LOAN + GRANT PROGRAMS
Grants and loans are awarded to undergraduate or graduate students accepted to or enrolled in an institution of higher learning. Nonprofit organizations may also apply for grants (please see below). Awards are based on need with preference given, but not limited to, individuals and organizations connected to the Mount Olivet community and the United Methodist Church.
The amount dedicated to grants and loans each quarter is based on a percentage of investment income earned on the grant and loan funds. The Foundation Board considers grant and loan requests at its quarterly meetings in January, April, July, and October. Applications are due at the end of the month preceding the Board meeting.​​​​​​​​​
Grants for Individuals
Most individual awards are in the $500-$1500 range. Funds are sent directly to the institution of higher learning to be applied to the student’s account. Applicants may apply for multiple grants throughout their student years, but a grant will only be given once in a 12-month period. To apply, follow the instructions on the Forms Page.
Grants for Nonprofit Organizations
The Foundation awards grants to nonprofit organizations engaged in community development, education, social justice, and other charitable activities. Grants are given for specific projects or purposes not covered in the organization’s operating budget. Applicants are asked to send a letter signed by the Executive Director that includes information about the organization and the intended purpose of the grant funds. More details about specific information to include in the letter may be found on the Forms Page.
Loans
Loans, currently available with no interest, are made primarily to high school students entering college, undergraduate, and graduate students. Loan amounts are usually in the $1000-$5000 range and are approved for the academic year. If academic and repayment performance are satisfactory, additional loan requests will be considered. To apply for a loan and sign the Loan Agreement, follow the instructions on the Forms Page.
Loan Repayments
Loan repayments may be made by ACH transfer or a check to Mount Olivet Foundation, 1500 N. Glebe Road, Arlington, VA 22207.