The Rotary Club of Davenport has offered educational loans since 1922. The program was created by the Rotary Club of Davenport and two additional contributing families, Walter and Alice Ackerman, and James and Marguerite Dunn.

Amount: $2,000 Educational Loan.

Renewable: Yes, past recipients can reapply for the loan once a year for three consecutive years, receiving the loan for a total of four years. A 3.0 GPA and an additional promissory note is required.

Requirements and selection criteria:

• Scott County resident
• GPA 3.0 or above

How does the loan work? No interest is charged while student is enrolled in school. The rate of interest charged after graduation will reflect the June 15th rate of the year the loan was signed for a 5-year U.S. Treasury Bond.

The student and co-signer are required to sign a Promissory Note. The note will be payable in equal monthly installments over a seven year period beginning three months after graduation, termination of studies, or seven years after the date of the initial loan.

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. The co-signer is also responsible for the debt should the student default.

To apply for the Rotary Club of Davenport Loan, click here

Applications should be sent to:
Nicole Freise
Community Foundation of the Great River Bend
852 Middle Rd, Ste 100
Bettendorf, IA 52722