The trustees of the Dora Mahanay Educational Trust reminds all graduating high school seniors and their parents that thousands of dollars are available to be loaned to local graduating seniors. These loans are substantial, up to $4,000 per year, with $16,000 total. And the interest rate is only 3 percent, with interest and payments starting after graduation.
The Dora Mahanay Educational Trust has been lending money since 1964, thanks to a generous bequest from Dora Mahanay in her will. The loan has benefited thousands of students, with many commenting, “The Mahanay loan not only helped me pay tuition and rent, but it also helped buy books, supplies, and many things I needed for school”.
Mahanay funds can usually be disbursed before the start of a semester and generally before federal student loan funds are available, providing students extra flexibility in their planning.
The loans are offered to local fulltime students with a cumulative grade point of 2.0 or higher. Students can attend any type of institution of higher learning, including trade schools. Loans must be approved by the trustees. Students can get more information and a loan application at www.mahanaytrust.com.
