection among nominations. The statement must confirm that the nominee is United Methodist and will be attending a United Methodist institution of higher education. Also see "additional information" below.
3. Nominations must be submitted to the conference office on or before June 1, 2008. They may be addressed to the attention of the Conference Scholarships and Loans Committee, P.O. Box 1515, Circero, NY 13039.
4. Applications will be reviewed by members of the Conference's Higher Education and Campus Ministry Team.
5. We hope to announce the award winners shortly after June 15. Funds will be distributed when we are notified that the individual is indeed registered. The sponsoring church should notify the local school and other appropriate organizations of the award to celebrate the student's accomplishments locally.
Additional Information
The conference office must report the following information about award recipients to the Office of Loans and Scholarships in Nashville: full name, social security number, address, age, telephone number, e-mail address, gender, whether undergraduate or graduate student, gender, and ethnic group. Also, intended vocation, local church and pastor's name, academic classification and expected graduation date. If possible, all of this information should be submitted with the nomination. It will be required before a check is issued.
An application must be received by the Conference Office, care of the Loans and Scholarships Committee by June 1, 2008.
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SEMINARY LOANS
BOARD OF ORDAINED MINISTRY
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Certified ministry candidates who are enrolled in a Master of Divinity program at an approved theological school may qualify for seminary loans.
For information and application forms, contact:
Rev Roland R Ryan
506 McLean Road
Cortland NY 13045
(607) 756-0910
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