Terms and Conditions
Terms and Conditions
Why is it important to submit accurate information ?
You must fill out the application forms accurately completely and honestly. The information that you supply can be verified by your college, your state or local government authorities as well as by prominent civic leaders of the community in which you and your family live. You are encouraged to submit supporting documents whenever applicable. Incomplete application and incomplete information supplied may not only cause delays in considering and deliberating on your application but may also disqualify you from getting an otherwise well deserved loan scholarship. If you get the loan scholarship based on incorrect information you will have to pay it back immediately. You may also have to pay fines and fees. If you purposely give false or misleading information on your application you may be liable for legal action.
Who bears the cost of appearing for the personal interview ?
The student is required to bear the entire cost of the interview process. The Trust does not provide any financial assistance for purposes of interview.
If I am selected for a personal interview, does this guarantee financial assistance ?
The decision to provide financial assistance in the form of loan scholarship is made only after the personal interview. Therefore, selection for the interview in no way guarantees financial assistance. In all cases, the decision of the Board is final.
If selected how long will the financial assistance continue ?
Although not binding, it is the intent of the Trust to extend assistance. It is expected that the applicant will maintain satisfactory academic standards and records. The applicant is required to reapply every year along with the appropriate records.
If selected, when and how will I receive the funds ?
The monies will be issued through cheques drawn on local banks. The cheques will be drawn in favour of the student upon production of the receipt issued by the school or college for having paid the fees.
What if I am already receiving financial assistance / loan from another source which meets my financial need only partially? Am I still eligible for the KSPC Trust assistance ?
The applicant's eligibility is not compromised by the fact that he/she is already a recipient of financial assistance from another source. However, the responsibility of showing evidence of “need” rests entirely with the applicant.
What are the expectations for repayment of loan scholarship ?
The loan scholarship is to be repaid by the applicant or the guarantor in a timely fashion. The loan is interest free up until the applicant remains a bonafide student in an educational institution. It is expected that the loan will be paid back starting within one year of completion of his / her education. Repayment may be made in lump sum or in monthly instalments upon mutual agreement.
Does the Trust offer assistance to cover the full cost of the applicant's education ?
The Trust strives to offer the maximum funds possible to help the applicant meet his/her financial need. However, the resource of the trust often dictates the amounts available for distribution. This may mean that the funds allotted to a particular applicant fulfill only his/her partial need.
What happens if I am unable to repay the loan at the stipulated time upon completion of my studies ?
The Trust expects prompt repayment upon completion of the studies. The Trust will communicate with the applicant/guarantor to remind them of this responsibility.
If for legitimate reason the applicant is unable to repay in a timely fashion, the Trust may at its discretion allow additional time for repayment. The Trust may initiate legal action for recovery.
