Scholarship Organizations (EITC Funding to Parochial Schools)
The Education
Foundation Scholarship Organization is a 501(c)(3) non-profit charitable
organization.
The Education Foundation Scholarship Organization program provides
scholarships directly to parochical schools for Knights of Columbus
dependents from Kindergarden to 12th grade.
Do not confuse this special program with our Chance of a Lifetime (COAL)
or our regular scholarship programs for colleges and universities.
Educational Foundation
The Education
Foundation of the PA State Council Knights of Columbus is now a 501(c)(3)
non-profit charitable organization.
The Education Foundation provides school loans to you or your immediate
family to attend a College, University, or Graduate School of your choice.
You can obtain a school loan for an internet college degree education if
the on-line school grants a degree recognized by the state school
accrediating agency and the degree granting institution accepts STAFFORD or
Pennsylvania Higher Education Assistance Agency (PHEAA) loans. Our Knights
of Columbus STAFFORD or PHEAA loan is through National City bank at a
special interest rate -- several points below the government loan rate. The
student can only have one STAFFORD loan per year. You must qualify yearly
for this special loan rate -- Student must be either a third-degree member
of the Council in good standing; son of a third-degree member in good
standing; spouse of a member in good standing; or daughter of a member in
good standing over the life of the loan. If you leave the Knights of
Columbus or fail to be a Knight in good standing, your loan will revert to
the government loan rate and you are not eligible for the Foundation's
gift-rebate.
When the loan is completely paid in full, you may be eligible to receive
up to a maximum $1,000 gift (rebate) from the Education Foundation.
This gift is not a legal obligation by the Education Foundation. Your
gift-rebate amount will depend on the amount of interest you have paid (not
the principle) throughout the life of the loan. Some Knights may receive
much less than the $1000 amount if: (1) you have taken out a smaller loan,
(2) you did not forward a detailed statement of the monthly interest paid
as requested by the Secretary of the Education Foundation, (3) you did not
obtain the loan each year through the Knights of Columbus Education
Foundation, (4) you consolidated your loan with another bank or lending
institution, or (5) if you have defaulted (missed a monthly payment -- or mailed
a late payment even by one day) on your loan. If you missed a monthly
payment, you are ineligible for the gift-rebate. NOTE: some Colleges or
Universities may automatically reapply the student for the PHEAA loan using
their preferred bank or lending institution other than National City bank.
Please apply for the Education Loan every year through the Education
Foundation of the Knights of Columbus.
The Education Foundation Board of Directors establish the maximum
gift-rebate amount at our July Board of Director's meeting every year. At
our July 2007 meeting, the Board of Directors have voted to continue the
maximum $1000 gift-rebate for this fraternal year. Gift-rebates to eligible
students who have applied are mailed once each year.
If you paid off your student loan, why not apply for the Knights of
Columbus Education Foundation gift-rebate? I need three pieces of
information: (1) a photocopy of the letter you received that you completely
paid off the loan, (2) your initial interest rate of your loan, and (3) a
detailed copy of the interest paid each month. You can obtain this
information by calling the servicing agent that sent you the letter that
you have paid off your loan. Mail your information to the address listed
below.
Knight Card Corporation
Knight Card
Corporation is a for profit organization for the PA State Council of the
Knights of Columbus.
Support the Pennsylvania State Council of the Knights of Columbus and
apply for the Knights of Columbus credit card.
The Pennsylvania State Council of the Knights of Columbus will receive
money every time you use your Knight Card credit card. You can apply for
two different credit cards through National City Bank.
(1). Knight Card CashBuilder VISA: The Pennsylvania State Council
of the Knights of Columbus receives 0.1 of 1% on all purchases on this card
AND the card holder receives a 2% cash rebate up to a maximum of $1000 each
December.
(2) Knight Card VISA Platinum: The Pennsylvania State Council of
the Knights of Columbus receives 0.4 of 1% on all purchases on this card.
The PA KofC State Council receives more money but the card holder does NOT
receive a cash rebate.
The money the Pennsylvania State Council of the Knights of Columbus
receives from the Knight Card benefits the Knights of Columbus Catholic Charities.
