P.E.O. Educational Loan Fund

Educational Loan Fund(ELF), established in 1907, makes loans available to qualified women who desire higher education and are in need of financial assistance. An applicant must be recommended by a local chapter of the P.E.O. Sisterhood and be within two years of completing her course of study. http://www.peointernational.org/about-peo-educational-loan-fund-elf

The current maximum loan is $12,000 for all programs of study except for doctorate degrees. The maximum loan for doctorate degrees is $20,000. The interest rate on all loans is 2% and the loan must be repaid six years from the date of issue. Following the graduation date originally stated on the application, interest will begin accruing and will be billed on an annual basis. Interest accruals and payments will not be deferred if the student continues with further study.