USA Leo S. Rowe Fund Covid19 Emergency Scholarship 2020 for International Students Currently Covid 19 scholarship fund by Leo S Rowe is currently on going, interested students or applicants can easily apply for the Leo S Rowe Scholarship immediately after this Article.
Leo S Rowe Fund, a student loan program of the Organization of American States (OAS), help citizens from Latin American and Caribbean OAS member countries to finance their studies or research at accredited universities in the United States by awarding interest-free student loans.
Rowe Fund loans are granted to a student on the condition that upon the completion of his or her studies in the United States, the beneficiary must agree to repay the loan in full and return to his or her country of origin within a year of completing his or her studies in order to further enable intercultural exchange and socioeconomic development in the region. Rowe Fund loans include:
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Leo S Rowe Fund loans feature:
- Interest-free student loans
- Deferred repayment while in school
- No application or processing fees
- Use of a non-profit guarantor
- Applications are accepted and reviewed on a year-round basis and at any time during the studies in the U.S.
- Funding is sent directly to the student after approval
- Easy access to loan application forms and instructions online
Who is eligible to receive Leo S Rowe Fund ?
Table of Contents
Individuals from Latin American or Caribbean OAS member countries who are studying or have been admitted for the last two years of undergraduate, graduate or post-graduate studies in accredited universities or colleges in the United States, and
Students, scholars, and professionals who are either currently pursuing or wish to pursue advanced studies, research, or technical activities in the arts or sciences in universities or colleges in the United States and who are able to demonstrate, to the Committee’s satisfaction (through reference(s) regarding their qualification(s), recommendation(s) from their teachers, and other records), their need for assistance, the usefulness of their studies, and their ability to successfully complete them.
In addition, candidates must:
Be citizens of a Latin American or Caribbean Member State of the OAS;
Submit transcripts showing good academic records. Candidates must possess an overall grade point average of 3.0, “B”, or higher from their current or most recent academic institution in the United States;
Be able to successfully complete the studies or research for which the loan is being requested within a maximum of two years;
Have other sufficient sources of financing, such as savings, employment, fellowships, funds supplied by the students’ family, etc. to cover the greater part of their academic expenses. Due to the supplementary nature of the loans awarded by the Fund, students may apply for a loan to cover expenses directly related to their studies or emergencies not covered by their principal sources of financing;
Be accepted as full-time students in an accredited institution of higher education in the United States for at least one academic period (lasting at least four months). Disbursement of the loans is conditioned upon, and limited to, the student possessing a Student Academic or Exchange Visitor Visa (J, F, or M) allowing them to study full-time in the United States;
Agree to return to their country of origin within the time limit allowed by U.S. laws for optional practical training (OPT), if granted, and within one year after completion of studies in the U.S. This time period is given in order to allow a student to work for a U.S. employer in a job directly related to the student’s major area of study and occurs after completion of their studies covered by the Rowe Fund loan. This time limit for departure from the U.S. (the latest return date) is shown in the Student Loan Agreement;
The applicant’s Foreign Student Advisor must submit a form supporting the information provided in the student’s application;
Provide any official documents from academic institutions, such as transcripts of grades, diplomas, or the Foreign Student Advisor form either, as official documents duly sealed, stamped, or notarized, or under other safeguards that assure the Fund Secretariat of their legitimacy.
Leo S Rowe Fund
Rowe Funds up-to US$15,000 dollars during the course of the students’ studies. Students may apply for a loan to cover expenses directly related to their studies or emergencies not covered by their principal sources of financing.
ELIGIBILITY FOR GUARANTOR?
All Rowe Fund loans must be underwritten by a guarantor that pledges to repay the unpaid balance of the debt should the loan recipient default. Acceptable guarantors may be:
a. Preferably a person, other than a spouse, who is either a citizen or a permanent resident of the United States. Please visit our website for additional information and for the Guarantor’s Agreement form.
b. Certificates of Deposit (CD) or a direct deposit into the OAS Staff Federal Credit Union (OASFCU) – A person that has the amount requested by the prospective applicant may deposit that amount in a CD or savings account in the OAS Staff Federal Credit Union. The money invested in the CD plus the interest gained may be withdrawn once the beneficiary pays the loan. Please visit our website for more information about opening a CD or a direct deposit into the OASFCU.
c. An institution or other acceptable mechanism – For instance, this may be a reputable institution that provides adequate security to guarantee an individual, usually an employee or prospective employee of that institution, and that is able and willing to co-sign as the guarantor. Please visit our website for more information regarding the different methods to guarantee a Rowe Fund loan.
d. A financial institution offering to guarantee a Rowe Fund loan for a price. All charges and fees must be approved by the GS/OAS, and the institution shall ensure that the interest charged to students does not exceed three percent of the outstanding balance.
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HOW TO APPLY FOR Leo S Rowe Fund
The following is a list of documents and forms you must submit in order to apply for a student loan at the Leo S. Rowe Fund.
The list of documents and forms can be found in the “Loan Applications Forms” section of the Rowe Fund website. Please read carefully the “General Conditions” and “Frequently Asked Questions” before you fill out the application form.
Temporarily certain documents may be submitted via email to rowefund@oas.org. Complete applications are received by no later than the first day of the month you wish your application to be reviewed.
Completed Loan Application Form.
Completed form from Foreign Student Advisor, temporarily, the Advisor may send the form directly to the rowefund@oas.org with digital signature.
A copy of your I-20 or DS-2019 form.
An official enrollment verification from the University certifying your full time status for the period for which the loan is requested and expected completion date.
Most recent official transcripts.
A copy of the pages of your passport that identify your:
Picture, personal data, and country of citizenship.
The visa granted by the United States government.
I-94 form from the Immigration and Naturalization Service (INS). You may obtain the I-94 form at: www.cbp.gov/I94 including the latest entry date into the U.S.
Evidence of other sources of financing to cover the greater part of the academic expenses. For instance, a copy of documents that demonstrate funding from scholarships, fellowships, and subsidies granted to pursue your present studies. Also, submit proof of any salary that you are earning or have earned in the United States.
An official email or letter of recommendation from a professor or academic advisor.
Rowe Fund loans must be underwritten by a guarantor who signs an agreement pledging to repay the unpaid balance of the debt should the loan recipient default. Acceptable guarantors may be: a) preferably, either a citizen or permanent resident of the United States (other than spouse), or b) an institution, person, entity, or mechanism specifically accepted by the Rowe Fund Committee.
The following documents are required for a citizen or permanent resident of the United States: Temporarily, the requested documents below are received electronically on the condition that the original Guarantor’s Agreement duly notarized be sent later by mail.
Original copy of the Guarantor’s Agreement Form, duly notarized along with two copies.
A letter from the employer of the guarantor stating his/her annual income and the initial date of his/her employment.
The most recent copy of the guarantor’s bank statement or letter from the bank indicating the length of time the guarantor has been their customer.
The guarantor must reside in the US and submit copy of any of the following as proof of such status:
Birth certificate.
U.S. passport.
If the guarantor is a permanent U.S. resident, he/she must submit a copy of his/her green card.
Loan applications are processed through the Secretariat of the Rowe Fund. Loan applications that comply with the eligibility requirements will be reviewed and evaluated by the Committee; however, this is not to be defined as automatic approval. The decision of the Committee, which is final, is informed to the applicant by the Secretariat of the Fund. If you have any questions regarding the application process, please contact the Leo S. Rowe Fund Secretariat at: rowefund@oas.org
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