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Forgivable Loan Program 2019-2020
Submit Application:
By Mail: Student Financial Services, 3377 Bayview Ave., Toronto, ON, M2M 4B3
By Email: financialaid@tyndale.ca
By Fax: 416-226-2184
The Forgivable Loan Program (“FLP”) permits qualified students to apply for an interest-free loan
from Tyndale to pay for part or all of their tuition and living expenses. This loan will be forgivable
if the student meets the requirements of the FLP. To qualify for the program, students must
demonstrate financial need and meet all the requirements specified in this agreement. Students
are also expected to help sustain this program by raising funds for undesignated contribution to
the FLP pool.
Personal Information
Name:
Student ID:
UC or SEM:
Home Address:
City:
Province:
Postal Code:
Phone:
Email:
Date of Birth:
(mm/dd/yy)
Program:
FT or PT:
Have you completed the “Application for Tyndale Financial Aid”?
Yes
No
(Please apply at www.tyndale.ca/financialaid)
Has/will an immediate family member be contributing to the
Forgivable Loan Program?
Yes
No
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PLEASE READ AND SIGN THE DECLARATION
I understand that any amount of interest-free forgivable loan awarded by Tyndale may be
adjusted at the time of registration in accordance with the terms stated in the “Plan Document”
under “Eligibility Criteria”. The relevant statement reads:
“The Fund Committee will determine the amount of the interest-free forgivable loan to be awarded
having regard to the actual cost of one year’s education at Tyndale University College & Seminary during
the year the education is to be provided, and the level of financial need which cannot be met by personal
resource, scholarship, fellowships, bursaries, and grants, including those available from all levels of
government both of the student’s home jurisdiction and of Canada and its provinces.”
I hereby state that I have met and/or agreed to all the terms and conditions that are listed below:
1. A loan can be awarded ONLY if sufficient funds exist within the FLP pool.
2. All funds raised for the FLP will be placed in a general pool and then distributed to those
students involved in the program with financial needs. However, students with immediate
family members who have donated to the pool will not qualify for funding.
3. The loan will be forgiven provided that the student completes the academic term(s), the student
has not been dismissed for disciplinary reasons, and the student’s account above the loan
amount is paid in full.
4. An academic year is considered to be complete when all the required course work has been
submitted, including the writing of final examinations.
5. If the conditions set out in 3 and 4 are not met, the loan will become due and payable on
demand and any amount outstanding will accrue interest at the annual rate of 12% commencing
on the date of demand.
6. The estimated amount of the loan may change if the student’s financial situations as reported
on the application form changes. Any changes must be reported to the Student Financial
Resources Coordinator as such changes occur.
7. The student must notify the Student Financial Resources Coordinator of any changes in his/her
name or address as such changes occur.
8. Students are expected to help raise funds for the FLP. It is not Tyndale’s responsibility to solicit
funds for the student. 90% of all gifts received into the FLP will be directed to the program. 10%
will be set aside by Tyndale to cover the cost of administering the program.
9. Immediate family members of students involved in the program are not permitted to donate: a
student’s spouse, parents, parents-in-law, grandparents or siblings. Any question about this
policy should be directed to Mr. Bryan Tai, Coordinator, Student Financial Resources at (416)
226-6620 Ext. 2177
Signature________________________________________ Date _________________________
click to sign
signature
click to edit
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