PACE funds are disbursed in equal amounts at the beginning of each term. In 2001-02 PACE funds will be disbursed in equal thirds at the beginning of the fall, winter, and spring terms. Funds are disbursed electronically to Hendrix College and credited to the student's account. Students are notified by campus mail when the account is credited. Parents are required to complete an application for the PACE loan.
Eligibility is determined through a credit review process.
Typically, credit is approved unless there is adverse credit history such as bankruptcy. Most parents complete the application process in late spring or early summer. Yes, a new PACE application must be submitted and approved each year. The new application will necessitate a new credit check. Students must also demonstrate satisfactory academic progress as outlined in the Hendrix College Catalog to continue in this program from year to year.