Helping Students Attend Colleges & Universities in Texas Since 1954
The Franklin Lindsay Student Aid Fund is a nonprofit foundation created to help students in Texas obtain a higher education by providing fixed rate, low interest loans to students who are attending a Texas based college or university, have a GPA of 2.0 or better, and have 24 hours of college credit. Here are a few highlights:
* Loans up to $12,000 a year ($6,000 per semester)
* No application fees
* No payments due while you are in school
* No interest accrues while you are in school
* Interest begins to accrue on the first day of the sixth month after leaving school
* Approved loans are paid directly to the student and are not administered by the student’s college or university
* Funds are limited and early submission of the completed application to your committee member is strongly advised
Interested? Follow these links to learn more about the loan, check the full list of eligibility requirements, or go directly to the application page to see how the Franklin Lindsay Student Aid Fund can help you reach your goal of a higher education in Texas.
Do I Qualify?
Before submitting your application, make sure you are eligible for our loans:
Have you completed at least 24 credit hours?
Do you have a cumulative GPA of 2.0 or better (3.0 for grad students)?
Are you in school full time at a private or public nonprofit Texas-based college or university?
Are you a U.S. Citizen or Eligible Noncitizen?
If you answered yes, then you probably qualify!
Check the full list of requirements to make sure you’re eligible.
Click here to start the application process.
The Franklin Lindsay Student Aid Fund has started a payment incentive program. Here are the details:
Make five years of full on-time payments and your interest rate will be reduced to .5% for the remainder of your loan cycle.
Apply Now
Applications for the upcoming academic year are made available and are accepted starting March 1st. It is important to apply early since funds are limited. The process for applying for a loan from the Franklin Lindsay Student Aid Fund is:
Download and complete the application form.
Contact a current Loan Committee member (follow the instructions in the “Who can I talk with near me?” section of the site, under the “How Do I Apply?” tab).
Your designated Loan Committee member will set up an interview with you.
During your interview, you will need to submit your application and one copy to your Loan Committee member.
Your designated Loan Committee member will approve or decline your application and will forward all the documents to the Trustee for loan processing.
Within 30 days of receiving your completed application you will be notified of the status of your application.
If your loan is approved, a loan approval disclosure will be mailed to you from JP Morgan Chase. This disclosure needs to be signed and returned, indicating that you want to accept the loan.
After you have mailed the signed loan approval disclosure back to JPMorgan Chase a final loan disclosure notice will be mailed to you. If you don’t call to cancel, the funds will be released.
If you are awarded the loan, payment will normally occur in 2 equal payments, the first in August and the second in December.
To apply for a Franklin Lindsay Student Loan, download and complete the application form.
What Happens If I Am Accepted?
After your interview with the Loan Committee member, your application will be sent to JPMorgan.
JPMorgan will review your application for any missing information or documents.
Within two weeks of receipt of all required information, you will receive an approval letter with a loan disclosure document that you will need to review, sign and return to JPMorgan.
A week after the signed disclosure form is received by JPMorgan you will be sent a final disclosure notice. You will have a seven day window to contact JPMorgan if you no longer want to receive the funds. If you don’t contact JPMorgan, funds will be scheduled for release.
Funds are normally distributed in two equal payments unless you’re going to summer school or have indicated a particular date on your application that funds are needed by.
Your first payment will be released late July and the second will be released in December.