Pickett & Hatcher Educational Loan

Applicant must be a U.S. citizen, attending a four-year college, and have a credit-worthy endorser. Minimum composite ACT score of 20 (combined SAT Reasoning score of 950) required.

Renewable if recipient maintains satisfactory academic progress, maintains good financial credit, furnishes an acceptable endorser, and completes an additional application.

Simple interest at a rate of 2% per year while enrolled for the required hours, and at a rate or 6% per year while in repayment or not enrolled for the required hours. Interest is payable quarterly while enrolled for the required hours, and monthly at other times. Monthly payments are required 6 months after leaving college or dropping below the required academic load.

Study areas: Degree must include a core of liberal education courses, but not law, medicine, or ministry.