FFA & 4-H Youth Ag Loan Program
FFA & 4-H Loans are subject to the following:
- Interest rate is determined by subtracting the student's GPA from a base interest rate, currently 7.50% APR* as of 9/28/18. Base rate is subject to change.
- Up to a $10,000-line limit can be available for applicable projects. Amounts greater than $10,000 can be reviewed on a case by case basis.
- Repayment period is dependent on loan purchase.
- Student must have a qualified co-applicant, unless they are 18 and credit worthy.
- Program is available throughout student's eligibility to participate in FFA & 4-H.
- Loan Officer will make project visit(s) with the student to discuss how the project is doing, things to change and possible ways to expand
*APR = Annual Percentage Rate
Example: For a student GPA of 3.00, the loan rate wouldbe calculated as follows: base rate of 7.50% APR - 3.00% (GPA) = 4.50% APR loanrate. A loan of $10,000.00 at a fixed loan rate of 4.50% APR for 3 years will have annual payments of $3,638.01.
Grades based on an 11-point scale will be converted to a 4.0 scale.