schell

CHARLES E. SCHELL FOUNDATION STUDENT LOAN PROGRAM

Financial Aid office determines eligibility for this loan program. The funds are supplied by the Schell Foundation to provide educational assistance loans, without interest and without security to qualified students to aid them in securing a practical education that but for said loans would probably not otherwise be obtainable.

QUALIFICATIONS FOR RECEIPT OF CHARLES E. SCHELL LOANS

Men and women between the ages of 15 and 25 years of age who are citizens of Ohio, Kentucky, West Virginia or adjoining states and who appear to be honest, upright, intelligent, of practical appearance; who are of unmistakable loyalty to our country and its institutions- including the Army, Navy and Air Force. Recipients must be citizens of and born in the United States, of respectable parents of moderate means who are likewise citizens of and born in the United States. For any beneficiary under eighteen years of age, a parent must execute the application and promissory note.

ADMINISTRATION OF LOAN FUNDS

Funds are advanced to the student account after the loan application and promissory note are executed. One-half of the loan amount is applied in fall and the second half is applied in spring. Disbursement is subject to discontinuance on failure of recipients to maintain satisfactory progress(a 2.0 grade point average, based on a 4.0 system) or on development of disloyalty to the United States or its institutions.

LOAN REPAYMENT

Ohio Wesleyan University ‘s billing service is University Accounting Service(UAS). UAS is located in Brookfield, Wi, and services over 300 colleges and universities. UAS sends the monthly billing statement to the borrower and processes the payments on behalf of the school. UAS has an automated telephone system that allows the borrower to check the status of his account 24 hours a day. The toll free number is (800)999-6227. UAS web site address is www.UAService.com. Deferment and cancellation forms are available for download at this site. Address updates can be submitted at this address, and exit interview paperwork completed.

EXIT INTERVIEW

Go to the information about Exit Interview.

PAYMENT OPTIONS

Loan payments made by check or money order are sent to University Accounting Service, LLC PO Box 5291 Carol Stream, IL 60197-5291. Borrowers who need to make immediate payments may have funds deducted from their bank accounts via a new check-by-phone service. The payment amount is posted to the loan account within 48 hours of the request. Borrowers can also make electronic payments by completing an ACH Authorization Form for automatic deduction of student loan payments on a regular basis. ACH Authorization forms are available from the UAS web site, www.uaservice.com.

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