The Foundation's Student Loan Program offers low interest student loans to individuals attending college. The interest rate is currently 4%.
WHAT YOU NEED TO KNOW ABOUT LOANS FROM THE WINSTON-SALEM FOUNDATION
- To view a summary of how The Winston-Salem Foundation's loan program works, click here.
- The maximum amount of loan money available for an academic year is $5,000.
- 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 adult 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.
INTEREST RATE REDUCTIONS
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

