Our church has a student loan fund administered by the Student Loan Committee of PCC. It is the mission of the Hamilton-Roughgarden Student Loan Committee of Pasadena Community Church to encourage students to further their education by providing financial assistance through loans to students in need for tuition and other educational program expenses during the time of their schooling, and to oversee the repayment of such loans after their training.
The Hamilton-Roughgarden Student Loan Fund was established in the 1930’s by late Dr. and Mrs. J. Wallace Hamilton to give a helping hand for college or vocational training to youth and adults furthering their education. It was supported by profits from the sale of Dr. Hamilton’s printed sermon pamphlets, as well as, a trust from the Roughgardens and other donations through the years.
How To Apply
The Fund is administered by the Student Loan Committee of Pasadena Community Church, which meets 3 times per year to consider applications. Students are asked to submit their applications by November 15 for Spring Semester, April 15 for Summer Semester and July 15 for Fall Semester.
Anyone planning to attend college or vocational school that has a high school degree of GED who is a member or directly related to a member of PCC may apply for a loan. In granting loans the Committee will follow guidelines regarding academic standing, membership and activity in the church, and the availability of money for loans.
Download Application-Apply Online.
Click on link below to download the Application.
Complete and mail it in – or you may complete the Application online and e-mail it to the Church’s Secretary.
Choose the approach that’s most convenient and comfortable for you.
The limit for loans is $1,600 a semester for two semesters in a 12 month period. Each loan must be applied for separately. The maximum lifetime loan amount is $12,800.
The Committee requests that a photocopy of the student’s latest high school or college grades and a picture of the student be attached to the original application. A student’s application also requires the names of two (2) financially responsible co-signors, who along with the student must sign a promissory note, each acknowledging responsibility for repayment. One or both co-signers may be parents.
To accompany the application (first time only) the Committee requests the student write a short letter outlining his or her plans, the number of semester hours to be carried, and anticipated time required to complete school.
Any first time applicant will be asked to come in for an interview with the Committee.
While the student is in school, taking advantage of the Loan fund, the Committee expects a photocopy of the student’s grades at the close of each semester.
The Committee does review semester grades and expects students to maintain good academic standing. Failure to do so will result in review by the Committee.
Once funds are issued the student has the responsibility for notifying the Student Loan Committee of any address changes and of the date of graduation, completion or separation from school, with the note becoming due and payable six (6) months after that date.
After six (6) months, the note may be paid off in full with no interest, OR a repayment schedule may be set up and a new installment promissory note executed. Interest will begin running at one percent (1%) per year on a note maturing in four (4) years, OR five percent (5%) interest on a seven (7) year note. An amortization schedule will be provided according to the terms of the note. If any scheduled payment becomes delinquent for more than ninety (90) days, the interest rate will be raised to eight percent (8%) for the remainder of the term of the loan.
If you have any questions, please email:
Susan Sanders, Church Administrator [email]