A Better Kind of Private Student Loan: Merit-Based, Need-Based, and 100% Interest-Free
Helping Undergraduate & Graduate Students Pursue Their Dreams Without the Burden of Interest
Paying for school shouldn’t mean decades of debt. The Evalee C. Schwarz Charitable Trust for Education offers interest-free private student loans to undergraduate and graduate students who demonstrate both academic excellence and financial need.When you repay your loan, every dollar goes directly toward helping another student, creating a lasting, pay-it-forward impact in education.
Applications Due April 10
Student Loan Interest Rates: The Hidden Cost No One Talks About
A Quick Look at Student Loan Interest Rates
While federal student loan interest rates tend to range from 6-10%, private lenders can be even higher, from 3-18% depending on your credit, cosigner, and loan type.
These numbers may not sound like much, but if you’re concerned about how to pay for college, it’s vital to understand this example:
An 8% interest rate on an $80,000 loan paid over 10 years means you will owe approximately $40,000 in interest. The terms of the loan can turn your $80,000 borrowed into $120,000 owed.
That’s why the Evalee C. Schwarz Charitable Trust for Education does things differently. Our 0% interest private student loans keep education more affordable and help students graduate without the additional burden of interest.
With the Schwarz Trust, every dollar you borrow goes toward your education, not toward interest.
Our Private Student Loans: What We Offer & Who Qualifies
Interest-free private student loans up to $20,000 per year / $80,000 lifetime
Available to undergraduate and graduate students in all fields (except law degrees)
U.S. citizens attending school in the state of residency (see exceptions for graduate programs)
Strong academics + financial need required
I'm looking for:
Why Students Choose the Evalee C. Schwarz Charitable Trust for Education
How the Schwarz Charitable Trust compares to other well-known private student loan options
The Evalee C. Schwarz Charitable Trust for Education offers a charitable alternative to well-known programs like Federal Student Aid (FAFSA), Sallie Mae, SoFi, or Discover Student Loans. Unlike traditional private loans, it’s interest-free and based on academic performance and financial need—so every payment helps fund future students.
Private Loan
The Schwarz Trust operates as a private student loan—offering flexibility and independence without the profit-driven structure of traditional lenders.
Interest Free
Every loan is completely interest-free, easing the financial burden of repayment and helping graduates start their careers without unnecessary debt.
Based on Academic & Financial Need
Funding is awarded based on academic performance and financial need, not credit scores or co-signers—making education more accessible and equitable.
Proven Credibility & Philanthropic Purpose
Who Is Evalee Schwarz?
Created through the Will of Evalee C. Schwarz, a pioneering businesswoman and philanthropist, the Trust has supported students since 2000 with merit- and need-based private student loans managed by Private Foundation Services and the Bank of Texas.
Each loan repaid helps fund the next—continuing Evalee’s legacy of opportunity and education for all.
How Our Private Student Loans Make a Difference in Students’ Lives
Education should open doors—not create lifelong debt. That’s why every private student loan from the Evalee C. Schwarz Charitable Trust for Education is designed to lighten the financial load so students can focus on what matters most: learning, growing, and building a better future.
learn more about:
Funds go straight to students
Not schools — so you can use them for tuition, housing, books, tech, or other educational needs.
Repayment starts one year after graduation
Giving you time to settle into your career before loan payments begin.
Extra support for medical students
Those in residency programs can freeze their payments at the lowest level for three years while transitioning into their careers.
Your repayment fuels the next student’s future
Every payment helps fund new opportunities and keeps Evalee Schwarz’s vision for accessible education alive.
Ready to Apply?
Applications for the 2026–2027 academic year open January 1st and must be postmarked by April 10th.
All applications are reviewed by our Loan Committee in June 2026.
