Thank you for your inquiry about loans from the Bill Raskob Foundation, Inc.
Basically, the Foundation seeks to aid deserving students through no-interest educational loans. We do not award scholarships, grants or gifts.
The Bill Raskob Foundation, Inc. is a small family foundation, and depends upon the repayment of loans in order to continue to help students obtain an education. It is important that you recognize there is a moral as well as legal obligation to repay any loan that you may receive.
In order to qualify, you must be an American citizen, enrolled at an accredited institution for the upcoming school year. At present, the Foundation is not accepting applications from foreign students, US students graduating from a foreign school, for first-year study (undergraduate), medical students (except those funded last year) or correspondence courses. You will also wish to know that it is the policy of this Foundation to not fund students through more than one degree...or accept applications for theses, dissertations, internships, residencies or affiliations. (If you are in a combined Degree Program, you might wish to call the Foundation at (410) 923-9123 to see if you qualify, prior to submitting an application.)
Regarding repayment, the Foundation offers a 6-month "grace period" following graduation to all students, except medical\dental\veterinary students who may begin repayment within 12 months. The Foundation determines the repayment schedule and time frame...and since the Bill Raskob Foundation, Inc. basically operates as a revolving loan fund, deferments are not granted. The Foundation strongly recommends that all applicants apply for government loans or grants. Since this is a small family foundation with limited funds to distribute, a student's efforts at locating funding from as many sources as possible are often considered by the Board of Trustees as an indication of serious intent and responsibility. (Note: The average loan is for $5,000.) The student must complete the application form. Loans are made to the student applicant (not the parents, the school or outside agencies), so the ability to follow instructions is a factor taken into consideration. All additional information (see Checklist on Application Form) must be supplied before the Board will consider your application. Also, a personal interview may be requested, depending upon geographical location. If any requirements are not satisfied, the application may be automatically rejected. (Please make copies of applications for your records.) If you meet the above qualifications, and now wish to apply to the Bill Raskob Foundation, Inc., we will be happy to hear from you. Our Board of Trustees meets once a year to consider applications. Requests for applications are accepted from January 1st through April 30th. The deadline for submitting completed applications is May 15th. You will be notified of the committee's decision in July or August.