Ogden Scholarship and Loan Foundation
by Marla Swanson
October 09, 2004
OGDEN COMMUNITY SCHOLARSHIP AND LOAN FOUNDATION A not-for-profit educational foundation
Box 441
Ogden, Iowa 50212
www.ogden.k12.ia.us
What is it?
A non-profit foundation organized by citizens in the Ogden Community in 19664. This group’s purpose is to promote higher education through loans and scholarships.
Why is it needed?
Because substantial numbers of graduates from Ogden High School who have the ability and the desire to continue their education are unable to do so due to inadequate finances. The existence of this foundation will encourage more of these young people to seriously consider advanced education or specialized training.
What is needed?
- Stocks, Bonds, Mutual Funds
- Life Insurance
- Property
- Wills and Bequests
- Trust Funds
- Money
Gifts may be of any size and are deductible not only for income tax purposes but also for Federal estate and Iowa inheritance tax purposes. Actual tax savings will depend on the size of the gift and other factors. There are certain limitations on tax deductibility and, therefore, we recommend consulting with your attorney regarding any large gift.
What will it do?
Provide loans ranging up to $2,000 per year for further education after graduation from high school. (This limit may be increased as the Foundation grows.)
Who is eligible?
Any graduate of Ogden High School. A high school senior may apply for a loan and receive tentative approval. However, the actual loan will not be dispersed until all of the requirements for high school graduation have been met.
How will loans be granted?
All applications will be reviewed by the board of directors of the Foundation. The approval of a loan requires a majority of the director voting in favor of the application.
Who supports the Foundation?
Our Foundation is supported by Alumni and friends of the Ogden community who are interested in advancing educational opportunities for our young people.
How can you help?
All gifts are welcome and may be of any size, from a few dollars to large estates. The Foundation provides a general fund that is invested, and the interest will be used for scholarships and loans.
In cooperation with:
Ogden Community Schools
Superintendent Bill Roederer
Principal Jerry Wilson
732 West Division Street
Ogden, IA. 50212
Other Points:
- No administrative salaries
- All educational loans shall be repaid after graduation from college or upon completion of specialized training. Therefore, all funds will be available for future students.
- Recognized trade and vocational schools are included, as well as other specialized schools which provide recognized or accredited training.
- Interest rates on loans will be low....only enough to cover the actual cost of operation of the loan program.
- Special loans or scholarships may be established by commercial firms or organizations for administration by the Foundation. Loan funds so designated will be awarded in the name of the sponsor.
- Memorial loans may also be established in the name of a person or family.
- Further details on either of these programs may be obtained from the Foundation
Ogden Scholarship and Loan Foundation
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| Date | Subject | Posted by: |
|---|---|---|
| 08/13/2007 | I think what you guys are doing is... | Athena Hanson |
