SMPE JOURNAL ADVERTISING CONTRACT
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SMPE JOURNAL ADVERTISING CONTRACT
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THE
SOCIETY OF
POB
466
APPLICATION
FOR SCHOLARSHIP LOAN Applicants and their parents or guardians are requested to familiarize themselves with the Requirements for Scholastic Loans before filing in this application. The applicant's parent or guardian must be a member in good standing with the Society for a minimum of three years in order to qualify. The Board of Directors will determine the
maximum amount of each annual loan. STUDENT'S
APPLICATION FOR A LOAN FROM THE SCHOLARSHIP FUND
High School Address: Graduation Date: Have you previously been enrolled in any post secondary school? If so, give name, address of school, and years attended:
Have you been accepted for enrollment or are you presently enrolled at an institute of higher education? If so, gave name and address of institute course of study and anticipated degree: When do you expect to be graduated from above institute of higher education? If the academic period covered by the requested loan is in graduate study, what undergraduate school did you attend, what degree have you received, what date? CERTIFICATION OF APPLICANT: I certify that the information given herein is true and correct, and the Society is hereby authorized to verify same. The funds for which application is made are necessary to permit me to pursue my education and will be used solely for that purpose. I fully understand my obligations incurred by the acceptance of this loan, both as to usage of the sum provided and conditions agreed for repayment. Signature of Applicant: Date: TO BE COMPLETED BY THE S.M.P.E. MEMBER PARENT OR GUARDIANMember Name: Home Address: Phone #: Membership Status: Date Joined: CERTIFICATION OF MEMBER: I have read the foregoing application in full and hereby state that to my knowledge my child is applying for aid to further his/her education at the above listed school. Signature of Member: Date: PROMISSORY NOTE I/WE promise to repay the S.M.P.E the full amount of the loan received, which will be interest free, under the following conditions: Payment is to be made for each one year loan beginning in the fifth year after the loan date, after completion of a normal four year program. Each one-year loan is to be repaid within twelve months of the termination of the student’s studies, even if not graduated. Payments may be made monthly at the rate of one-twelfth the amount of the loan. For example, a $1,500. loan would be repaid at the rate of $125. per month. The student agrees to keep the Society informed regarding changes in his/her address
and telephone number. I/WE acknowledge that if timely repayment is not made in accordance with the conditions above, interest will accrue at the rate of one percent per month on the unpaid balance until the loan is repaid in full. We acknowledge and accept all the stipulations of the scholarship loan information
for applicants and
their parents or guardians.
Signature of Applicant: Date: Member Co-Signature Date:
POB
466 The Scholarship fund is made available to the children of qualified Members, Associate Members, and Retired Members in good standing. The applicant’s parent or guardian must be a member in good standing with the Society for a minimum of three years in order to qualify. It is also available to the children of deceased members, who were in good standing at the time of death. QUALIFICATIONS: In order to qualify, the applicant must already be in attendance or accepted for admittance as a full-time student in the next regular term of the indicated institution of higher education. ACCEPTABLE INSTITUTIONS: Accredited Colleges which grant degrees: Business Schools, Nursing Schools, and Trade Schools, which restrict admission to high school graduates and which have one of the following accreditations by: The Department of Education of their respective State, The National League for Nursing, National Accrediting Commission for Business Schools, The National Engineering Council for Professional Development. There are no restrictions on the program of study, except that it lead to a degree or diploma. Furthermore, there are no restrictions on pre-college preparation, except that the student be graduated from a secondary school and be accepted for admission or be enrolled in an approved institution of higher education of his or her choice. This includes graduates of public, private, and denominational secondary schools. Pre-college students are those who have successfully completed high school equivalency examinations. The Board of Directors will determine the maximum amount of each annual loan, and the total amount available to all applicants. The total amount available will be distributed in the order in which applications are approved. TERMS: Loans made to deserving applicants will be repayable to the S.M.P.E under the terms of arrangements to be made by the scholarship Committee of the Society. For each loan a note of indebtedness (Promissory Note) be signed indicating that the note is interest free for a period of five years and is due and payable five years from the date of execution. On notes of indebtedness not paid on the due date, interest on the unpaid balance at one percent per month on the unpaid balance until the loan is repaid in full. The approved loan will be paid directly by the Society to the school of the applicants choice prior to beginning of the academic school year, provide application is made at least four months prior. APPLICATION PROCESS: The Scholarship Committee of the Society will review applications, and seek any verifications it feels necessary. Applicants receiving favorable consideration will be submitted by the committee with their recommendations to the Board of Directors of the Society for their final approval, after which applicants will be notified as to the Board’s action. Each individual will be entitled to a maximum of four such loans regardless of his or her scholastic position, graduate or undergraduate. Interest will not be charged on these loans. Applicants must re-apply for a loan each school year, as there is no automatic renewal. Repayment of the loans must commence one year after graduation (or after leaving school, if not graduated) unless the student asks for a grace period due to full time postgraduate studies and the Scholarship Committee grants it. NOTIFICATIONS: Students and or their Society parents must promptly notify the Scholarship Committee promptly of any change in status from other than full time student. The Society Member parent must remain a member in good standing for the duration of the student’s loans. By co-signing the promissory note, the Society member assumes secondary responsibility for repayment of the loans. The student and co-signing member agree to keep the Society informed regarding changes in his/her address and
telephone number. SMPE 07.15.03 |