Institutional loans are awarded based on the available funding for each loan. Loan funds are kept in a revolving fund, which enables us to award students when past borrowers repay their loans. The loans are awarded to those students on a case-by-case basis, with low Expected Family Contributions (EFC) who demonstrate unmet need, and who have first exhausted all of their Stafford Loan eligibility. It is meant to help bridge the gap for those students who have no other options.
All students who are awarded an institutional loan are provided the Application/Solicitation Disclosure, the Approval Disclosure and the Disbursement Disclosure Forms. Students are required to sign a Promissory Note and complete the Self-Certification form before the funds can be disbursed to their student accounts. Students are given 3 business days to cancel the loan before the loan funds are disbursed to their student accounts. Bellarmine encourages all students to borrow Stafford and institutional loans before borrowing private/alternative loans.
George L. Bagby Loan
Requirements: The recipient agrees to maintain his/her qualification as a full-time student at Bellarmine University according to the rules and regulations of the institution.
Interest rate: 6% - Interest shall accrue on the loan at the rate of 6% per annum, beginning 6 months after completion or termination of student status at Bellarmine University.
Grace period: 6 months - Payments upon such loan advancements shall begin 6 months after graduation from Bellarmine University or, in the alternative, 6 months after ceasing to be a student at Bellarmine University for any reason whatsoever except to continue his/her education toward a graduate degree or in vocational training in a recognized vocational school, and, upon demand, it is agreed that evidence of adjusted gross income shall be made available to an appropriate officer of Bellarmine University.
Joseph C. Hofgesang Loan
Requirements: The recipient agrees to maintain his/her qualifications as a student at Bellarmine University according to the rules and regulations of the institution.
Interest rate: 5% - Interest shall accrue on the loan at the rate of 5% per annum, beginning 6 months after completion or termination of student status at Bellarmine University.
Grace period: 6 months - Payments upon such loan advancements shall begin 6 months after graduation from Bellarmine University or, in the alternative, 6 months after ceasing to be a student at Bellarmine University for any reason whatsoever except to continue his/her education toward a graduate degree or in vocational training in a recognized vocational school, and, upon demand, it is agreed that evidence of adjusted gross income shall be made available to an appropriate officer of Bellarmine University.
Charles E. Schell Loan
Requirements: The recipient agrees to maintain his/her qualifications as a full-time student at Bellarmine University according to the rules and regulations of the institution.
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Must maintain 2.0 grade point average, based on 4.0 system
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Shall be a young man or woman between the ages of 15 and 25 years of age who is a citizen of Ohio, Kentucky, West Virginia or adjoining states and appears to be honest, upright, intelligent, of practical appearance; who is 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.
Interest rate: 0%
Grace period: 6 months - Payments upon such loan advancements shall begin 6 months after graduation from Bellarmine University or, in the alternative, 6 months after ceasing to be a student at Bellarmine University for any reason whatsoever except to continue his/her education toward a graduate degree or in vocational training in a recognized vocational school, and, upon demand, it is agreed that evidence of adjusted gross income shall be made available to an appropriate officer of Bellarmine University.