• The maximum amount of loan money available for an academic year is $5000.
• Loan checks are issued in the student's name only.
• An application must be completed for each academic year.
• Generally, students from Forsyth, Davie, Davidson, Stokes, Surry, Wilkes, and Yadkin counties may be considered for educational loans.
• Out-of-state students are typically not eligible for loan consideration.
• Limited loan funds are available to North Carolina residents.
• Undergraduate and graduate level students may be considered for loans.
• The interest rate for new student borrowers is reviewed for relevancy each year by the Foundation Committee.  The  current non-variable interest rate is 4%.
• Interest charged for a loan is payable annually, quarterly, or monthly while a student is enrolled in school.  Capitalization of interest is not an option.
• During the repayment phase of a loan, both principal and interest are paid.  As the principal is reduced per payment, the amount of interest is reduced.
• Repayment of the principal amount is deferred until the student-borrower leaves school.  There is a 60-day grace period prior to commencement of repayment.
• A student borrower must sign a promissory note and obtain the co-signatures of two other persons.
• Co-signers may be parents, guardians, or any other North Carolina resident with the exception of spouses, boyfriends, or girlfriends.
• The student borrower and the co-signers must have good credit ratings and be acceptable to The Winston-Salem Foundation's Student Aid Committee.

Once a borrower commences the repayment phase of the loan, the benefits of interest rate reduction can occur.

• Borrowers electing automatic bank draft for monthly payments will receive a ¼% interest rate reduction
• Borrowers will be rewarded for on-time payments at ¼% interest rate reduction at 12-month intervals concluding at the 72nd month
• All borrowers will benefit to some degree, regardless of the amount borrowed; however, failure to make timely payments will result in an interruption of rate reductions