Loans

For more than a decade, the Community Foundation of the Great River Bend has been providing financial assistance to area students. Whether it be in the form of a scholarship or an educational loan, the Community Foundation and its family of donors support students' pursuit of higher education.

The Community Foundation currently offers one educational loan to students in need; the Nabstedt loan. 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 scholarship department, email scholarships@cfgrb.org or call 563-326-2840.


Nabstedt Revolving College Loan Fund

  • The Nabstedt Loan is available for undergraduate and graduate students.
  • Amount: $2,800 Educational Loan.
  • Renewable: Undergraduate students can reapply for the loan once a year for three consecutive years, receiving the loan for a total of four years. Graduate students can reapply for the loan once a year for two consecutive years, receiving the loan for a total of three years. Successive loans are contingent on maintaining a minimum grade point average of 2.00 on a 4.0 scale and completing a minimum of 24 credit hours each academic year.

Requirements and selection criteria

  • Financial need.
  • A minimum grade point average of 2.00 on a 4.0 scale.
  • A graduate of a high school in Scott County.
  • The applicant shall be of good moral character.
  • 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.

How does the loan work?
No interest is charged while the student is enrolled in school. The interest rate on the unpaid balance to be charged annually for the loan will be the following:

  • 1st year 1.0%
  • 2nd year 1.5%
  • 3rd year 2.0%
  • 4th year 2.5%
  • 5th year 3.0%
  • 6th year 3.5%

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 to the student's 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 responsible for the debt should the student default.

How do I apply?
The following items need to be submitted with the application:

  • Transcript from high school, college or graduate school if applicable.
  • Character reference letter from your counselor or minister.
  • Photocopy of the SAR Report showing the EFC report (see your counselor for an application).
  • Download the application.
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