Feild Co-Operative Association, Inc., was organized November 12, 1919, by the sons of the late Dr. and Mrs. Montfort Jones, Kosciusko, Mississippi, for charitable, educational, and scientific purposes. The name “Feild" was chosen to honor the founder's mother, whose maiden name was Sallie Thomas Feild. The fund was given freely, wholeheartedly and absolutely by the Jones family. After six years' experience in financing the education of students, the Association in 1925 established a REVOLVING STUDENT LOAN FUND which is designed to be self-perpetuating. The success in achieving this goal depends upon the cooperation of every borrower in paying loans when due. These borrowers must fulfill the trust which is theirs to insure the continuous operation of the Association. Loans are made to supplement other funds available to students, but never to cover all expenses.
Eligibility and Requirements
The Board of Directors of the Association generally restricts loans to residents of Mississippi, inasmuch as it is the state of the founders' birth.
Students of good character from freshman to graduate students, and students in special fields may apply for loans. Students must show evidence of need, and promise of social and financial responsibility.
The student must schedule an appointment for an interview at the Feild Co-Operative Association, Inc. office in order to receive an application. Upon receipt of the completed application, a credit report on all borrowers will be acquired and must show a history of acceptable credit.
Students must be enrolled on a full-time basis in order to qualify for this loan.
The Feild Co-Operative Association, Inc. loan maximum amount is $5,000.00 per year and does not accrue interest until the loan is in repayment. At that time the loan will accrue a fixed rate of 6% per annum.
Students may borrow for a period of four (4) years if there are no changes to the students eligibility or credit.
First payment on account is due not later than three months from date of graduation, or withdrawal from college for any reason.
In order to save interest for themselves, to eliminate the college debt more quickly and make the funds available to others, borrowers are urged to repay their loans ahead of scheduled time, if possible.
Application & Consideration:
The Association must obtain college records and secure information from all references whose names are given in the application. Applications will be made for only one year at a time. When an application has been processed, the student will be notified immediately.
Acceptance of such financial assistance imposes upon the student the obligation to maintain a high standard of work, to use these funds economically, and to keep a close relation with the Association, conforming with its principles and regulations.
Mailing Address: Feild Co-Operative Association, Inc.
4400 Old Canton Road, Suite 170
Jackson, MS 39211