The College Education Loan (CEL) program assists students during their undergraduate studies in USA – Bachelor or Associate degree through an interest-free loan. Upon repayment of the loan, the same opportunities will be available to future students from the Jain community. Each selected student for a Undergraduate degree will receive a total loan amount ranging from $5,000 to $10,000 based on the enrollment year in college (during 1st to 4th) and when an application is received. The Loan will be distributed as follows - $5,000 in the first year, $3,000 in the second year and $2,000 in the third year upon the loan approval - provided that the student is enrolled in an academic institute in the USA during these years and an application for loan renewal is submitted.
Each selected student for an Associate degree will receive a total loan amount ranging from $3,000 to $5,000 based on the current enrollment status in college when an application was submitted. The loan will be distributed as follows- $3,000 in the first year and $2,000 in the second year upon the loan approval - provided that the student is enrolled in an academic institute in the US during these years and an application for loan renewal are submitted.
Repayment of the loan shall begin six months after graduation. Sponsors of this program appreciate the commitment of the Jain community toward education and hope that each loan recipient continues to support the program. The student must submit his application ‘ONLINE’ including submission of all required documents and references on or before the application deadline. Incomplete application will not be considered for the award scrutiny. The applicant must insure that his application is complete. Applicant or approved awardees are requested to stay in touch with the LSGI Committee Chair.
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