Student College Funding Application

All candidates must meet the following criteria: 

• Currently attending as a undergraduate/graduate/post-graduate at an; accredited university, trainees in boot-camp, professional, trade certificate programs
• For refinance loans; you must have graduated from an accredited university, boot-camp, a trade certificate program and are currently employed in the area of your field of study
• U.S. Citizen or Permanent Resident
• 18yrs+ old at time of agreement execution
• Maintain current and anticipated financial obligations at a reasonable threshold
• GPA of 3.0 or higher
• Meeting satisfactory academic progress towards degree
• Must have a declared major

Once the student has met the basic requirements, all applicants will be assessed based on 3 key criteria listed below. A point system will be used to determine loan recipients. Each category has its own weight.

1. Scholastic Merit:  The Student is graded based on his/her academic achievements, GPA, test scores, class standing, and awards.  The better a student performs academically, the higher points student will be assigned.
2. Need: The needs are assessed by analyzing the financial portfolio of the student, student’s spouse as well as student’s parent(s). Existing or past scholarships will be taken into consideration along with FAFSA for review. The greater the need for funding, the higher points student will be assigned.
3. Community Service: You will be assessed in the two areas; (i) past and present volunteering work and community services you have done within the community you live and serve (ii) how will you impact your community at large after you receive your higher education from the funds we provide.  

The above requirements must be satisfied in order to be considered for interest-free funding. 

Our review committee will score all the applicants and shortlist candidates for funding by using the criteria above. The final item will be either a phone or an in-person interview with the candidates. 

Once the process closes, candidates who qualified will be informed about the loan amount, the repayment period as well as all the details on their funding. 

At 313 Funding, we only ask that every applicant comes hungry and wanting to succeed!

The amount and number of funding provided to students will be completely based on the available funds we have in our portfolio. Given the nature of our offer for interest-free as well as no-profit funding, we will take all precautions to ensure that the student will be able to repay the loans in a timely manner. 

In cases where a student is unable to make the minimum monthly payments either due to a sudden loss of work or some other financial hardship, we will work with the student to devise a new workable plan.

If the student is capable of making the payments but refuses to repay the loan, we will take the following actions to ensure repayment of the loan:

• One-on-one discussion with the student to understand why the payments are not being made and to find a solution. 
• If still no repayments, then reporting to credit rating agencies.