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YOUNT SCHOOL LOANS

School loans should be considered a last resort for financing an education. Who wants to pay back a loan? However, when needed, school loans are a very good investment. Most college students end up having to borrow some money. That’s often because no one taught them how to use other mechanisms to fund their schooling. The Yount Seminar is designed to help people explore those other options prior to going the loan route.
When loans are needed, the Yount Program makes loans available to worthy and needy LDS Church members age 18-40. The purpose is to give them a financial boost when needed.

• How Yount Loans Work
• Loan amounts are up to $5,000 per year and $10,000 total. Loans have a low interest rate (currently 3% - but subject to change based upon inflation). Loan money is paid directly to the school, semester by semester. An invoice from the school is required. Students are reimbursed for books and supplies up to $200 dollars. Receipts are required.
• Students begin repaying their loans while in school with a monthly $5 payment. Within 150 days after finishing or ending school, students must start repaying the loan. The loan repayment is amortized over eight years. Yount loan funds are limited. Faster repayments allow more people to have a loan opportunity.
• Yount Loan Requirements
• Complete the Yount Seminar. Applicants with at least one year of successful college or technical training may only need to complete certain parts of the seminar.
• Pay your own way as much as you can and work part-time while in school.
• Complete the loan application (done online), including:
• —Have Employment Resource Services validate the job opportunity and salary estimates for your chosen career.
• —Obtain worthiness signatures on a printed copy of the finished application from both bishop and stake president.

About Worthiness and Need
Other than a missionary requirement, worthiness and need are determined by the bishop and stake president.
The Yount Loan Committee expects male members of missionary age to serve missions unless they are excused from missionary service (due to marriage or handicapping conditions, etc.) That is part of the worthiness requirement. However, if a person has not reached missionary age they may apply for a Yount Loan to begin their education. Payments are exempted while they are on their missions.

• Yount Program Contact Information
• See this website for current contact information.
• For application assistance after the Young Seminar, contact Judy Maxfield:
• Phone: (800)453-3860 X 20083, (801)274-1559, Cell (801)274-1540  
• Email: maxfieldjl@ldschurch.org or accelered@att.net