To apply for a Charles T. King loan you must meet the eligibility requirements outlined on the home page. Our loans are need-based and only will be evaluated after receiving your application, FAFSA form, and tax return(s).

Your loan application, FAFSA, and tax return(s) will be reviewed by current board members. If you are deemed to qualify for a loan, an interview will be scheduled with the student and their parents. All loan decisions will be made by June 30th.

Yes, at CTK we believe it is of the utmost importance to protect the confidentiality of our loan applicants. All board members sign a confidentiality of information agreement to ensure none of your personal information is shared outside of the organization.

Yes, all students are required to have their parents or guardians as co-signers on the loans. Promissory notes are issued annually and upon renewal of the loan.

All applications must be submitted online or mailed by May 10.

Loans are to be used for tuition only. Checks will be sent out to the Treasurer of the College at which the applicant is attending in two installments—one for the fall semester, and one for the spring semester.

We understand that most students attend college for four years. If your loan is approved we will allow you to receive the same of amount of money for each year of your undergraduate studies (generally four years, although some programs are a minimum of five years). You will have to fill out of a short online form each year to ensure that you continue to receive funding.

Repayment terms are documented on the application and also in the annual promissory notes. If a student graduates in May/June, their first payment is required on January 1 of the following year. Payments are based upon the loan size and are expected to be paid back quarterly in the same amount of years as received.

For example, if a student borrows $6,000 annually for 4 years (a total loan amount of $24,000), then their quarterly repayment obligation would be $1,000 per quarter for the next 6 years starting Jan 1.

($24,000 / 6 years / 4 quarters = $1,000 per quarter or $333 per month)

Loan deferrals are granted on an individual basis with proper documentation that the student is either still enrolled in their undergraduate program, or is enrolled in a post-graduate program. A deferral application will be sent upon request to the Fund Treasurer.

Unfortunately, the Fund does not offer any loan forgiveness as a non-profit private loan fund. Since the fund does not currently charge interest on the loans, the fund relies entirely on student repayments to 'pay it forward' to support the next classes of students requiring funding.

Yes, The Charles T. King Student Loan Fund is a New Jersey based 501(c)(3) corporation. Our Tax ID number is 22-6052901. The funds raised for your donation are used to support students from Millburn township who require financial assistance to pursue their educational goals after graduating high school.