Loan Program

Work Up a Sweat While Building Your Own Home

The Mutual Self-Help Housing Loan Program helps low-income households construct their own homes. Families perform approximately 65% of the construction labor on each other’s homes with professional supervision. This sweat equity reduces labor costs and the price of the home. Mortgage payments are 22 to 26 percent of the applicant’s income.

Visit: www.rurdev.usda.gov/rhs/sfh/brief_selfhelpsite.htm

$$$ for You: CSU Forgivable Loan Program

The Forgivable Loan/Doctoral Incentive Program (FLP) is a competitive program that provides loans to a limited number of full-time doctoral students at accredited universities. The Program provides loans of up to $10,000 per year. Participants may borrow a maximum of $30,000 over a five-year period. Contact The California State University, Office of the Chancellor, 401 Golden Shore, Long Beach, CA 90802-4210; 562-951-4000; Continue reading

100000 To Open A Business

in a small town in Minnesota. It’s not a grant but a low-interest loan. But what the heck. If someone is going to offer you $100,000 to get your venture going, take it any way you can. See the Rural Challenge Grant Program at http://www.dted.state.mn.us/01x02f.asp. The state also has a program that gives out $10,000 if you are a minority who wants to start a business in the city. Its called the Urban Initiative Loan Program.

Visit: www.dted.state.mn.us/01x02f.asp.

Interest-Free Forgivable Loan: Redeemer University

If you are a prospective or current student of Redeemer University you may be eligible to obtain interest free forgivable loans. This is a loan program whereby qualifying students receive a loan to pay for part or all of their tuition and related costs for the academic year. If certain conditions are met the entire loan may be forgiven after the end of the academic year. To qualify for the program students must demonstrate financial need. Contact Redeemer University College, Office of Financial Assistance, 777 Garner Road East, Ancaster, ON Canada L9K 1J4; 905-648-2131, 800-263-6467; Continue reading

$$$$ Baker University Loan Forgiveness!!

At the request of the Baker University, we are posting that the information below is no longer valid. The Challenge/Loan grant no longer exists. No word on whether or not a new grant or program is forthcoming. Please do not contact them about this expired program.

Students who complete a bachelor’s degree at Baker University’s College of Arts and Sciences may be eligible for the school’s loan forgiveness program. The Challenge Loan program becomes available beginning a student’s sophomore year. The funds start out as a loan, but are forgiven if you graduate from Baker. Contact Baker University, P.O. Box 65, Baldwin City, KS 66006-0065; 913-594-6451; Continue reading

60000 If Your Mortgage Payments Are Over 60 Days Due

the Pennsylvania Housing Finance Agency offers state residents a loan program designed to protect citizens who, through no fault of their own, are financially unable to make their mortgage payments and are in danger of losing their homes to foreclosure. Participants in the Homeowners’ Emergency Mortgage Assistance Program receive loans to help bring delinquent payments current. Continuing monthly assistance may be available as well. Total financial assistance maximum is $60,000, or 24 months of payments. Participants are expected to contribute $25 per month for payments during the term of the loan. Contact: Pennsylvania Housing Finance Agency, 211 North Front Street, P.O. Box 15530, Harrisburg, PA 17105-5530. Phone: 800-342-2397,

Visit: www.phfa.org/programs/hemap/index.htm

15000 Loan Forgiveness Paid Directly To You

This program is offered to individuals attending a program of study designed to prepare them to become a licensed dentist. Selected participants are eligible for up to four years of loan forgiveness. There is a minimum service obligation of three years. Each year a participant must deliver service totaling 25 percent of their yearly patient encounters to a public program or sliding fee scale patients. In turn, the ORHPC will pay directly to the participant an annual lump sum of approximately $15,000. For more information contact the Minnesota Department of Health, Office of Rural Health and Primary Care, Attn: Loan Forgiveness Program Officer, P.O. Box 64975, St. Paul, MN 55164-0975; (800) 366-5424

Visit: www.health.state.mn.us/divs/chs/dentist.htm