Olson/Wolf Student Loan
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The Olson/Wolf Loan Program
A program of the Albion Education Foundation
Helping Local Students Afford College Since 1952
The Olson/Wolf Loan Program was established through the extraordinary generosity of two local farm families — Grant & Bernice Olson and Max & Hattie Wolf — who believed deeply in helping young people pursue their educational goals.
Grant and Berenice Olson, long-time Boone County farmers known for their hard work and resilience through the Depression and years of drought, gifted nearly $1 million from their estate in 1989 to create a revolving loan fund for area graduates.
The Wolf family — Max and Hattie Wolf, along with the legacy of Max’s brother Julius Wolf — began offering student loans as early as 1952, growing their fund over time before merging it with the Olsons.
Together, these families’ vision has allowed the program to award more than $800,000 to students from Boone, Antelope, Greeley, Nance, and Wheeler Counties, making higher education more accessible for generations.
Who Can Apply
You are eligible if you:
Graduated from a high school in Boone, Antelope, Greeley, Nance, or Wheeler County.
See a list of qualifying high schools--> Click HERE
Are enrolled in a degree, certificate, vocational, or postgraduate program.
Have a financially responsible adult co-signer.
How To Apply:
Both new applicants and renewing applicants may submit their application using the link below. All renewing applicants must fill out the form annually.
⚠️ Before starting the online application, please have all required documents ready.
Each document must be scanned and uploaded individually within the form.
Documents can be downloaded here.
Required Documents
Please gather and scan (or take a clear, readable phone photo of) the following items:
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Bank Letter- On bank letterhead, example attached.
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Loan Agreement- This form must be notarized in person before uploading.
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Notice to Co-Signer
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Most Current Transcript
📸 You can use your phone to “scan” your documents.
Take a clear, well-lit photo with the entire document visible and readable. Make sure to photograph each document individually before submitting your application.📁 Keep all of your documents stored safely after submitting. You may need them again for future renewals or verification, so do not discard them.
Important
Students may borrow up to $10,000 per year for up to five years (maximum of $50,000).
However, you are not required to take the full amount each year.
You may request any amount up to the annual limit, depending on what you actually need for education related expenses.Choosing a smaller amount can help reduce what you owe after graduation — the program is designed to be flexible so you can borrow responsibly.
Annual Timeline
Timeframe What Happens All Year Application available online HERE July 1 Application Deadline (no late applications accepted) Mid-July Loan notification emails sent to all applicants Late July Loan documents (Loan Agreement & Notice to Co-Signer) must be signed, notarized if required, and returned Late August 1st semester disbursement to student or college/institution (proof of enrollment required) End of January 2nd semester disbursement (proof of enrollment required)
Questions?
Contact Boone Central Schools.
If emailing with questions please reach out:
bcoffice@boonecentral.esu7.org
Subject line: Olson Loan (Student Name)Phone: 402-395-2134 ex 102 (Jordan Classen)
If You Are Awarded a Loan:
August 30: First semester payment (minus $50 fee)
January 30: Second semester payment
Proof of enrollment must be submitted each semester.
Loan Details
Up to $10,000 per year, paid by semester (up to $5,000 each semester).
- $50 management fee deducted from the first semester payment each year.
$50,000 maximum over 5 years
No interest while continuously enrolled in consecutive semesters/grading periods.
The loan converts to an installment loan negotiated with a local bank within 6 months of graduation or lapse of enrollment.
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