Educational Loan Fund
The P.E.O. Educational Loan Fund (ELF) makes loans available to qualified women who desire a higher education and are in need of financial assistance. All applicants for the ELF Loan Fund must be recommended by a local chapter of the P.E.O. Sisterhood. The current rate of interest is 2 percent.
Maximum student loan amounts are:
- $12,000 for a non-degree accredited program, an associate or bachelor’s degree
- $15,000 for a master’s degree
- $20,000 for a doctoral degree
An applicant must maintain the scholastic grade point average required for graduation by the school of her registration. A transcript of grades is submitted to the P.E.O. Executive Office as part of the application process and, if requested, before each loan installment is drawn.
Six months after the borrower’s stated graduation date or withdrawal from educational program, equal installments of combined principal and interest will commence.
Monthly loan payments will not be deferred if the student continues with further study or joins a service organization.
Eligibility Requirements & Application forms
Eligibility
A woman is eligible to apply and receive consideration for an ELF loan if she:
At the time a loan is disbursed, a student must be enrolled full time or part time in an accredited U.S. or Canadian postsecondary institution. Proof of enrollment is required before each loan installment is paid. Final disbursement must be at least four months prior to stated graduation or course completion date.
Chapter Recommendation
When a local chapter becomes aware of a student's interest, the chapter's P.E.O. Educational Loan Fund chair will arrange an interview with her. If the chapter votes to recommend the student for a loan, the chapter chair will complete and submit the online Chapter Recommendation Form.
Student Application
For more information at the Nevada state and local level, please contact us through our Contact Form (scroll to the bottom of the Home page).
A woman is eligible to apply and receive consideration for an ELF loan if she:
- Is recommended by a local chapter of the P.E.O. Sisterhood
- Is a citizen or legal permanent resident of the U.S. or Canada and resides in the U.S. or Canada
- Submits an application within six to 24 months prior to stated graduation or course completion date
- Is accepted in an accredited U.S. or Canadian postsecondary institution
- Has a high school diploma or equivalent
- Meets the minimum credit score of 625
- Does not exceed the indebtedness limit for her degree level
- Has two qualified cosigners for the loan
- Demonstrates financial need
At the time a loan is disbursed, a student must be enrolled full time or part time in an accredited U.S. or Canadian postsecondary institution. Proof of enrollment is required before each loan installment is paid. Final disbursement must be at least four months prior to stated graduation or course completion date.
Chapter Recommendation
When a local chapter becomes aware of a student's interest, the chapter's P.E.O. Educational Loan Fund chair will arrange an interview with her. If the chapter votes to recommend the student for a loan, the chapter chair will complete and submit the online Chapter Recommendation Form.
Student Application
- A chapter recommendation must be submitted early enough to allow the student to receive, complete and submit her application to the P.E.O. Executive Office at least six months prior to her graduation or course completion date.
- An online application will be sent to the student from the P.E.O. Executive Office. When completed, the application file will be released to the trustees for review. The average processing time is eight to 12 weeks, provided all requirements are promptly met.
- The chapter and student will be notified of the trustees' decision regarding the loan application.
For more information at the Nevada state and local level, please contact us through our Contact Form (scroll to the bottom of the Home page).