MOUNTAIN COMMUNITY BOOTSTRAPS LOAN FUND (Continuing Loans)
With the high cost of continuing education, it's almost impossible to graduate without student loan debt. Interest rates can be as high as 12% on private loans. Bootstraps wants to help you avoid the burden of high monthly payments when you leave school. All Bootstraps student loans are interest-free while you are in school and while you are paying the loan back, as long as you make monthly payments. The money you pay back is recycled into future interest-free loans.
Eligibility
You are eligible to apply for an interest-free loan if you answer yes to all of the following questions:
Application Dates
The application period is from May 1 through June 30 each year. If there are funds remaining after the first round of applications, the application period may re-open at the discretion of the Bootstraps Board of Directors. Recipients will be notified via email by July 31.
Loan Disbursement
Funds will be mailed to the recipient on or before August 30. Since it is important for Bootstraps to track the impact of the loan program, recipients will be required to complete a short survey before a check will be mailed. You will also be required to complete a promissory note.
Repayment
Loan repayment begins six months after leaving school. The promissory note shows the repayment schedule which is based on your total loan balance.
How to Apply
The application process is very simple. You will need the following items to submit your application. All of the items, except the Cost of Attendance, must be in a PDF format as you will have to upload them individually to the application system.
Eligibility
You are eligible to apply for an interest-free loan if you answer yes to all of the following questions:
- Did you receive a Bootstraps scholarship or loan upon graduation from high school?
- Are you pursuing an undergraduate degree or certificate?
- Are you enrolled in at least 12 credit hours?
- Do you have financial need?
- Are you in good academic standing with a minimum 2.5 GPA?
- Is your total Bootstraps loan balance less than $15,000?
Application Dates
The application period is from May 1 through June 30 each year. If there are funds remaining after the first round of applications, the application period may re-open at the discretion of the Bootstraps Board of Directors. Recipients will be notified via email by July 31.
Loan Disbursement
Funds will be mailed to the recipient on or before August 30. Since it is important for Bootstraps to track the impact of the loan program, recipients will be required to complete a short survey before a check will be mailed. You will also be required to complete a promissory note.
Repayment
Loan repayment begins six months after leaving school. The promissory note shows the repayment schedule which is based on your total loan balance.
How to Apply
The application process is very simple. You will need the following items to submit your application. All of the items, except the Cost of Attendance, must be in a PDF format as you will have to upload them individually to the application system.
- Student Aid Report (SAR). Go to StudentAid.gov to complete the FAFSA and receive a SAR.
- Unofficial copy of your most recent college transcript.
- Cost of Attendance (COA) for your school. This information can be found on your school's website. COA includes tuition, fees, room and board, supplies, books, insurance, and personal/travel expenses.
- Class schedule for your next semester or other proof of enrollment.
- The financial aid award letter from your school.
Questions? Call Susan at 720-618-8924 or send an email to susan@bootstrapsinc.org.
