Chapter Recommendation Interview Worksheet This worksheet is a template for filling out the online Chapter Recommendation Form and Letter. It is important that this worksheet be printed and used during the interview with a prospective applicant to secure the information required for successful completion of the online Chapter Recommendation Form and Letter. All information is required unless otherwise indicated. Recommending Chapter: Date of Interview: / / (Chapter Letters, S/P/D) Chapter Vote Date: / / Meeting: Regular Special Is this the first applicant your chapter has sponsored? Yes No The maximum loan amount is $12,000 for all programs of study except doctoral degrees. The maximum loan for doctoral degrees (Ph.D., medical, law, etc.) is $20,000. Amount of Loan Requested: Application Type: Original Additional 2 nd 3 rd Original Loan: An original loan is the first ELF loan that an ELF recipient receives. Additional Loan: Before an original loan has been repaid, a student who has not borrowed the maximum may apply for an additional loan, provided she has not graduated from the program for which her original loan was approved. Other Loans: When an original loan has been entirely repaid according to the agreement, a student is eligible for another loan. She must be recommended again by the chapter. Second, third, etc., loans are handled as original loans. The Chapter Recommendation Form must be used for all ELF loans except additional loans. The Chapter Recommendation for Additional Loan Form must only be used for additional loans. If a chapter has any questions regarding which form to complete, please contact the ELF project supervisor at 515-255-3153 or elf@peodsm.org before proceeding with the online form. ELF Chapter Contact The ELF chapter contact is the chapter member who has agreed to act as primary contact for this applicant. The ELF chapter contact is required to have an email address because status updates from the ELF online program and correspondence with the P.E.O. Executive Office are conducted via email. Daytime Email Local Chapter ELF Recommendation Worksheet Page 1 of 5 04/14
Chapter President Information Daytime Email Address*: *If the chapter president does not have email, enter the email address of another chapter member who is willing to receive email regarding this applicant if the ELF chapter contact cannot be reached. Applicant Information Permanent Country: Preferred Mailing Same as above Country: Cell Important: The email containing instructions and link will be sent to the student s email address as entered on the online form. If the student s email address is entered incorrectly or if the student changes her email address, she will not receive the information she needs to continue with the online application process. Email Date of Birth: / / Citizenship: USA Canada Legal Permanent Resident Is applicant a member of the P.E.O. Sisterhood? Yes No Does applicant have relatives who are members? Yes No If Yes, please list: Name Chapter State Local Chapter ELF Recommendation Worksheet Page 2 of 5 04/14
School/College Information An applicant must be enrolled or planning to enroll, full-time or part-time in an accredited school. School Name: Is school accredited? Yes No School Location: City State/Province Zip/Postal Code Country Date of Entrance: Program Completion/Graduation Date: Student Classification Undergrad: First year of 2 Second year of 2 Junior Senior 5 th year Senior Graduate: Master s Doctoral Other: Student will be attending: Full-time Part-time Grade Point: Does Not Apply Degree Sought: Major: Intended Vocation: Are additional degrees planned? Yes No Undecided If Yes, please list anticipated dates: From: To: List other schools attended beyond high school: Does Not Apply Dates Attended Date Degree Rec d City & From To Or To Be Received Name of Institution State/Province (MM/YY) (MM/YY) Degree Major (MM/YY) Cosigner Information Two financially responsible adult cosigners who are citizens or legal permanent residents of the United States or Canada and reside in the United States or Canada are required for each loan. Spouses, fiancés or partners (current, former or future) may not cosign an ELF loan. Be sure the applicant understands the obligation cosigners are assuming: Each cosigner must consent to P.E.O. International obtaining his/her credit report and must meet the minimum credit score (650) required by P.E.O. policy. Cosigners agree to pay the debt should the borrower fail to do so. 1) Relationship: Occupation: Employer: Local Chapter ELF Recommendation Worksheet Page 3 of 5 04/14
2) Relationship: Occupation: Employer: Financial Information Concerning Indebtedness Limits The following indebtedness limits are used by the trustees for the processing of loans for approval and must include: educational loans, personal loans, car loans, credit cards and equity loans. Do not include home mortgage loans. $ 25,000 for technical commercial, special courses $ 75,000 for undergraduate degrees (including associate s programs) $100,000 for master s degrees $175,000 for doctoral degrees (e.g., medicine, dental, law, veterinary science, Ph.D. programs, etc.) Show total amount of applicant s current educational debt: $ Show total amount of applicant s personal debt, excluding home mortgage loan: $ (If the applicant is married, personal debt includes all household debt) If an applicant has ever been involved in bankruptcy proceedings, she will be considered for an ELF loan if a minimum of three years has elapsed since the date she was granted a discharge from bankruptcy. Is applicant currently involved in bankruptcy? Yes No If yes, this applicant is not eligible to apply at this time. Has the applicant ever been involved in bankruptcy? Yes No If yes, what is the date she was discharged from bankruptcy? / / Information Needed for the Chapter Recommendation Letter Note: The Chapter Recommendation Letter must be submitted at the time the Chapter Recommendation Form is completed online. It may be submitted by: Copying and pasting from a prepared Word document into the form Typing the letter directly into the form This letter may be written by any chapter member other than a relative of the applicant. The letter should include, but is not limited to, the following: applicant s knowledge source of the ELF loan; length of time you have known the applicant and in what capacity; your assessment of her intellectual ability, motivation, seriousness of purpose, chance of success, integrity, reliability and relationship with others; extracurricular activities, work experience, etc.; information regarding family situations; need for financial assistance; reliability of cosigners and future contact of chapter with applicant. Local Chapter ELF Recommendation Worksheet Page 4 of 5 04/14
ELF Interview Conclusion Checklist Review each of the following points of information regarding the recommendation, application and approval process with the applicant: Be sure the applicant understands that the P.E.O. Executive Office must confirm her eligibility before she will be allowed to apply. Once confirmed, she will receive an email with the instructions and link she needs to complete the application process online. The applicant is being recommended for a specific amount. This does not mean she will be approved for this amount. The decision on whether she receives the loan and the amount is subject to the review and the decision of the trustees. The application form will ask for financial information in order to assess her ability to repay the loan. She will be required to submit a budget and address her need for the loan. Parent s income is not a consideration. P.E.O International will require the applicant s consent to obtain her credit report. She must have a credit score of 625 for her application to be considered. Two financially responsible adult cosigners who are citizens or legal permanent residents of the United States or Canada and reside in the United States or Canada are required for each loan. Spouses, fiancés or partners (current, former or future) may not cosign an ELF loan. An individual will be allowed to cosign a maximum of two active ELF loans providing the first loan is in good standing. Each cosigner must consent to P.E.O. International obtaining his/her credit report and must meet the minimum credit score (650) required by P.E.O. policy. Cosigners agree to pay the debt should the borrower fail to do so. Review this important information regarding an approved loan with the applicant: One grading period must be completed before a loan installment may be drawn by a first-year student in a twoyear undergraduate program. As verification of satisfactory academic standing, a transcript of grades is submitted to the P.E.O. Executive Office along with the application and, if requested, before each loan installment is drawn. The P.E.O. Executive Office will provide a separate six-year promissory note for each loan installment. The borrower and her cosigners must sign each note and return it to the P.E.O. Executive Office prior to the issuance of funds. Checks for each installment will be sent directly to the student upon receipt of the signed notes. The applicant must begin to make principal payments the earliest of (i) three months after the graduation date originally stated on the application, (ii) withdrawal from school, or (iii) two years from issue of the promissory note. A monthly payment is required to keep the loan in good standing. Until the first interest billing, the entire amount will be applied to the principal of the loan. Interest begins accruing as of the graduation date originally stated on the application. Interest will be billed annually and a statement sent to the applicant stating the interest amount due. Any payment made after the interest has been billed will be applied to the interest due first with the remainder applied to the principal of the loan. Repayment of this loan is not deferred if the applicant continues her studies. Review the next steps in the process: The recommendation will be presented and voted on at the next chapter meeting. The local chapter will submit the online chapter recommendation and letter to the P.E.O. Executive Office. The applicant can expect the email from the P.E.O. Executive Office 10 to 14 business days after the local chapter has submitted the online chapter recommendation form and letter. Make sure the applicant understands it is her responsibility for checking her email inbox and junk/spam folder for an email from the domain @peodsm.org. If eligibility is confirmed the email will contain the instructions and link for completing the online application process. The deadline date for submission will be included in the email she receives. Local Chapter ELF Recommendation Worksheet Page 5 of 5 04/14