TOBACCO REGION LOAN FORGIVENESS PROGRAM

IF YOU DID NOT RECEIVE A 2016-17 AWARD:

TOBACCO REGION LOAN FORGIVENESS PROGRAM

SOUTHWEST AND SOUTHSIDE:


Eligibility:

  • A legal resident of the United States, having resided in the Southside or Southwest Regions (see map on home page) for not less than 12 months with no ties to any other state
  • Currently enrolled for a minimum of 9 semester hours (or 13.5 quarter hours) in a bachelor’s program at a baccalaureate accredited institution of higher education, public or private, in-state or out-of-state
    • Two-year programs at a 4-year college or university are acceptable if not offered by the Virginia community college that serves the applicant. If you choose to receive funding towards an associate’s degree, this program will help with funding for only one degree per student per lifetime
  • Applicant must be in good standing with the college or university.
  • Award limited to 2 semesters per academic year
  • Award limited to one degree per student per lifetime (maximum of 4 years)
  • Freshmen must submit acceptance letter from baccalaureate institution

SUPPORT DOCUMETS:

  • ALL applicants must submit an official transcript providing Fall 2016 cumulative GPA, based on a 4.0 scale, by due date posted. DO NOT SUBMIT DOCUMENTS BEFORE YOU HAVE SUBMITTED AN ONLINE APPLICATION.
  • Graduating high school seniors only must submit:
    • A copy of acceptance letter to 4-year college AND
    • An official transcript from high school providing cumulative GPA for the first semester of 2016-17, based on a 4.0 scale. High school transcripts received not based on a 4.0 scale will not be accepted. A corrected transcript must be received on or before the document deadline.
  • Southwest applicants from the counties of Bland, Buchanan, Carroll, Dickenson, Floyd, Grayson, Lee, Russell, Scott, Smyth, Tazewell, Washington, Wise, Wythe and the cities of Bristol, Galax and Norton who are the direct descendants of burley tobacco quota holders/growers during 1998-2004, can submit documentation (MQ24, 156EZ, or other tobacco documents, and Notarized Statement), and if funds are remaining after returning recipients are awarded, will be processed by the following final rules below under “Award Guidelines”.

AWARD GUIDELINES:

  • First priority is given to returning recipients who received an award in 2016-2017, submitted a new application and support documents by the deadline, and continue to meet program criteria, by GPA.
  • If funds remain available, next priority will be given in the following award order as a forgivable loan. Below is the official award order for new 2017-18 awards.

    SOUTHWEST REGION: Residents of Bland, Buchanan, Carroll, Dickenson, Floyd, Grayson, Lee, Russell, Scott, Smyth, Tazewell, Washington, Wise, Wythe counties, and cities of Bristol, Galax, and Norton:
    • Juniors and Seniors with STEM-H majors by GPA who are descendants of tobacco quota holders/growers during 1998-2004 (with documentation), and then other Juniors and Seniors with STEM-H majors by GPA,
    • Juniors and Seniors by GPA who are descendants of tobacco quota holders/growers during 1998-2004 (documentation) by GPA, and then to other Juniors and Seniors by GPA,
    • Sophomores by GPA, with priority given to descendants of tobacco quota holders/growers during 1998-2004 (documentation), and then to other Sophomores by GPA,
    • Freshmen by GPA (4.0 to 2.0 order), with priority given to descendants of tobacco quota holders/growers during 1998-2004 (documentation), and then to other freshmen by GPA.
    SOUTHSIDE REGION: Returning 2016-2017 award recipients will be awarded first (by GPA). If funds remain, official award priorities will then be:
    • Juniors and Seniors with STEM-H majors by GPA,
    • Other juniors and seniors by GPA
    • Sophomores by GPA
    • Freshmen by GPA (4.0 to 2.0 order)
  • NOTE: AWARDS ARE BASED ON THE AVAILABILITY OF FUNDING AND CRITERIA ESTABLISHED YEARLY BY THE VIRGINIA TOBACCO COMMISSION.

AWARD AMOUNT:

  • For new award recipients, 2017-2018 award is $1000 per semester for both Fall 2017 and for Spring 2018, for a maximum of $2000 per academic year, as a forgivable loan. Students will be required to sign a Master Promissory Note to receive funding and also an Addendum after payment is made to the institution of higher education attended. If student is under 21, a co-maker’s signature will be required on the Master Promissory Note and Addendum.
  • Funds awarded and paid are a forgivable loan. Funds can be used for tuition, room and board, or books, however, colleges must invoice this program.
  • Student must be enrolled in a minimum of 9 credit hours per semester (or 13.5 per quarter) at a 4-year college/university.
  • Award limited to help with one degree (maximum of 4 years). Previous award years will count toward the 4-year maximum.
  • All payments are made to recipient’s college/university.
  • Applicants are subject to new award rules by the Virginia Tobacco Commission each year.

MASTER PROMISSORY NOTE:

  • Applicants who are awarded will be notified by email and will also be receiving the Master Promissory Note for completion by email. The Master Promissory Note should be read carefully and then electronically signed promptly and submitted. A completed and signed Master Promissory Note must be received in this office before we can inform college/university of an award. NOTE: Students under 21 years of age will require a co-maker (co-signer) who will have to complete and sign the Co-Maker’s section of the Master Promissory Note send forward.
  • Forgiveness for loans can be earned as specified by the terms in the Master Promissory Note under #5 Forgiveness. Terms for repayment can be found under #1 Repayment.
  • IMPORTANT!! PLEASE READ THE ENTIRE MASTER PROMISSORY NOTE BEFORE APPLYING FOR THIS LOAN AND BEFORE ACCEPTING IF AWARDED. CLICK ON LINK BELOW TO VIEW A COPY OF THE MASTER PROMISSORY NOTE AND ADDENDUM TO INSURE YOU ARE FULLY INFORMED OF THE TERMS.   Master Promissory Note and Addendum