Loan Program
Students at the university level can be awarded a maximum of $2,000 per year. Funds are divided equally between our scholarship and loan program and are dispersed in two equal semester awards. Graduate students may also apply for the loan program and may borrow up to $2,000 per academic year. A student may borrow a maximum of $8,000 from the Dougherty Foundation througout the course of their entire educational endeavors.
Students who have already obtained a bachelor degree are only eligible for loan funds if persuing a degree at the graduate level or higher. Dougherty applications are available at participating schools.
Students must show:
- Financial need, as determined by Federal guidleines (FAFSA)
- Cumulative G.P.A. of 3.0 or better
- U.S. Citizenship (resident aliens are not eligible)
- Arizona resident
- Full time student status
- Students must be seeking a bachelor degree or higher.
All applications must be submitted to the financial aid office of the attending school. The Dougherty Foundation does not accept appplications directly from students.
Loans may be renewed if students continue to show financial need and maintain academic achievement. A progress review will be done each semester to verify completion of credit hours and cumulative G.P.A.
Repayment of Dougherty loans begins nine months after the student is no longer enrolled full-time. Interest of 5% is charged for each of the first five years of repayment, then increases to 8% per year for the remainder of the repayment period.