Paula Bork Memorial Education Fund

Loan Details

This fund was established in memory of Paula Bork, who was born on July 20, 1929 and passed away on September 10, 1946. In 1947 the Bork family and friends established this fund so that young people could further their education with the assistance of resources made available through the fund. In Paula’s memory, young people have been able to continue their education and lead productive lives within their communities. This fund is available to members of the Jewish community who choose to pursue their education.

The purpose of the fund is to accommodate traditional as well as non-traditional students. Applicants must currently have and maintain a 3.0 grade point average to qualify for a loan. The terms of the loans as of August 1, 2004 are as follows:

• A maximum request of $2,500 per semester, not to exceed $5,000 per school year and a maximum of $10,000 per student
• An interest rate of 0% while the student is enrolled in school (an accredited institution of higher learning
• At the time the loan is issued, the interest rate will be determined based on the national prime rate at that time
• Repayment of the loan is expected to commence six months after graduation and must be paid in full within 60 months (5 years)

Please contact the Jewish Federation of Peoria for more information at (309) 689-0063.