SALT LAKE CITY-Per a Thursday statement, The Church of Jesus Christ of Latter-day Saints is easing the financial burdens of nearly 98,000 students in 75 countries who benefit from the Salt Lake City-based faith’s perpetual education fund.
Loan payments and interest charges have been deferred since May 1, 2020 and will continue to be paused until November 2020 because of the turbulence caused by covid-19.
This is a financial resource assisting Latter-day Saints of all ages and skill sets obtain education and skills that lead to self-reliance.
The funds are loaned by Church members and friends of the faith.
Money is then loaned to an individual to help pay for education and training.
Upon a student’s graduation, as soon as they are employed, he or she pays back the loan so that others can then participate in the program.
The limit on the number of days late a PEF participant can be to receive a new financial disbursement for school has been temporarily increased from 29-120 days.
When they are unable to safely procure the requisite paperwork to make a disbersement request, participants can then ask about other options to make a request.
Church leader endorsement forms are still required to obtain additional PEF loan disbursements. Because some local Church leaders may be unable to print out and sign the form at home, documents not signed by the participant can be temporarily accepted.
If the bishop or branch president is unable to sign the form, he can send an email.
In extreme circumstances, a bishop’s counselor may sign or send the endorsement.
