Chosen Valley Student Loan Fund, Inc.
P.O. Box 434, Chatfield, Minnesota 55923
The Chosen Valley Student Loan Fund provides loans for educational expenses to graduates of the
Chatfield School District enrolled in post-secondary education.
Loan decisions are based on the student’s need, talent, ability, initiative and potential for
achievement.
A Board of community volunteers administers the Chosen Valley Student Loan Fund. The Board
reviews loan applications, determines eligibility for loans, awards loans, administers loans and
directs collection of loans.
Maximum Loan Amount is $2,000 per school year for up to 4 years, to be used only for
educational expenses. Loan applications are reviewed/approved on a quarterly schedule as
follows: August 1, November 1, February 1 and May 1.
Payment of Loans:
Interest is 3.0% annually and begins accruing on all outstanding loans at graduation or when the
student ends post secondary education.
Loans made during the student’s first year of post-secondary education are due in full one year after
the student graduates. Loans made for the second year of education are due 2 years after
graduation. Additional loans are due in subsequent years in the same manner.
If the student ends post-secondary education before graduation, all loans are due immediately. The
Board reserves the right to determine when a student has either ended of abandoned postsecondary education.
The loan shall be evidenced by a promissory note signed by the student and a co-signer. A
promissory note is a firm promise to pay on the due date. If the borrower fails to meet this obligation,
the co-signer is required by law to pay the full loan amount.
The Chosen Valley Student Loan Fund may request a credit bureau report for the student and cosigner. If the loan is not paid according to the terms of the note, the Chosen Valley Student Loan
Fund may report this information to the credit bureau.
Contact Root River State Bank, Chatfield High School Counseling Office or CVSLF:
Student shall provide the Chosen Valley Student Loan Fund with current postal address, email
address, and phone number and will update this information as needed by contacting Root River
State Bank, the Chatfield High School counselor or Chosen Valley Student Loan Fund.
Student shall notify Root River State Bank, the Chatfield High School counseling office or Chosen
Valley Student Loan Fund when the student graduates or ends post-secondary education. The
student shall, on the anniversary date of the loan, certify to the Board that the student is enrolled in a
course of post-secondary education and is making satisfactory progress towards successful
completion of said course of education.
The Chosen Valley School Loan Fund, Inc. was founded in 1962 and is a not for profit corporation.
The Chosen Valley Student Loan Fund is a revolving loan fund and 100% of principal and interest
payments repaid to the loan fund are made available to new students.
The Chosen Valley Student Loan Fund welcomes donations.
Loan Application
Chosen Valley Student Loan Fund, Inc.
P.O. Box 434, Chatfield, Minnesota 55923
Please Print or Type
Date ______________________
Student Information
Application # ________________
(Office Use Only)
Name ________________________________
(Last)
(First)
Social Security # _____________
(Middle)
Home Address _________________________
High School
Graduation Year _____________
City, State, ZIP _________________________
Cell Phone ____________________
Home Phone __________________
Address at School ______________________
Email
Address ___________________
City, State, ZIP _________________________
Employer __________________
Major or Vocational Preference _____________________________________________
Post Secondary School _______________________
Address of Student Accounts Office
___________________________________City, State, ZIP_______________________
(Building, Street or P.O. Box )
Year of School that Loan is for ________________
Projected Date of
College Graduation___________
(First, Second, Third, Fourth)
Financial Information
Resources Available for Education Expense
Education Expenses
Student Contribution
$___________
Tuition
$____________
Family Contribution
$___________
Housing
$____________
Grants and Scholarships
$___________
Books
$____________
Other Loans
$___________
Miscellaneous
$____________
Total Available
$___________
Total Expenses $____________
Amount of Loan Requested $ ______________ ($2,000 maximum per school year up to 4 years)
Family Information
Parent’s Name _____________________________
Occupation _______________________
Parent’s Name _____________________________
Occupation _______________________
Parents’ Address ____________________________
City, State, ZIP ___________________
Parents’ Email _______________________________
Phone _________________________
Sisters or Brothers in Post Secondary Education - List Names and Year in School
______________________________________________________________________
References
Provide the names of three character references. No more than one reference should be an
employee of the Chatfield School District.
Name ______________________________________
Phone Number ______________
Name ______________________________________
Phone Number ______________
Name ______________________________________
Phone Number ______________
Additional Information (if you need to – use back to write additional information)
Explain why it is necessary for you to receive a loan at this time.
Explain any special family financial circumstances that should be considered.
What are your talents that will help you to succeed in furthering your education?
Share an experience that demonstrates your initiative and ability to succeed in a challenging
situation.
Student’s Signature _____________________________
Date _________________
Parent’s Signature ______________________________
Date _________________
**REMINDER LOANS ARE REVIEWED/APPROVED August 1, November 1, February 1 and
May 1. Example, if application is turned in on August 25th it will be reviewed on November 1.
Please return this Loan Application to the Chatfield High School Office or mail to
Chosen Valley Student Loan Fund, Inc.
P.O. Box 434, Chatfield, Minnesota 55923