Ferree Foundation Loans
The Ferree Foundation offers low interest loans to Randolph County, North Carolina, students who are in full time academic programs at any accredited college or institution of higher education. The loans are for undergraduate study only. Loan amounts may vary from year to year, and loan recipients must re-apply each spring for the following academic year. The maximum amount a student may borrow for the 2017-18 academic year is $1000. Students attending a community college may borrow $500 per year.
Who is Eligible
Loan recipients must be graduates of one of the six public high schools in either the Randolph County or Asheboro City School Systems:
Asheboro High School, Eastern Randolph High School, Providence Grove High School, Randleman High School, Southwestern Randolph High School, Trinity High School, Whetmore High School, Randolph Early College High School
Ferree Foundation loans are interest-free while the student is in undergraduate school. Students begin repayment within six months following graduation or when he/she has been out of school for six months. Interest begins at that time and is 1% the first year increasing annually to 6% the sixth year after leaving school.
Applications are available online, through the Guidance Offices at the high schools listed above or by contacting the Foundation. Application deadline is May 1. Foundation Trustees review applications in late May and all loan applicants will be notified in June of acceptance or refusal of their request. Loans are distributed semester by semester.
Asheboro High School
Eastern Randolph High School
Providence Grove High School
Randleman High School
Randolph Early College High School
Southwestern Randolph High School
Trinity High School
Wheatmore High School