The Paula Bork Memorial Education Fund (PBMEF) was established to honor the memory of Paula Bork, by providing financial assistance to those who desire to pursue their quest for knowledge, through higher and or vocational education.
The PBMEF exists to provide financial assistance in the form of education loans to qualified applicants (members of the local Jewish community) who demonstrate strong academic performance and dedicated community service. The PBMEF exists to assist qualified candidates by lending funds to meet the financial obligations necessary to fund their education, which may help them achieve life goals that may be otherwise unobtainable, without resources from the PBMEF.
The underwriting and funds of the PBMEF are raised through the generosity of concerned individuals, corporations, and foundations sharing the common view that many of our local, national, and international problems can be solved by making people self-sufficient through higher education.
To apply for a loan through the Paula Bork Memorial Education Fund, click for an application.
The following information is provided along with the Educational Fund Application (see the link above) in order to better prepare you for what is expected of “Recipients of the Fund.” If you have any questions, please contact the Jewish Federation of Peoria.
- This is an educational loan, not a grant or scholarship. A Promissory Note signed by the student and Guaranty Agreement signed by the parents must be returned to the office before the check is issued for each semester loan.
- Resident – The “Fund” is for Peoria residents – those who are members of the Jewish community. Similar Funds can be found in other communities for those who are not Peoria residents.
- When the loan is issued, an interest rate will be determined. This interest rate will be based upon the national prime rate on the date of disbursement. However, no interest will accrue until after graduation. Students will have sixty (60) months, or five (5) years, from the date of graduation to repay the loan and remain in good standing. Repayment will be expected to begin six (6) months after graduation.
- The maximum request is for $2,500.00 per semester (two semesters per year), not to exceed a total of $10,000.00 per student. Loans will be made to students (traditional or non-traditional) who are attending an accredited institution to improve their education, improve their job skills, acquire an undergraduate or graduate degree. In addition to tuition, these funds may be applied towards room and board and books.
- Requests to continue the Fund Loan must be submitted in writing every semester, along with a copy of the student’s current grades.
- All changes of address must be provided to the Jewish Federation of Peoria to facilitate communication.
- The “Fund” exists to help with the cost of college, graduate school, nursing school, secretarial and approved training programs, etc. It does preclude primary and secondary education.
- A student who goes directly from undergraduate education to graduate/professional school may defer payment until graduate/professional school graduation. However, the loan will continue to accrue interest at the rate determined when the original loan was issued while the student is still in school full time in a program leading to a degree.
These criteria are as important to the “Fund” as they are to the student. They provide a necessary structure that cannot be ignored in whole or in part. The “Fund” exists to serve an important need. The Paula Bork Memorial Education Fund Committee cares very much about the issues involved with getting the opportunity to gain further education. Difficult circumstances will be taken into consideration. Please read the Application Form, Promissory Note and Guaranty Agreement. The Federation office will be glad to answer any questions to help you fill out these forms.