APPLICATIONS AND FORMS
Applying for an Atlas Loan
Applications become available online on April 1st each year. Applications, along with all supporting materials, must be submitted by June 30. Because of this standardized cycle, students using an Atlas loan must commence their studies in August or September in the year the loan is issued. Please note that borrowers must apply each year to continue to receive their low-interest Atlas loan.
An application is not considered complete until your student aid report, proof of enrollment, essay, and faith/service leader endorsement form are submitted.
Eligibility
The applicant must be an active member of a religious body, or actively involved in a meaningful service endeavor. The applicant must be enrolled full time in an accredited secondary education program. Loans are generally only available for undergraduate study. Please contact us for special consideration of graduate and consolidation loans. Seniors in high school are encouraged to apply before high school graduation to comply with the above timeline.
Eligible Entities
The loan program began by making loans to UFMCC members in and around greater Cleveland. Today we accept applications from anyone involved in a faith community, or meaningful service activity, anywhere in the world. The success of the fund has allowed us to live out our mission on an ever-larger scale!
Faith/Service Leader Endorsement
A required part of the application process for first-time borrowers is an endorsement. Using a form we provide, the leader comments on the applicant’s involvement in the faith community or service project. This endorsement is one of the pieces of the application given most weight in considering awards.
Loan Approval & Repayment Process
The Atlas Fund Loan Committee reviews each application, considering the student’s academic record, service participation, college costs, and other pertinent information. When the first loan is approved, the student [and parent(s)] meet with the committee to discuss the loan and repayment plan, and to sign the promissory note. Future loans for subsequent college years do not require an in-person meeting, but students must apply each year. The distribution is made directly to the college or university or, in the case of consolidation loans, the lender.
After graduation, the student is expected to fully repay the loan within five years. These 60 even monthly payments begin six months after the student graduates or withdraws from study. In recent years, we have only in exceptional circumstances issued loans for more than $5000.00 per year.
Loan Signing Day
All first-time applicants meet with a committee member to secure the loan. This is the only time we meet with the applicant. These meetings are held on the first Saturday in August. Applicants who are not near a UFMCC church are provided with zoom options.
Automatic Payment Authorization
This form allows establishment of automatic debit payments for the loan. To complete, please print, complete the form, attach a voided check, and mail to the Atlas Education Fund as instructed on the form. Completed forms may be scanned and emailed, along with the voided check sent to
solacaritascleveland@gmail.com.
