Student Loans That Aren't From the Feds.

A lot of news stories have been generated about federal student loans for higher education.  But the feds aren’t the only source of loans.  Some private organizations that give scholarships may also provide low or no-interest educational loans for population groups that they serve.  Sure we love the truly free money.  But cheap money is a positive occurance, too.

There's this link to a CNN story with a list of no-interest student loans, courtesy of a couple dozen nonprofits across the USA.  They are open to targeted groups, mostly by geography, but check them out anyway--you could be in a target population.

For instance, The Evalee C. SwartzCharitable Trust for Education provides interest-free loans for needy students, and the Military Officers Association offers not only scholarships, but interest-free loans to the children of current and retired U.S. military officers. The Orphan Foundation gives loans and scholarships to former foster care children.

The P.E.O. Foundation gives low-interest loans to women who need help in completing their higher education.  The woman must be recommended by her local PEO chapter and be within two years of finishing their schooling, with a current interest rate no higher than 4% that must be repaid within six years of completing school.   The Pickett and Hatcher Educational Fund gives low-interest loans to undergrads who are not in the field of medicine, law, ministry or vocational education.

The most interesting of the bunch is the Theater Communications Group.  People are always beating the bushes for money to repay the student loans that are already out, but if you are a promising young professional in theater direction or design, they may provide money to help pay outstanding student loans.