SOMERVILLE

JJ SOMERVILLE LOAN

Established in 1998 as a university loan for students with extenuating circumstances. The loan is interest free, with a minimum payment of $50.00 per month. Repayment begins 6 months after graduation or withdrawal from Ohio Wesleyan, which ever is first.

It is further agreed:

That the student assumes responsibility for keeping the college informed concerning changes in name, address, and/or employment status.
If after graduation from Ohio Wesleyan University, the student continues his or her education in an accredited college or graduate school. The date for beginning payments on the loan may be postponed until (6) months following the termination of undergraduate or graduate study provided that such study proceeds continuously on at least half-time basis.

The student must submit verification of enrollment as at least a half-time student by appropriate officer from the institution that he or she is attending, and the responsibility for transmitting this information in a timely manner to Ohio Wesleyan University.

In the event of default in payment on any installment, the entire unpaid balance, shall, at the option of the university become immediately due and payable.

Eligibility for this loan is determined by: The Financial Aid Office, The Accounting Office and the Dean of Enrollment Management.

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