P.E.O. member receives educational loan

P.E.O. Chapter DX of DeKalb announced that Riley Bauling of DeKalb is a recipient of the Educational Loan Fund.

Bauling received her undergraduate degree from Iowa State University, and is pursuing her master’s degree in accounting from the University of Illinois in Urbana. She will then be able to sit for the CPA exam.

Bauling is a member of Chapter DX, but anyone applying for the loan does not need to be member of P.E.O.

The ELF was established in 1907, and makes loans available to qualified women who desire higher education and are in need of financial assistance. This is not a scholarship fund.

Applicants must be recommended by a local P.E.O. Sisterhood. The maximum dollar amounts are $12,000 for undergrads, $15,000 for master’s programs and $20,000 for doctorate studies. Each request is based on the program of study and availability of funds. It cannot be used for personal debt reduction. The candidate must maintain the scholastic GPA required for graduation by her school.

There is a six-month grace period following the borrower’s graduation date then equal installments of combined principal and interest (currently at 2%) will commence.