P.E.O. Educational Loan Fund

The P.E.O. Educational Loan Fund (ELF) is a nonprofit initiative established by P.E.O. International in 1907. Its primary purpose is to provide low-interest loans to women in need of financial assistance to pursue higher education in the United States and Canada.

Purpose

The ELF aims to empower women by offering accessible financial resources, enabling them to complete their educational goals without accumulating significant debt. The program is designed to support a wide range of educational pursuits, including associate, bachelor's, master's, and doctoral degree programs, as well as technical and professional training.

Eligibility

To be eligible for an ELF loan, applicants must:

• Be recommended by a local chapter of the P.E.O. Sisterhood.
• Be a citizen or legal permanent resident of the United States or Canada.
• Be accepted by or enrolled in an accredited U.S. or Canadian post-secondary institution.
• Have a high school diploma or equivalent.
• Meet a minimum credit score requirement.
• Demonstrate financial need and not exceed the indebtedness limit for their degree level.
• Have a qualified cosigner.

Loan Details

• Interest Rate: ELF loans offer a competitive interest rate of 2% with no origination fees.
• Loan Amounts: The maximum loan amounts vary by degree level:
  • $12,000 for associate and bachelor's degree programs, non-degree programs, and technical or professional training.
  • $15,000 for master's degree programs.
  • $20,000 for doctoral degree programs (though $25,000 is mentioned in some contexts).
• Repayment Terms: No interest accumulates, and no payments are due until after graduation. Repayment begins six months after course completion.

Impact

The P.E.O. Educational Loan Fund plays a crucial role in supporting women's education by providing essential financial aid. By repaying their loans, recipients help fund future educational opportunities for other women, fostering a cycle of support and empowerment within the P.E.O. community.

The ELF is part of P.E.O. International's broader mission to celebrate, support, and motivate women's advancement through education, reflecting its commitment to empowering women worldwide.