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Home > News > SCF Partners with Canton Student Loan Foundation in Providing Funds to Stark County Students

SCF Partners with Canton Student Loan Foundation in Providing Funds to Stark County Students

Date posted: March 24, 2014

FOR IMMEDIATE RELEASE

CANTON, Ohio (March 24, 2014) – Stark Community Foundation (SCF) announces that the Canton Student Loan Foundation (CSLF) has established a fund that will assist them in their mission to provide low-interest loans to Stark County students in their pursuit of a post-secondary education.

The Canton Student Loan Foundation Charitable Fund will provide an additional funding stream for their revolving pool of funds. As students pay back their loans, these funds go back into the pool and the loan cycle continues, benefiting the next generation of borrowers.

“The Canton Student Loan Foundation, which has provided student loans to Stark County graduates since 1922, has traditionally invested our non-loan assets in very conservative investments such as CD’s,” said Lynn Hamilton, CSLF board president. “After recently working on several projects closely and effectively with SCF, we have elected to place some of our non-loan assets with them for longer term growth.”

“Stark Community Foundation has long recognized the importance of post-secondary education for Stark County students,” said Mark Samolczyk, president of SCF. “This fund will bolster CSLF’s ability to make available much needed financial assistance to students who don’t have the means to pay for college. We value the service they provide to the community and appreciate their trust in managing and investing these funds for them.”

Since its inception, CSLF has awarded more than $28.5 million in student loans and helps over 1,200 local students each year with their higher education expenses. These conscientious borrowers have enabled the foundation to boast a loan repayment rate of 99.8%.

“By creating this fund, CSLF is making an investment in the community,” said Bridgette Neisel, vice president of advancement. “We are excited to partner with the Canton Student Loan Foundation in providing resources that will not only benefit local students, but will provide a well-educated workforce in Stark County.”
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Stark Community Foundation is the community’s trusted partner in giving to nearly 600 individuals, families, businesses, and communities that have created funds to impact the lives of others through the most effective philanthropy possible. Serving the community from more than 50 years, Stark Community Foundation ranks in the top ten percent of community foundations in the United States and has granted $117 million to nonprofit organizations.

For more information, contact Bridgette Neisel, vice president of advancement at 330-454-7992 or bneisel@starkcf.org.

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