Nevada County Picayune and Gurdon Times Newspaper Archive

Applications Sought From Students

The Arkansas Rural Endowment Fund (AREF) is now accepting student loan applications for 1998-99.

"To be eligible, students should file a 'Free Application for Federal Student Aid Form' (given to them by their high school counselor) and inform their college financial aid office they wish to choose the AREF as their lender.

An AREF application may be obtained by contacting Jerry Clemons, County Extension Agent staff chairman, who serves as chairman of the Clark County committee," Vernon L. Eagan general manager of AREF, said.

He stated that anyone interested may call AREF at 1-800-232-5505 for more information or to have an application mailed.

Eagan noted that AREF is a leader in the Federal Family Education Loan program. Loans are serviced by the fund throughout the life of the loan, which can make it more convenient for the borrower to secure a deferment in order to continue education on the graduate level.

Loans are made in varying amounts determined by federal guidelines and the cost of attending a particular school.

"Student loans are our only business and we are eager to serve the rural or small town people of our state," he said.

"We know there are other lenders to choose from and that is why AREF works hard to offer the very best in servicing, just as we have done with the other 95 Clark County residents who have been assisted by AREF in the past.

"For those who may be interested to know about loan costs, the variable interest rate for federal Stafford loans, currently at 6.86 %, is capped at 8.25% by the U.S. Department of Education, which pays the interest for the in school and grace periods for qualified borrowers."