Scholarship Foundation Interest-Free Student Loan

The Scholarship Foundation of St. Louis provides student loans that are renewable, interest-free, and available in amounts up to $11,000 per academic year. Students who receive an interest-free loan will have a 12-month grace period following graduation and returning a final promissory note, and an income based repayment schedule. The cumulative maximum that The Scholarship Foundation will loan to an individual is $55,000.

Please read the following eligibility criteria carefully before applying. In order to qualify for an interest-free loan from The Scholarship Foundation of St. Louis, an applicant must:

  • Be a resident of the St. Louis metropolitan area for at least two years prior to the date of the application or have graduated from a St. Louis metropolitan area high school in the past two years. The metropolitan area includes St. Louis city, the Missouri counties of St. Louis, Franklin, Jefferson, Lincoln, St. Charles, or Warren, and the Illinois counties of Bond, Calhoun, Clinton, Jersey, Macoupin, Madison, Monroe, or St. Clair.
  • Demonstrate significant financial need, as determined by the Free Application for Federal Student Aid (FAFSA) or similar need calculations. Applicants with a Student Aid Index (SAI) over $17,500 must have significant and extenuating circumstances to be considered.
  • Have achieved a minimum cumulative 2.0 grade point average on a 4.0 scale
  • Plan to attend an accredited, nonprofit college or university
  • Be seeking a first certificate, associate, or bachelor’s degree
  • Applicants with history of educational loan default or bankruptcy are asked to submit a statement of explanation

All fields of study, except the ministry and divinity degrees, are eligible for funding. Students who have already obtained a bachelor’s degree are not eligible to apply.

To be considered, completed applications and all required supporting documents must be submitted by the application deadline. It is the applicant’s responsibility to make sure that ALL required documents have been submitted by the deadline. The Scholarship Foundation may not be able to notify the applicant of missing documents prior to the deadline.

Students who apply for and/or are awarded an interest-free student loan may also have an opportunity to accept or decline scholarship grants from The Scholarship Foundation of St. Louis. Awards will be announced in June.

The Scholarship Foundation of St. Louis
6825 Clayton Ave, Suite 100, St. Louis, MO 63139
(314) 725-7990
info@sfstl.org

Award
up to $11,000 renewable
Deadline
05/15/2024
Supplemental Questions
  1. Have you lived in the St. Louis metropolitan area for at least two years? If not, will you have graduated from a St. Louis metropolitan area high school within the past two years?
  2. Applicant's Current Employer
  3. Applicant's Current Job Title or Occupation
  4. Hours Worked per Week
  5. List any other significant employment positions held within the last year.
    • 1. Employer
    • 2. Position/Title
    • 3. Dates Employed
    • 4. Reason for leaving
  6. What is the current marital status of your parents?
  7. If applicant's parents are divorced, upload a copy of the portion of the divorce decree relating to child support and payment for college.
  8. Parent (or legal guardian) 1 Full Name
  9. Parent (or legal guardian) 1 Phone Number
  10. Parent (or legal guardian) 1 Current Employer
  11. Parent (or legal guardian) 1 Occupation or Title
  12. Parent (or legal guardian) 2 Full Name
  13. Parent (or legal guardian) 2 Phone Number
  14. Parent (or legal guardian) 2 Current Employer
  15. Parent (or legal guardian) 2 Occupation or Title
  16. Do your parent(s) or legal guardian(s) have a bachelor's degree?
  17. Is English your first language?
  18. Have you (applicant) ever declared bankruptcy?
  19. Have you (applicant) ever defaulted on a loan made to you for educational purposes?
  20. If you answered YES to either of the two previous questions, please write a statement explaining the circumstances that led you to file for bankruptcy or default. Please indicate the type of bankruptcy (i.e. Chapter 13) and describe how long ago it occurred.
  21. Are you, or will you be, pursuing your first certificate, associate, or bachelor's degree?
  22. List the most significant volunteer and extracurricular activities in which you have participated.
    • 1. Name
    • 2. Date
    • 3. Brief Description
    • 4. Leadership Positions Held
  23. List the most significant honors or awards that you have received.
    • 1. Name
    • 2. Date
    • 3. Type of recognition
  24. Who has supported your ambition to work toward completion of your college/postsecondary education program? Please describe how this individual supported you.
  25. If there is information about your or your family’s financial circumstances and ability to pay for college that you wish us to take into consideration as part of your application, please describe them here. Examples include a change or loss of income over the past year or medical costs due to illness in the household.
  26. OFFICIAL COLLEGE TRANSCRIPT: If you are a current college student, upload your official college transcript. The transcript should reflect grades from your most recently completed semester.
  27. HIGH SCHOOL TRANSCRIPT: Upload your complete high school transcript. If you are a high school senior, upload your high school transcript INCLUDING GRADES THROUGH THE FALL 2023 SEMESTER.
  28. List any other postsecondary institutions attended in the last three years. OFFICIAL transcripts are required for any other postsecondary school attended.
    • 1. School
    • 2. Major
    • 3. Dates Attended
    • 4. Degree Attained
    • 5. Upload OFFICIAL Transcript
  29. STUDENT AID INDEX (SAI): Upload the complete 2024-25 FAFSA Submission Summary report from your FAFSA. If you are unable to file a FAFSA for any reason, please contact The Scholarship Foundation of St. Louis at info@sfstl.org or (314) 725-7990 for guidance on information that may be submitted as a substitute. (Click here for instructions to download your FAFSA Submission Summary.)
  30. If you have siblings who are currently enrolled, or will be enrolled, in college for the 2024-25 academic year, please enter the total number here.
  31. Dependency Status: Are you a dependent or independent student? (You are an independent student if you would answer "yes" to one or more questions in this list.)
  32. Are you pursuing a dependency override due to personal circumstances that prevent you from acquiring your parent's information on the FAFSA?
  33. FEDERAL STUDENT LOAN BORROWING HISTORY: Upload a screenshot of your borrowing history from your Federal Student Aid Dashboard which consists of your total balance of federal student loans and the breakdown of the individual Subsidized and Unsubsidized student loans borrowed to date. ( Click here for instructions to access your borrowing history.)
  34. Housing Plans: Select your housing plans for the school you plan to attend.
  35. FINANCIAL AID AWARD LETTER: Upload your 2024-2025 Financial Aid Award Letter. If you receive the financial aid award letter from your school by the application deadline, upload the document and submit it with your application. If you do not receive the letter by the deadline, you will be contacted to email the document before an award is considered.
  36. ESSAY: We are curious to know what drives your passion and commitment to improve the world around you. Please describe what issues are important to you that involve your community, educational success, or future. Why do you care about these issues more than others and why is it important for them to be addressed?
  37. We want to learn more about you: You may choose to submit something that you’ve created, or you may choose to write an additional essay. If you have a website, an art project, a personal video or other on-line file that you would like to share with us, please place the link in the next question and please explain what it is in the space provided here. If you choose to write an additional essay, please describe a challenge you have faced and how you dealt with it. Explain how having dealt with that challenge has shaped you, and if it has influenced your education and career path.
  38. On-line content (enter a link to the on-line content described above):
  39. SCHOLARSHIP CENTRAL RECOMMENDATION: Enter the name and e-mail address of an instructor, counselor, advisor, supervisor or other similarly qualified individual who will submit a recommendation on your behalf. NOTE: As the applicant, it is your responsibility to inform that person to watch for an email sent on your behalf that will explain how to complete this process.
  40. APPLICATION STATUS AUTHORIZATION: For your protection, The Scholarship Foundation of St. Louis requires your authorization to share personal information and the status of your application to a third party such as your parent(s), counselors, community-based organizations, etc. If you wish to grant authorization, please list below the names of the individuals and their relationship to you. If the individual is affiliated with an organization, please also include the name of the organization.
  41. APPLICANT SIGNATURE: By entering my full name below, I authorize The Scholarship Foundation of St. Louis and its agents to examine, verify and discuss my academic and/or financial records and other information which applies to the consideration of this application. I certify that all answers are accurate and truthful to the best of my knowledge, and that all information in the application and essays are my own work. I understand that the decisions made regarding my participation in this program are made by The Scholarship Foundation in reliance upon the truth and correctness of my statements.
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