Katherine Bogardus Trust Loans

The Katherine Bogardus Trust is oferring low interest loans.

Borrowers must be DeWitt County residents or a descendant of Katherine Bogardus’ first cousins. Loans are granted to pay tuition. Interest is at the rate of 3% per annum, and it begins accruing when the funds are borrowed. The maximum lending limit to any student is $16,000.00. There should be a need for outside help, and the fact should be established that help is unavailable elsewhere. Each student is to contribute, if possible, with part-time employment. As Trustee, we must determine that the student has a reasonable chance of success in completing their chosen course.

Students are required to contact us with any address changes and notify us to begin repayment when he/she graduates, ceases attending school, or ceases attending school at the institution enrolled at on the loan date. Repayment begins no later than six months after graduation or termination of schooling and is to be completed within 10 years. As Trustee, we will set forth the terms of repayment: the amount, the frequency and the final payment date.

Students who are interested in applying should contact Nate Sams at 935-3144, extension 473, or nsams@sblincoln.com for an application and listing of the documents required to be submitted with the application. When we are contacted, we suggest to students that they begin completing their applications four weeks prior to the date their tuition is due.

If you have any questions, please do not hesitate to contact Nate or Gail Nunnery at 217-735-5551, extension 325, or gnunnery@sblincoln.com.