The Triangle Education Foundation, through the generosity of Alumni brothers and others, is able to make a limited number of loans each year to deserving Active members of Triangle Fraternity to help them complete their education. Currently, $12,000 is available per year; the year begins on July 1. Applications which cannot be funded in a given year will be considered in the next
Procedure, size and repayment of loans
Applicants must submit a completed application via the online form (link below) including a current transcript from their college or university; and two letters of recommendation. Applications are only accepted via the online system and will be forwarded to the Foundation's Loan & Scholarship Committee for review and approval or disapproval. Upon approval, the borrower will be notified by letter, which will also forward for execution a promissory note payable to the Triangle Education Foundation. Upon return of the executed note to the National Office, a check will be issued. An applicant may borrow up to $3000. The maximum number of loans per student is one. No interest is charged, but borrowers are invited to make a contribution of any amount they may choose with or following their last payment to help perpetuate and enlarge the Foundation loan program. Repayment is made in up to 12 monthly installments. Payments on all loans shall commence on the first day of the third month following graduation or leaving school. There is a penalty for late payments.
Loan applicants shall: a.) be Active members of Triangle Fraternity who are enrolled in a course of study leading to a degree; b.) shall have completed at least two full academic years of school; c.) shall be within two academic years of graduation, and; d.) shall have maintained, as of time of application, the minimum scholastic average required for graduation in their chosen majors.
Loans are available to students who are able to show that the requested financial assistance is necessary for continued attendance at the college or university. An applicant should be able to demonstrate that within the restrictions of his present course of study he is now making a personal effort to earn part of the cost of his education or has exhausted other means of assistance
Foundation funds available to Triangle members are the result of the donations of many groups and individuals, and represent their willingness to help fellow Triangles. Only prompt repayment of loans will enable the Foundation to continue and expand assistance of this kind. A borrower should understand that unless he repays his loan on schedule, he will deprive some deserving Triangle brother of the same financial assistance he has been granted.
He should further understand that the loan is a legal obligation, and failure to completely repay his loan and all applicable penalties will sadly cause the Foundation to use all legal measures to collect. The Foundation may also arrange for the expulsion of the defaulting borrower from membership in Triangle. That will not, however, constitute satisfaction of the debt.
If, through some unavoidable circumstance, repayment according to the terms of the note is impossible, extension will be considered upon request to the Foundation made by the borrower in writing to the National Office.
Click HERE to apply via the Foundation's online form.
Inquiries about loans in process but not yet granted, general correspondence, inquiries concerning repayment of principal amounts and extension of maturity dates, and contributions should be sent to:
Scott E. Bova, CFRE
Triangle Education Foundation
120 S. Center St.
Plainfield, IN 46168-1214