Ferree Foundation Loans

The Ferree Foundation offers low interest loans to Randolph County, North Carolina, students who are in full time academic programs at any accredited college or institution of higher education. The loans are for undergraduate study only.

Loan amounts may vary from year to year, and loan recipients
must re-apply each spring for the following academic year.
The maximum amount a student may borrow for the 2004-2005 academic year is $1000.  Students attending a community college may borrow $500 per year.

Who is Eligible

Loan recipients must be graduates of one of the five public high schools in Randolph County or must be Randolph County residents attending Randolph Community College. Loans are renewable for up to four years of undergraduate study provided the student maintains a 2.0 GPA and full time enrollment.

Interest Rates

Ferree Foundation loans are interest-free while the student is in undergraduate school. Students begin repayment within six months following graduation or when he/she has been out of school for six months. Interest begins at that time and is 1% the first year increasing annually to 6% the sixth year after leaving school.

The Application

Applications are available online, through the Guidance Offices at the five Randolph County  high schools, the Financial Aid office at Randolph Community College, or by contacting the Foundation.

Application deadline is May 1.  Foundation Trustees review applications in late May and all loan applicants will be notified in June of acceptance or refusal of their request. Loans are distributed semester by semester.

Randolph County High Schools:
Asheboro High School
Eastern Randolph High School
Randleman High School
Southwestern Randolph High School
Trinity High School