Student Loan Hero is thrilled to announce the recipients of our scholarships for the Spring 2017 semester.
All of these students have demonstrated incredible resilience in their pursuit of education. We’re excited to award a total of $4,000 in scholarship money to help alleviate their educational costs.
After careful review of hundreds of essay submissions, our financial experts selected two finalists and four semi-finalists. Finalists received $1,000 each, while semi-finalists earned runner-up prizes of $500 each.
These students inspire all of us here at Student Loan Hero with their determination and commitment. We hope this scholarship money helps ease the burden of tuition and related costs.
Student Loan Hero will grant more awards for the Fall 2017 semester. And we invite any actively enrolled students to apply. This next round will be open from June 15 to August 15.
Check out the amazing life stories of our Spring 2017 scholarship winners.
Nice Loufoua, Northwest Nazarene University
Top prize: $1,000
Nice Loufoua is a social work major as well as track and field athlete in her sophomore year at Northwest Nazarene University. As a first generation college student, Nice says, “sometimes the pressure to be successful can be extremely overwhelming, but I am very thankful for how far I have gotten on my academic journey.”
Born in Brazzaville, Congo, Nice and her family came to the U.S. nine years ago through the World Relief program. By the age of 10, Nice had lived in three countries and countless cities. When her family finally settled in the U.S., they had no friends or family to help them adjust. And, they couldn’t speak the language.
Over time, Nice says, “Our English improved, we made new friends, became less reserved and afraid, and finally began fitting in.”
With her parents’ support, Nice became the first in her family to attend college. And she strives to provide a permanent home for her family after years of relocating.
“Someday, I will have a college degree, a well-paying job, and financial stability,” says Nice. “[These opportunities] will allow me to pay off my parents’ mortgage, giving them their very first home.”
Miriam Ramos Torres, The University of Texas at El Paso
Top prize: $1,000
Miriam Ramos Torres is a general business major with a concentration in international business. Since she lives with her parents in Juarez, Mexico, Miriam crosses the border everyday to get to the University of Texas at El Paso.
Paying for college, Miriam says, “has been tougher and tougher on my parents each year since the peso has been devalued.” Although she and her two siblings have lived with financial instability their entire lives, Miriam has not let the challenge discourage her.
Instead, Miriam says she “gained the perseverance to overcome financial adversities in order to help my parents and myself out of debt and get ourselves into financial stability.”
With a college degree, she strives to help her parents pay for her brother’s education. Her financial struggles, Miriam says, “have helped me become more patient, persistent, and has taught me to value everything that we receive.”
Tarrin Joslin, Johns Hopkins University School of Education
Runner-up prize: $500
Tarrin Joslin is working toward her master’s degree in education at Johns Hopkins University School of Education. Tarrin has been teaching special education for two years and currently works in a high-needs elementary school outside of New Orleans.
“As a teacher in a Title I school district, I lack many of the resources that my students need in order to be successful,” Tarrin explains. This scholarship will allow her to “provide materials that [her] students so desperately need.”
It will be a step she adds, “toward ensuring that this wonderful group of students from a low-income, inner-city area has a teacher who is highly qualified and a learning environment that is equipped to meet their needs.”
Tarrin works to close the achievement gap in low-performing schools. She also finds time to volunteer at animal shelters and community outreach programs for children with disabilities.
Joseph Augustin, University of Maryland
Runner up prize: $500
Joseph Augustin took on financial responsibility for his family at the young age of 18. As a freshman in college, he worked as a security guard and lived off-campus so he would have money to send home to Haiti.
Given his financial situation, Joseph decided to join the ROTC program.
“It was perhaps one of the best decisions I’ve made in my life,” Joseph reflects. What’s more, he says the Army taught him “leadership skills and motivated me every day to serve my country and family.”
While his college years were difficult, Joseph says they taught him many life lessons. Essentially, he learned how to balance a budget and live within his means. Joseph is now studying for his master’s degree in cybersecurity technology at the University Of Maryland.
Erica Contreras, University of South Florida
Runner-up prize: $500
Erica Contreras is the first of her seven siblings to go to college. She’s a junior at the University of South Florida, where she studies elementary education.
Erica’s family immigrated to the U.S. with “no money, no job, and no place to live.” Growing up, they migrated from state to state following the harvest.
Eventually, Erica began working in the fields herself at only 10 years old. There were some nights, she says, where her family didn’t have enough money for food.
Erica continues to work while going to school. She sends her income home to help her family. And she works hard to “become an educator and motivate students that have dealt with the same upbringing I’ve had to continue their education.”
Despite her hardships, Erica says, “my motivation and dedication are at their highest.”
Alejandro Velez, The University of Texas at El Paso
Runner-up prize: $500
Alejandro Velez double majors in economics and finance and minors in computer science at the University of Texas at El Paso. He plans to go to law school after graduating.
Ultimately, Alejandro says he’s passionate about helping others through community service.
“One of the reasons I help most people is not because I have too much; it is because I know how it feels to have nothing,” Alejandro explains. In fact, he and his family escaped the drug war in Juarez, Mexico and moved to El Paso, Texas.
Then in 2015, Alejandro’s younger brother was diagnosed with leukemia. He has had two critical operations and continues to have weekly chemotherapy treatments. When he’s not helping his brother, Alejandro is volunteering with children diagnosed with cancer in his community.
He is also the Recruiter Coordinator for a community service group called Apanical. The group collects donations and sells them to a company in Mexico. The proceeds help families pay for expensive medical treatment.
Need a student loan?Here are our top student loan lenders of 2021!
|1.04% – 11.98%1||Undergraduate, Graduate, and Parents|
|1.13% – 11.23%*,2||Undergraduate, Graduate, and Parents|
|3.80% – 9.36%3||Undergraduate and Graduate|
|2.20% – 6.17%4||Undergraduate and Graduate|
|1.05% – 11.44%5||Undergraduate and Graduate|
|1.82% – 11.32%6||Undergraduate|
|N/A7||Undergraduate and Graduate|
|1.12% – 11.23%8||Undergraduate and Graduate|
|1.15% – 11.01%9||Undergraduate and Graduate|
|* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1 Important Disclosures for College Ave.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
Information advertised valid as of 7/22/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
3 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.
4 Important Disclosures for EdvestinU.
EDvestinU is a product of the nonprofit New Hampshire Higher Education Loan Corporation (dba The NHHEAF Network) NMLS ID#1527348.
APR range and repayment rates displayed assume a $10,000 loan disbursed in two equal disbursements. APR low assumes immediate repayment and 7 year repayment. APR high assumes deferred repayment and 15 year repayment. APR’s presented include a .50% interest rate reduction for electing to have payments automatically deducted from a bank account. The interest rate reduction for authorizing our servicer to automatically deduct monthly payments from a savings or checking account will not reduce the monthly payment, but will reduce the monthly finance charge, resulting in a lower total cost of loan. All examples are provided for educational purposes and actual terms may vary based on credit history, loan amount, applicable repayment term, and chosen repayment plan and method. Please note that the interest rate on variable rate programs may increase or decrease over time. The variable rate example assumes the same standard rate for the life of the loan. The NHHEAF Network reserves the right to modify or cancel its program at any time.
Eligibility: Dependent and independent U.S. citizen students. Currently residents of Washington and California are not eligible for EDvestinU programs.
Loan Limits: Minimum loan amount of $1,000.
Repayment: Standard or graduated repayment options available during repayment; 7, 10, or 15 year term selected by the borrower.
Cosigner Release: Cosigner release allowed if an account is in current standing, after 36 months of consecutive & on-time payments with a borrower FICO >749 for EDvestinU Private Student Loans and minimum income requirement of $30,000 with no foreclosures, repossessions, wage garnishments, unpaid tax liens, unpaid judgments or other public records having an open balance exceeding $100 during the last 7 years. The borrower must not currently be involved in bankruptcy proceeding or had any bankruptcy filings during the past 10 years and cannot have any defaults on education loans.
5 Important Disclosures for Earnest.
6 Important Disclosures for Ascent Student Loans.
Ascent Student Loans Disclosures
Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: >AscentFunding.com/Ts&Cs;.
Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: >AscentFunding.com/Rates.
1% Cash Back Graduation Reward subject to terms and conditions, please visit AscentFunding.com/Cashback. Cosigned Credit-Based Loan student borrowers must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs are available for the most creditworthy applicants and may require a cosigner.
7 Important Disclosures for Funding U.
Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
8 Important Disclosures for SoFi.
UNDERGRADUATE LOANS: Fixed rates from 4.13% to 10.66% annual percentage rate (“APR”) (with autopay), variable rates from 1.12% to 11.23% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.13% to 10.90% APR (with autopay), variable rates from 1.10% to 11.34% APR (with autopay). MBA AND LAW SCHOOL LOANS: Fixed rates from 4.08% to 10.86% APR (with autopay), variable rates from 1.05% to 11.29% APR (with autopay). PARENT LOANS: Fixed rates from 4.23% to 10.66% APR (with autopay), variable rates from 1.20% to 11.23% APR (with autopay). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin and your APR may increase after origination if the LIBOR increases. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 4/1/2021. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (>www.nmlsconsumeraccess.org).
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
Undergraduate Rate Disclosure: Variable interest rates range from 1.15% – 11.01% (1.15% – 10.24 APR)Fixed interest rates range from 4.18% – 11.70% (4.18% – 10.83% APR).
Graduate Rate Disclosure: Variable interest rates range from 1.89% – 10.66% (1.89% – 10.41% APR). Fixed interest rates range from 4.64% – 11.23%% (4.64% – 10.95% APR).
Business/Law Rate Disclosure: Variable interest rates range from 1.89% – 9.22% (1.89% – 8.50% APR). Fixed interest rates range from 4.38% – 10.44% (4.38% – 9.72% APR).
Medical/Dental Rate Disclosure: Variable interest rates range from 1.89% – 8.02% (1.89% – 7.72% APR). Fixed interest rates range from 4.28% – 9.24% (4.28% – 8.94% APR).
Parent Loan Rate Disclosure: Variable interest rates range from 1.97% – 7.06% (1.97% – 7.06% APR). Fixed interest rates range from 4.94% – 8.58% (4.94% – 8.58% APR).
Bar Study Rate Disclosure: Variable interest rates range from 4.44% – 9.58% (4.44% – 9.52% APR). Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR).
Medical Residency Rate Disclosure: Variable interest rates range from 3.53% – 7.03% (3.53% – 6.76% APR). Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR).
Variable Rate Disclosure: Variable Rates are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of June 1, 2021, the one-month LIBOR rate is 0.09%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%.
Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.
Lowest Rate Disclosure: Lowest rates require a 5-year repayment term, immediate repayment, a graduate degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.
Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.