ARE AVAILABLE TO:
accredited Sheridan / Johnson County High School.
obtained a GED from a Sheridan / Johnson County High School or Sheridan
that have had at least seven years of continuous residency in Sheridan
or Johnson County immediately prior to applying for a loan.
up to age 24 years old:
who are age 25 years and older:
have a 2.5 cumulative grade point average from high school, or
2.25 cumulative grade point average from college.
Requirements Do Exist.
have a 2.0 cumulative grade point average from high school, or
2.25 cumulative grade point average from college.
in its sole and absolute discretion, has the authority to determine
whether a student meets qualifications for loan approval.
related to Whitney Benefits Board members.
have loans with the Dodd and Dorothy L. Bryan Foundation, B.F. and Rose
H. Perkins Foundation, or any other private foundation.
- Be currently receiving a Daniels Fund Grant.
for a Student Loan Online
When completing the
student loan application online, you will need to gather and submit the
The application deadline for Fall 2016 funding for new loans is September 1, 2016.
review the Whitney Benefits Student Loan Terms and
Conditions, available as a PDF.
transcripts of all High Schools and Colleges attended.
recent IRS Form 1040 filed by Applicant and both
Co-Borrowers (Please submit only the first two pages of the 1040 or
and please make sure that the copies are signed.) View
an example of the required 1040.
of enrollment (acceptance letter or schedule).
of the Cost of Attendance from the school you will be attending, if you
are attending vocational or graduate school.
of amount borrowed from the Homer and Mildred Scott Foundation Student
Loan Fund, if applicable.
attach a recent photograph.
your application and all required documents are submitted, Whitney
staff will review them and will mail you a letter verifying that your
loan has been approved. Once you receive this letter, please
call Whitney Benefits and schedule a Loan Closing. If you submit
your application and required documents and Whitney Staff finds an
error we will contact you at the number and/or email you provide on the
application form Students
and their co-borrowers must attend the Loan Closing. At the Loan
Closing, Whitney staff will review the loan documents before the
student and their co-borrowers sign. All documents will be notarized.
The loan closing takes approximately 20 minutes. Whitney
will issue the first disbursement to the student at the loan
closing. All disbursements issued by Whitney shall be payable
only to the student. To receive all future disbursements, the
student must first provide Whitney with an official transcript or grade
report verifying that the student has earned at least 12 credit hours
and maintained a 2.25 grade point average in the preceding term.
When are the funding deadlines for students with current loans?The deadline for Fall funding is October 1st and for Spring funding is March 1st.
Asked Questions about Whitney Loans
much can students borrow in total and per semester for undergraduate or
studies? What information do you use to see how much each
will qualify for?
undergraduate or vocational school studies. Traditional
may borrow, each semester during their undergraduate education, the
much can students borrow for graduate or professional studies?
students can borrow a credit limit of $40,000.
(1/2) of the annual limit established by the Whitney Trustees.
For schools on quarter systems, the annual limit shall be
one-third (1/3) instead of 1/2. The annual limit is $6,000.
students may borrow up to $24,000 over the length of their program.
These students will not be held to the annual limit.
qualify, students and the student's parents must have an adjusted gross
income from the previous year of under $200,000.
What is the
lifetime limit amount of student loans a student can borrow from
Students can borrow a
lifetime limit of $24,000 to attend undergraduate
and/or vocational school and a lifetime limit of $40,000 if they attend
I be expected to start repayment on my loan?
begin on the earliest of the following dates:
How much interest will I pay on
my loan?Whitney Benefits Student Loans
are interest free. (However, interest may be charged if the loan is in
How much money does an
interest-free student loan save me?Please refer to the calculations at this link.
months after the anticipated or actual graduation date.
if the student leaves school.
often will I receive the Present value discount option?
Value Discounts are available at the start of repayment and every anniversary date
Benefits send and receive electronic payments?
Benefits does now
have the ability to electronically disburse funds and receive
electronic payments. Please download the Electronic
Credit Authorization form to receive
electronic disbursements or the Electronic
Debit Authorization to make electronic payments.
Please fill out and return the form to Whitney to take
advantage of these conveniences.
Why does Whitney Benefits provide student loans?
Benefits, Inc. was created under the Last Will and Testament of Mr.
Edward A. Whitney, a Sheridan County resident, who passed away in 1917.
Mr. Whitney directed the corporation to create a student loan
program that would help provide men and women with modest financial
assistance from the corporation's income to pursue academic and
inception of the program in 1928, through June 30, 2015, the
corporation has loaned 5,597 students approximately $38,336,754. For
the fiscal year that ended June 30, 2015, Whitney approved interest
free loans totaling $1,831,016.82 to 99 students; 77 students received
loans for the first time and 21 students had received loans previously.
As of June 30, 2015, Whitney has $13,428,196 in student loan monies
loaned and/or committed to Sheridan and Johnson County students.