BINDING RULES FOR AN INTEREST FREE ACADEMIC LOAN:

$5,000.00 Maximum per Year. Deadline – June 15th for Initial Year Application. (Renewals are awarded automatically upon receiving Renewal Application and proof of 2.25 cumulative GPA and full-time registration, generally 12 credit hours.)

$1,000.00 for Summer School for Existing Students.  – See Renewal Application.

1. Must have been a resident of Sheridan, Campbell or Johnson County, Wyoming; Powder River, Rosebud or Big Horn County, Montana for at least one year prior to the date the application is filed.

2.  For academic loans, the applicant must be under the age of 25 at the time the application is filed at the office of the Bryan Foundation.  Under special circumstances, the Board of Directors may make an exception.

For vocational loans, there is no age limit except that, if the applicant is over 30 years of age at the time the application is filed at the office of the Foundation, approval will require an affirmative vote of four directors.

3.  Must submit the formal application provided by the Bryan Foundation.

4.  Must submit full high school transcript or most recent college transcript (college transcripts for applicants who attended college full-time previous to application).

5.  Must have GPA of 2.50 cumulative in high school and 2.25 cumulative in college. The GPA of 2.25 must be maintained in college while enrolled with full-time status at the attending college.  Generally, this is 12 credit hours.

6.  A need for assistance, applicant and parents or guardian, must have completed and signed the application form and submitted a copy of their most recent Federal Tax Return Form 1040 (page 1 and 2).  As a general guideline, the Board allows $35,000 of Adjusted Gross Income (AGI) per member in the household.

7.  Both parents must co-sign your notes unless applicant is living with one parent, then that parent must sign.  If applicant is married, spouse must also sign the notes, and also have a Co-Signer.

8.  Must arrange with the college office to have a copy of your grades sent to the office of the Dodd and Dorothy L. Bryan Foundation at the end of each reporting period until graduation even though you may not borrow for every semester or quarter.  The address is P O Box 6287, Sheridan, WY 82801.

9.  Must keep the Foundation informed of your current address at all times and also that of your parents if there is a change.

10.  Repayment is based on a monthly schedule, beginning six months after leaving school or graduation.  The amount of the monthly payment is a minimum of $100.00 on the first $5,000.00 borrowed and $15.00 per thousand after that.  The repayment formula is based on your total amount owing when leaving school or graduation.  Full repayment should be made as soon as possible so that others in need may use the money.

11.  Deadline for applications is June 15th.  Applications are voted on at our June meeting this is the last Monday of the month.  Applications are accepted after this date, but are dependent upon funding availability.

12.  The loan shall be an honor loan without interest, except if it goes into default.

13.  Money borrowed from the Dodd and Dorothy L. Bryan Foundation for a particular purpose shall become due in full at once if used for any other purpose.