Beneficiaries of the Education Loan Fund must be Salvationist students who desire to enroll in a program of post high school education and reside within geographical boundaries of The Salvation Army Southern Territory as outlined in Minute 4B.

Loans Approved:      Up to $2,250.00 per year

Contact Person:        Salvation Army Corps Officer


  • 1) Salvationist student-soldier in good standing of the Southern Territory. 
  • 2) Under age twenty-nine (29) and with a demonstrated financial need. 
  • 3) Must have a CGPA 2.0 (including high school grades) or above and must maintain a 2.0 or above to continue to borrow money. 
  • 4) Currently enrolled or planning to enroll for the next school year.
  • (a) In studies which are above high school level for which credits are given toward a college degree and for which credits are transferable to an accredited school.
  • (b) In specialized studies offered by a technical, vocational, business or Bible school accredited by a recognized professional agency and authorized by the appropriate state.


 Maximum Amount

A maximum of $9,000 may be borrowed within an eight-year period at the rate of $2,250 per year for full-time students and $1,125 per year for part-time students. 

  • When an accelerated program of education is pursued in which students attend twelve months in an academic year, the maximum loan of $9,000 may be allowed over three years, rather than four. However, not more than $3,000 per year will be authorized. 
  • If the applicant for a full-time program has not borrowed an annual amount, the applicant may borrow the accumulated amount for which he/she is eligible provided he/she has not passed age 29. 
  • Applications for loans can only be made once a year, this being the Fall semester. All loans are made for the entire year and not per semester. All applications received after January of the year will not be processed until the following school year.


  • Applications (5 pages) are available through the Divisional Headquarters and are to be obtained by the prospective borrower from the Corps Commanding Officer. The Corps Officer must request these forms. 
  • Applications must be approved by the Commanding Officer, the Divisional Finance Board, the Divisional Commander or the department head, and by the co-borrow (either a parent, legal guardian or some other financially responsible person). 
  • The note form is to be completed to include the amount of the loan, repayment, social security numbers, and must be signed by both the borrower and co-borrower with signatures notarized at the time of application for a loan. (An education loan note may carry as co-borrower the signature of the applicant's commanding officer only when said officer is a parent or legal guardian of the maker. The co-borrower must be an individual of financial responsibility.) 
  • After approval by the Divisional Finance Board, applications are to be forwarded to the Continuing Education Department, College for Officer Training for processing.


 The plan for repayment in full must be submitted at the time of the application and incorporated in the legal note as follows: 

  • 1) Amount of present loan request 
  • 2) Total amount of loans from The Salvation Army 
  • 3) Number and amount 
  • 4) Payment rate will be based on the amount of total loans whether in several separate loans or one loan, according to the repayment schedule. 
  • 5) Date when first payment is due and when final payment will be due

The repayment schedule must commence not later than ninety (90) days after graduation or at the conclusion of the program of study for which loan has been granted and in accordance with the following schedule:

Loans                Payment             Months        Total

Up to $1500        $50 a month             30        $1500.00
$1500-$3000      $75 a month             40        $3000.00
$3001-$4500      $100 a month           45        $4500.00
$4501-$6000      $125 a month           48        $6000.00
$6001-$9000      $150 a month           60        $9000.00


Borrowing $2250.00 your loan paper should read as follows: 

This Loan $2250.00 Previous Loans $0.00 Total Loan $2250.00 For value received, I, We, or either of us, the undersigned, promised to pay to the order of The Salvation Army, a Georgia Corporation, at Atlanta, Georgia, the sum of $2250.00 dollars, this note is payable in 30 monthly installments of $75.00 dollars each, beginning the first day of September 1, 2010 and continuing monthly on the first day of each month thereafter until the note is paid in full which shall be no later than the first day of March 1, 2013 the maturity date hereof.


When a borrower becomes delinquent in the repayment of a loan, following a ninety (90) day period, a minimum interest rate of 6% per annum will be applied to the balance.  When the payments are again on a regular payment schedule and the account is no longer delinquent, the 6% interest penalty will be lifted.

If a loan is not paid in full by the borrower, the co-signer becomes fully responsible for the outstanding balance, and any interest that has occurred.

In the event schooling is discontinued at any time without plans to resume an education program, the Continuing Education Department must be notified and notes become payable immediately. 


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