Questions and Answers
What is CNH Loan Forgiveness Program (LFP)?
The LFP helps new graduates of an LCMS Seminary or Concordia University, whose first call is in the CNH District, pay back their student loans. The fund does not apply to vicars, or to those whose first call was in another District.
How is the program funded?
Interest earned on the Loan Forgiveness Endowment Fund and the CNH Board designated program investment fund, finance the program.
What loans qualify for LFP?
Any educational loan, incurred while a student at an LCMS Seminary or Concordia University, qualifies if the loan is with a bona fide lending institution and current.
How do I apply for the CNH Loan Forgiveness Program?
Download the application for LFP. Fill out the application form and attach the most current loan statements from all the lenders listed on the application. Include the name of the borrower, the outstanding loan amounts, loan account numbers (or the applicant's Social Security number), and the name and address of each lending institution. Mail (do not fax) these documents to the Business Office of the CNH District. We do not automatically renew grants. You must submit an application and loan documents to the CNH District Office annually.
What is the limitation for receiving a grant?
Each qualified applicant receives one grant per year for a maximum of three years within the first five years of continuous service within the CNH District.
How large of a grant can I expect?
It depends upon the interest earned from the LFP investments and the number of qualified applicants. All qualified applicants receive an equal percentage of the LFP monies in any one year, but no more than 20% of the their outstanding loan balance.
When do I submit a request?
The first application period is between September 1 - October 15; the second time to apply is between February 1 - March 15. Please do not submit your application at any time other time.
What are the grant recipient's responsibilities?
When the grant is $600 or more, we send a Form W-9. You must complete and return this form to the District office before we will make the payment. We will notify you after the grant payment is made. You must verify that the grant amount is properly credited to the right lending institution.
When do we distribute LFP grants?
The LFP usually distributes grants twice a year. The first distribution is between October and November, and the second distribution between March and April.
What is CNH Loan Forgiveness Program (LFP)?
The LFP helps new graduates of an LCMS Seminary or Concordia University, whose first call is in the CNH District, pay back their student loans. The fund does not apply to vicars, or to those whose first call was in another District.
How is the program funded?
Interest earned on the Loan Forgiveness Endowment Fund and the CNH Board designated program investment fund, finance the program.
What loans qualify for LFP?
Any educational loan, incurred while a student at an LCMS Seminary or Concordia University, qualifies if the loan is with a bona fide lending institution and current.
How do I apply for the CNH Loan Forgiveness Program?
Download the application for LFP. Fill out the application form and attach the most current loan statements from all the lenders listed on the application. Include the name of the borrower, the outstanding loan amounts, loan account numbers (or the applicant's Social Security number), and the name and address of each lending institution. Mail (do not fax) these documents to the Business Office of the CNH District. We do not automatically renew grants. You must submit an application and loan documents to the CNH District Office annually.
What is the limitation for receiving a grant?
Each qualified applicant receives one grant per year for a maximum of three years within the first five years of continuous service within the CNH District.
How large of a grant can I expect?
It depends upon the interest earned from the LFP investments and the number of qualified applicants. All qualified applicants receive an equal percentage of the LFP monies in any one year, but no more than 20% of the their outstanding loan balance.
When do I submit a request?
The first application period is between September 1 - October 15; the second time to apply is between February 1 - March 15. Please do not submit your application at any time other time.
What are the grant recipient's responsibilities?
When the grant is $600 or more, we send a Form W-9. You must complete and return this form to the District office before we will make the payment. We will notify you after the grant payment is made. You must verify that the grant amount is properly credited to the right lending institution.
When do we distribute LFP grants?
The LFP usually distributes grants twice a year. The first distribution is between October and November, and the second distribution between March and April.