Student Loans

Student Fiscal Services - Custer Hall 100
600 Park Street
Hays, KS 67601
Phone: 785 628-4253
Fax: 785 628-4074
E-mail: sfsmail@fhsu.edu

Drury Loan Fund
Student Fiscal Services Endowment Loan Program

Loans for students majoring in

• Nursing
• Radiologic Technology
• Medical Diagnostic Imaging
• Communication Disorders

One of the services provided by Student Fiscal Services is the administration of an Endowment Loan program endowed by Bert E. and Susie Drury. Mr. and Mrs. Drury, formerly of Hill City, KS, gave a bequest to the FHSU Endowment Association to help educate young people who wished to study and work in the medical field, particularly in the cancer field. Susie Drury wanted the income from their bequest to be used for the purpose of making low interest bearing loans to worthy students who will study nursing, medicine, or medical technology. Loans are subject to availability of funds.

Loan Terms

The interest rate for the loan(s) will be 1% per annum.

Maximum Principal Loan Amounts:

• Undergraduate - $10,000
• Graduate - $7,000

Loan maximums per semester (only one loan per semester) vary according to the hours in which the student is enrolled and student classification.

Maximum Loan Advance Per Semester

Criteria

• Borrowers must be enrolled at FHSU and be officially accepted into their designated field of study.
• Borrowers must have a minimum cumulative GPA of 2.0 or greater and must be enrolled in at least 6 credit hours at FHSU.
• Students are ineligible for a loan if any of their institutional loan history includes sporadic payments, delinquent status, involvement with a collection agency, or was written off for any other reason.
• Students may be ineligible for a loan if they have any delinquent accounts at FHSU.
• Students who have been granted a deferment on a previous loan are ineligible for a new loan until the existing loan is paid in full.
• The loan requires a cosigner who must be someone:
  • at least 21 years of age
  • not currently enrolled as a student
  • not the borrower's spouse
  • who does not have an outstanding loan balance with the FHSU Institutional Loan Program
  • who has not cosigned for more than $3,000 in institutional loans for any borrower
  • who is a United States citizen with a U.S. address
• The borrower and cosigner signatures must be witnessed by a notary public on the Master Promissory Note.
• Both the borrower and the cosigner must provide accurate and adequate addresses and references.

Processing and Disbursement

• Loans will be issued as per schedule determined by FHSU Student Fiscal Services. No loan funds will be disbursed before official enrollment.
• At the beginning of each semester for which the student is eligible, the maximum semester loan amount will be advanced without request or additional documentation. Advances will continue at the beginning of each semester the student is eligible unless written notification is received by FHSU Student Fiscal Services or until the entire requested principal loan sum has been advanced.
• No loans are granted after midterm of any semester. Only one loan disbursed per semester.
• Loan funds will be directly applied to any institutional charges at FHSU. Any remaining funds will be deposited to the student's Tiger Card (exceptions may be made for students who do not have on-campus classes by notifying Student Fiscal Services in writing at the time the loan application is completed). A receipt will be sent to the permanent address listed on the Student Information System in the Registrar's Office.

Loan Repayment

• Interest accrues at the rate of 1% per annum upon inception of repayment.
• Payments for principal and interest will begin three months after graduation or withdrawal from the approved program of study at FHSU. Payments will be sufficient to pay the note off within 5 years from the date of graduation or withdrawal. Minimum monthly payments will be $40 with payments rounded to the nearest $5. A 10% late fee will be charged on delinquent accounts.
• A student may prepay the loan without penalty at any time prior to the required repayment schedule.
• If an account becomes 30 days or more overdue, the borrower and the cosigner may not be allowed to enroll at FHSU. Academic transcripts may also be withheld.
• Delinquent accounts may be turned over to collection agencies, an attorney, State of Kansas Setoff Program or taken to small claims court with the borrower paying all collection and/or litigation costs. The same collection procedures may be used with the cosigner.
• An appeal committee will review written documentation for loan exceptions, repayment extension or extenuating circumstances. The decision of the appeal committee is final.

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