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The Polish Roman Catholic Union of America
("PRCUA") does issue Educational Loans to student members attending
College, under the following conditions:
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Students must be members of
the PRCUA. Their membership must be active at least one year prior to
applying for a loan. |
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The Applicant must be the
holder of permanent insurance with the PRCUA, in the amount of $5,000.00 or
more, with the proviso that the permanent insurance with the PRCUA is not
burdened with any debts. |
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The permanent insurance
certificate shall be pledged to the PRCUA as additional security for the payment
of the loan when due. If insured for less than $5,000.00, additional
insurance must be taken to qualify for the loan. |
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PLEASE NOTE, THAT
MEMBER MUST BE A FULL TIME STUDENT (AT LEAST TWELVE CREDIT HOURS) TO BE
ELIGIBLE FOR A LOAN. |
An applicant cannot receive
more than four such loans. Due to the great demand for these loans, the maximum
amount granted to each student is $1,000.00 per school year.
The loans are only applied towards the tuition, if the
applicant is approved. The check is made payable to the student and the school.
Therefore,
these loans can only be given after the student is registered in a College.
THIS IS A LOAN THAT THE STUDENT IS OBLIGATED TO
REPAY. There is no interest charged on these loans for the time the student is in
school. Six months after the completion of the regular 4 year college course or if the
student leaves school, or in default, interest at 5% will be charged.
The application should be
completed in full, signed by the member, and notarized by a Notary Public or signed by the Officers of the Society.
Return the application to our office together with the letter of REGISTRATION. The form will then be
presented to the Educational Aid Committee for consideration.
COMPLETED APPLICATION must be sent to:
Secretary-Treasurer
Polish Roman Catholic Union of America
984 N. Milwaukee Avenue
Chicago, Illinois 60642-4101
 Member's
Application for Student Loan - Form SL1290A
(Legal Size 8.5" x 14")
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