Procedures and Requirements for the Bennett Fund

Procedures & Requirements 

The George and Helen Bennett Fund for Missionary Service has been established to remove student loan debt as an obstacle for Wheaton College students and alumni called by God to serve on the international mission field. This Fund provides for the refinancing of the educational debt of Wheaton College alumni who are preparing for mission service and are ready to proceed to the field. Recipients of the Bennett Fund will be required to serve a minimum of four years with 25% of the total loan debt being forgiven for each year of field service.

Requirements to Apply

• Received or will receive an undergraduate degree from Wheaton College
• Called to serve in overseas missionary service
• Plans to serve internationally a minimum of four years

Application Documents

• Bennett Fund Application
• Endorsements/Letters of Reference
  • Pastoral—An ordained or professional minister
  • Educational—A Wheaton College faculty member
  • Optional—A current or former missionary, Wheaton College staff member, or other individual with intimate knowledge of the applicant may also submit an endorsement (NOT A REQUIREMENT)

Loan Stipulations

• Educational student loans borrowed while an undergraduate student
• Federal, Private, and Institutional loans are all eligible
• Parent PLUS Loans and personal debts (credit card, auto/home loans) are NOT eligible
• Additional student loans incurred in acquiring a degree from the Wheaton College Graduate School will be considered for refinancing if the graduate degree is a requirement for missionary service
• Student loans in the name of an applicant’s spouse will also be considered for refinancing if such loans would otherwise prevent the applicant from entering the mission field

Requirements of Bennett Recipients

• Sign a Bennett Fund Master Promissory Note
• Submit the Mission Agency Certification Form
• Complete all of the requirements of the sending mission agency and all preparatory work (deputation, language training, etc.)
• Upon completion of each year of service, the recipient’s mission agency must verify the previous year of service to initiate 25% of loan forgiveness
• Notify Wheaton College of any interruption in field service in order to remain in good standing
• Should the recipient not complete four years of field service or fail to provide certification of field work, the recipient will be obligated to begin repayment of the balance of the Bennett Missionary Loan not previously forgiven.

Final Comments

At the sole discretion of the Bennett Fund Selection Committee, additional requirements or forms of documentation may be requested. Financial limitations of the Bennett Fund restrict the number of applicants who are selected to receive debt relief each year and may, in certain circumstances, preclude a recipient from receiving full loan forgiveness. For any questions or comments on the above information or anything related to the Bennett Fund for Missionary Service, contact the Wheaton College Financial Aid Office.

Student Financial Services
Wheaton College
501 College Avenue
Wheaton, IL 60187
(630) 752-5700
Bennett.Fund@wheaton.edu