119. UNION CARBIDE EDUCATIONAL FUND, 270 Park Avenue, New York, N.Y. The educational fund provides scholarships for the study of engineering at 35 institutions of higher education. At taxsupported universities the scholarships provide $500 annually for tuition, books, and fees; at private institutions they provide tuition and allotment for fees and $100 a year for books. 120. UNITED AIRCRAFT CORP., East Hartford, Conn. The corporation offers scholarships to the children of eligible employees for the study of engineering or related science. 121. UNITED SCHOLARSHIP SERVICE, INC., room 20, 1452 Pennsylvania Street, Denver, Colo. The service which is composed of the Association of American Indian Affairs, the Board of Home Missions of the Congregational Christian Churches, and the National Council of the Protestant Episcopal Church offers approximately 100 scholarships to students of American Indian or Spanish American ancestry. 122. UNITED STUDENT AID FUNDS, INC., 845 Third Avenue, New York, N.Y. United Student Aid Funds is a private, nonprofit corporation which endorses low-cost loans made by participating banks to needy college students in over 600 participating colleges in 48 States. An agreement with commercial banks, allows the United Student Aid Funds reserve fund to guarantee the loans the banks make to the students. The reserve fund is made up of money from United Student Aid Funds and from deposits by participating colleges whose students use this program. Loans are available to students after completing their freshman year (a program in a small number of colleges allow loans to such students) in amounts up to $1,000 a year with a total of $4,000 with a simple interest rate of 6 percent. 123. WACHOVIA COLLEGE ASSURED PLAN, Box 3099, Winston-Salem, N.C. A commercial loan program in which parents or other sponsors of a student may get a loan to finance the student's education is offered by Wachovia Bank. 124. WARWICK (MAUD E.) FUNd for War ORPHANS, 54 Morningside Drive, New York, N.Y. The fund provides scholarships for orphans of World War II. Recipients can be students who are not eligible for aid under the War Orphans Educational Assistance Act and students whose financial requirements are greater than the amount the Federal Government provides under the act. 125. WESTERN ELECTRIC CO., INC., 195 Broadway, New York, N.Y. The company provides funds for more than 150 scholarships ranging from $400 to $1,000 in value and applicable at over 125 participating institutions of higher education. 126. WESTERN GOLF ASSOCIATION, Golf, Ill. The association has established the Evans Scholar Foundation which provides tuition and room rent costs at certain institutions of higher education and State universities to students who have caddied successfully and regularly for a minimum of 2 years at a member club or clubs of the associa 127. WESTERN UNION TELEGRAPH Co., 60 Hudson Street, New York, N.Y. The company sponsors a scholarship program for eligible employees, or a child, stepchild, or legally adopted child of such an employee, active or retired. 128. WESTINGHOUSE ELECTRIC CORP., East Pittsburgh, Pa. The corporation sponsors the following scholarship oppro tunities: (1) Westinghouse War Memorial Scholarships provide $1,200 per year to children of employees of to eligible junior employees who are interested in studying engineering, mathematics and the physical sciences. (2) George Westinghouse Scholarships provide annually 10 awards of full tuition for 4 years to study engineering, industrial management, chemistry, physics, or mathematics at Carnegie Institute of Technology. (3) In cooperation with the Science Clubs of America (1719 N Street, Washington, D.C.) a "Science Talent Search" in which winners receive scholarships valued up to $7,500. 38-460-6412 CHAPTER III. FEDERAL STUDENT FINANCIAL AID PROGRAMS While the Federal Government has no general program of scholarships for undergraduate college students, it does provide some assistance for education beyond the high school through a variety of programs. THE NATIONAL DEFENSE STUDENT LOAN PROGRAM The National Defense Education Act of 1958 established a program of long-term low-interest student loans, administered by the participating institutions of higher education. A student should address his inquiry concerning the program and his request for an application blank to the participating institution in which he is interested. The Government provides 90 percent and the institution 10 percent of the funds for these loans. The Government has established the following terms: 1. Eligibility must be based upon the need of a student for funds to pursue a course of study in a participating institution in which he has been admitted. 2. The amount of the loan cannot exceed $1,000 for any one academic year, or $5,000 in total aid for undergraduate study. 3. Repayment of the loan, with 3-percent interest which begins to accrue at the time of repayment, must begin 1 year after the borrower ceases to be a fulltime student, and must be completed 10 years later. Repayment may be temporarily delayed in cases where a student returns to full-time study, enters the Armed Forces, or joins the Peace Corps. Periodic installments need not be paid during any period not in excess of three years during which the borrower is a part-time student taking courses toward a degree. While interest will continue to accrue during periods of part-time study, such periods are not included in determining the 10-year period in which the loan must be repaid. 4. If a borrower becomes a full-time teacher in a public or private elementary or secondary school or institution of higher education, a maximum of 50 percent of the loan (plus interest) may be cancelled at the rate of 10 percent of the amount owed upon entering teaching for each year of teaching. PARTICIPATING INSTITUTIONS OF HIGHER EDUCATION, 1964-65 ALABAMA Alabama A. & M. College, Normal Alabama College, Montevallo Birmingham Southern College Birming- Daniel Payne College, Birmingham Livingston State College, Livingston ALABAMA-Continued Miles College, Birmingham Southern Union College, Wadley Tuskegee Institute, Tuskegee Institute PARTICIPATING INSTITUTIONS OF HIGHER EDUCATION, 1964-65-Con. CALIFORNIA-Continued ALASKA Alaska Methodist University, Anchor- California State Colleges at age Hayward Long Beach Los Angeles California State Polytechnic College, San Luis Obispo California Western University, San Chaffey College, Alta Loma City College of San Francisco, San Claremont Graduate School and Uni- College of the Holy Names, Oakland El Camino College, El Camino Foothill College, Los Altos Hills Golden Gate College, San Francisco Immaculate Heart College, Los Angeles Imperial Valley College, Imperial Los Angeles College of Optometry, Los Los Angeles Pacific College, Los Angeles Loyola University of Los Angeles, |