Interest-Free College Loans

Some charities and religious and ethnic organizations offer low- or no-interest education loans. Students can still apply for several of these interest-free loans for the upcoming school year.

Evalee C. Schwarz Charitable Trust for Education
Deadline: April 15
Makes loans of up to $15,000 a year for students who will be attending an in-state school with expected family contributions of less than $4,000, high test scores and grades, and no plans to become lawyers.

The Scholarship Foundation of St. Louis
Deadline: April 15
Makes about 630 loans annually of up to $5,000 a year for meritorious students who come from parts of Missouri and Illinois and whose families have EFCs of under $12,000.

Hattie Strong Foundation
Deadline: April 30
Makes about 125 new loans annually of up to $5,000 for meritorious and needy fourth-year college students.

Bill Raskob Foundation
Deadline: May 1
Makes about 100 loans annually (although the number varies considerably) averaging $5,000 a year to U.S. citizens attending accredited American colleges who have finished their freshman year.

Central Scholarship Bureau
Deadline: May 31
Makes loans of up to $10,000 each year for no more than four years to meritorious students from Maryland whose families have adjusted gross incomes of less than $91,000.

Abe and Annie Seibel Foundation Deadline: February 28
Makes 800 loans of up to $6,000 annually to Texas residents attending a Texas college who have good grades and test scores. No website; (409) 770-5665.