Loans

Eligibility

• Candidates may apply after they have achieved sophomore class status at an approved college or university and meet the requirements for admission to a teacher preparation program approved for teacher licensure by the Kansas Department of Education
• The Geary Community Schools Foundation (GCSF) will review applications and select the number of recipients based on resources available for the current year
• Students selected to participate in their first year may apply for additional loans thereafter until the teacher preparation program is complete.  The student must be in good standing at the time of the request and must provide evidence of continuous enrollment in their teacher preparation program
• A copy of the student’s most recent college transcript must be submitted to the GCSF  at the end of each semester.  Students who are not in good standing will not be eligible for continuing to receive a loan
• Loan proceeds will be paid directly to the designated college or university to be used for tuition

Application Process

Application Due Date: June 15

Candidates will be identified through an application process that requires recommendations from high school teachers, university professors and/or USD 475 supervisor(s), evidence of academic excellence and/or superior job performance in USD 475.

To apply, please contact the Geary Community Schools Foundation at gcsf@usd475.org or 785-717-4063.

Financial Support

Terms of Loan Forgiveness

Loan Cancellation or Discharge

“Cancellation” or “Discharge” refers to canceling the loan agreement for unusual and unpredicted circumstances.  Circumstances justifying cancellation or discharge are expected to occur infrequently and will be approved by the Geary Community School Foundation (GCSF) on a case by case basis.   Students who wish to request cancellation of the loan amount may submit a written request to the GCSF Forgivable Student Loan Committee describing the circumstances.  The Committee may choose to initiate the process of considering cancellation or discharge.

Terms of Default

If the loan recipient fails to meet terms of the GCSF, the recipient will be considered in DEFAULT and will then be responsible for repayment of the balance of the loan plus interest equal to 1% above the prime lending rate at the time the loan was initiated using the prime rate according to the Wall Street Journal, plus attorney fees incurred by the Geary Community Schools Foundation.  The GCSF may agree to a payment plan for repayment in case of default. 

• Failure to maintain continuous enrollment in the preparation program will be considered a default whether the result of 1) lack of attendance (unless permission to pause is approved by the GCSF OR changing a major outside of education.  If the loan recipient selects a major outside of education before graduation from the teacher preparation program, this will be considered a default.  The full amount of loans received plus interest as described above will be due and payable within a length of time equal to the number of months since the loan amount was paid to the college or university. 
• Loss of “Student in Good Standing” status—Students who fail to remain in good standing in their program will not be eligible for loan renewal.  The GCSF may agree to a semester opportunity (without loan) to regain good standing and establish loan eligibility.  After two semesters without good standing status, the forgivable loan will be considered to be in default.   The full amount of loans received plus interest as described above will be due and payable within a length of time equal to the number of months the loan amount was used. 
• If the student does not teach in USD 475 under the terms described, the full amount of the loan must be repaid to the GCSF. The full total amount of loans received plus interest as described above will be due and payable within a length of time equal to the number of months the loan amount was used.  

Disclaimer

Recipients cannot be guaranteed employment by USD 475, although they will be guaranteed an interview.  A stringent selection process and monitoring system will minimize the possibility of funding candidates who do not demonstrate the capability of meeting USD 475 teacher standards.  The loan contracts will include a repayment obligation clause, which will be activated for any recipient who fails to complete the course of study or who does not teach in Geary County Schools after graduation if offered employment.