LTN Staff Reports
The Lincoln County Rotary Student Loan Fund recently announced that it is now accepting applications for the Paul Herringshaw Memorial Loan.
One student each from Cabarrus, Gaston, Iredell, Lincoln, Rowan, Stanly and Union counties will receive a loan in the amount of $2,000.
Provided a recipient is a full-time student at an institution of higher learning for up to four years, the loan will be free of interest for that time period.
After a student leaves school or after the initial four years, whichever comes first, interest will then be 3 percent for the life of the loan.
“Funds for this loan were donated by the Centralina Development Corporation to establish this fund in memory of their founder, Paul K. Herringshaw, who passed away in May of 2012,” noted a press release regarding the loan. “Mr. Herringshaw was an outstanding man with great vision, and the Centralina Development Board felt this would be a fitting way to recognize him by creating this lasting legacy.”
“It is our hope that through this first memorial loan opportunity, others in our area may want to follow in the Centralina Development Corporation’s footsteps and designate contributions in honor or memory of their loved ones to create a lasting legacy,” Rotary officials said.
A $70,000 grant donated by the Centralina Development Corporation has allowed the Rotary, which typically funds low-interest loans for students from Lincoln County headed to college or trade school, to expand its scope, they added.
Interested applicants for the 2013-2014 academic year may access the application online at: rotarylinc.org.
For more information, call (704) 732-0867.