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Education pays accepting loan applications

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TELL CITY – The Board of Directors of Education Pays Student Loan Fund of Tell City/Perry County has announced it is accepting applications for interest-free loans to be awarded to students pursuing a post-high school education for the fall, 2019, semester. Applications are available at the offices of the guidance counselors at Cannelton, Perry Central and Tell City High Schools. The deadline for submitting applications is June 1. 

The original purpose of Education Pays, formerly known as Dollars for Scholars, was to make available to Tell City High School graduates interest-free loans for the pursuit of post-high school education. More than fifty years ago, the Tell City Jaycees raised $87,000 from businesses and residents of Tell City. Those funds have become a perpetual gift to the graduating seniors of Tell City as the repaid funds are loaned out year after year. For more than five decades, Education Pays has used the original funds of $87,000 to loan in excess of $800,000 to more than 1,500 graduates of Tell City High School. In 1999 Education Pays, then Dollars for Scholars, expanded its interest-free loan program to include graduates of Perry Central High School and Cannelton High School. It was able to do so because it received a grant of $100,000 from the Indianapolis-based Lilly Endowment, Inc. The grant was part of the Endowment’s GIFT III (Giving Indiana Funds for Tomorrow) Initiative. The $100,000 received from Lilly allowed Education Pays to expand the scope of its giving to include graduates of Cannelton High School and Perry Central High School. This is the 21st year funds have been available to graduates of all three of Perry County’s high schools.

The interest-free loan program is also available to students entering college for the first time but who are not current year high school graduates and to those who are entering their second or subsequent year of college or trade school.

Anyone with questions about Education Pays should contact Darla Goffinet, the chapter’s president, at 547-3891 or at cgoffinet@psci.net.