Memorandum of Understanding

Between

Questa Education Foundation

And

College Name
This Memorandum of Understanding (MOU) outlines the Questa Scholar Pay Back Program and the
relationship between College Name and Questa Education Foundation.
Program Overview
Questa Education Foundation is committed to assist Indiana college students and the northeast Indiana
communities with talent development and retention. Questa Education Foundation provides attractive
incentives to encourage college graduates to return to, or remain in, northeast Indiana to become contributing
members of our regions workforce. Questa Scholar loans focus on academically qualified students who
experience a funding gap between what they can afford to contribute and actual college costs.
College Name created an internal financial aid program to serve College Name students who are recipients of
Questa Education Foundation's scholars programs. Qualifying students will be referred to as "Questa Scholars"
in the remainder of the document.
Questa Scholars are defined as students who have been selected by Questa Education Foundation as recipients
of the Questa Scholars Program for traditional students. Or, the Questa Scholar may be part of the
Contemporary Scholars Program for returning, delayed start or Junior/Senior students. The selection of the
Contemporary Scholars will rely in part upon the recommended of the financial aid office at College Name.
Questa Scholars may include but not be limited to new, returning, transferring into, or existing students at
College Name. College Name partnership in the Questa Scholar Pay Back Program will be 25% payment of
any outstanding Questa Scholar principal loan balance upon his or her successful completion of graduation
requirements at College Name.
Program Criteria and Requirements
In order to qualify for College Name Pay Back Program loan assistance, Questa Scholars must remain in good
academic standing and complete all requirements for graduation from College Name, in addition to meeting
all Questa program requirements. Questa Scholars who do not complete graduation requirements or who
transfer to another institution to complete their undergraduate degree program will not be eligible for Pay
Back Program loan assistance from College Name.
Questa Scholars who transfer into College Name will be eligible to receive Pay Back Program loan assistance
from College Name up to 25% of Questa funds received during their enrollment at College Name. In other
words, a Questa Scholar transferring into College Name to complete their degree in two years and receives
$5,000 each of those years from the Questa Foundation, would be eligible to receive up to $2,500 in Pay Back
Program loan assistance from College Name (25% of $10,000.)
College Name will assist with repayment of 25% of outstanding Questa principal loan balances at the time of
graduation. If a Questa Scholar receives an award or early debt retirement assistance prior to graduation that
reduces the original Questa loan balance, College Name obligation for debt repayment assistance will be
College Name MOU

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reduced accordingly and shall reflect 25% of the total principal balance due at the time the Questa Scholar
graduates.

Questa Scholars Program Cooperation

College Name will promote the Questa Scholars Programs in its recruiting and marketing efforts. Questa
Education Foundation will include references to the College Name Questa Scholar Pay Back Program in
relevant marketing materials, including its website.
College Name will appoint a person to serve as the official contact and coordinate the activities of the
organization in carrying out this MOU. The initial appointees for College Name are:
MOU Agreement Contact:

Financial Contact:

_______________________________

______________________________

Name

Name

_______________________________

______________________________

Email
Email

_______________________________

______________________________

Phone #

Phone #

Financial Commitment
College Name will remit payment to Questa Education Foundation for the College Name portion of the
graduate's outstanding loan balance within 90 days of the student's graduation from College Name and upon
written verification of the outstanding balance by the Questa Education Foundation.
College Name may suspend its Pay Back Program for incoming students at its discretion. In the case of
program suspension, College Name will honor its commitment to Questa Scholars already enrolled at College
Name. College Name will provide adequate notice to Questa Education Foundation to allow the foundation to
adjust marketing messages as necessary.
Agreed to by:

_________________________
Name
Title
College Name

_____________________________
Marc R. Levy
Executive Director
Questa Education Foundation

__________________________
Date

______________________________
Date

College Name MOU

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