How to Pay for College—And Lift Others Up Along the Way
OUR MISSION is to make higher education more accessible to students through interest-free private student loans, while building a legacy of generosity for students to pay that kindness forward.
How We Help Students Pay for College
Every student deserves a fair chance to pursue their dreams. But for many, the question isn’t “What should I study in college?” it’s “How will I pay for college?”
Traditional private student loans often carry high interest rates that can double the cost of a degree over time. That means, for example, your $80,000 loan can turn into $100,000 in payments. Even federal programs like FAFSA and Graduate PLUS Loans rarely cover everything.
That’s why the Evalee C. Schwarz Charitable Trust for Education was created: to make higher education attainable for undergraduates and graduate students who have the drive, the grades, and the need, but not necessarily the means.
A Trusted Student Loan Resource Since 2000
Since 2000, the Trust has provided private student loans that are completely interest-free, helping undergraduate and graduate students in all fields, including medical, dental, veterinary, pharmacy, and optometry programs, fund their education with dignity and peace of mind. Unlike profit-driven lenders, our purpose isn’t to make money from education—it’s to make education possible.
What Makes a Private Student Loan “Charitable”
Unfortunately, the college loan system as a whole has been designed to generate profit for lenders—but not us. The Evalee C. Schwarz Charitable Trust for Education was created to generate opportunity for students. That’s why we charge no interest on our loans.
As a charitable private student loan program, we believe in making education possible for students based on academic performance and financial need, not credit scores or cosigners.
Here’s how our approach compares to traditional private student loan programs:
The Cycle of Opportunity
How does it work? Once our loan recipients graduate and begin their careers, they repay the same amount they borrowed—without interest—so those funds can be loaned again to future students.
It’s not just financial aid; it’s a cycle of opportunity that continues to grow with every repayment.
The Heart Behind the Trust
Evalee C. Schwarz was more than a successful businesswoman—she was a visionary who believed in the power of hard work, education, and generosity.
In the 1980s, she made history as the first woman to own a Hyundai dealership in the United States, earning recognition for her leadership and determination. But her greatest legacy was yet to come.
After the loss of her husband, Evalee channeled her resilience into something greater: helping others achieve their dreams. Upon her passing, she directed that her estate be used to establish a charitable trust dedicated to education.
Her wish was simple yet profound—to give students a chance to succeed without the weight of high-interest debt. Today, her vision lives on through every student who earns a degree, every repayment that funds the next loan, and every story of success made possible by her generosity.
Carrying the Mission Forward
Today, the Evalee C. Schwarz Charitable Trust continues to empower the next generation of leaders, healers, and innovators; students who not only dream of a better future but help make it possible for others.
If you find yourself concerned about how to pay for college, we invite you to take the next step in your academic journey, learn more about our private student loan application process, and apply today.
Frequently Asked Questions
Is the Evalee C. Schwarz Charitable Trust a credible loan provider?
Yes! We have been providing 100% interest-free loans to students since 2000. Our loans are administered by Private Foundation Services, Inc., in partnership with the Bank of Texas, Trustee of the Evalee C. Schwarz Charitable Trust for Education.
Are these loans really interest-free?
Yes! Every loan through the Evalee C. Schwarz Charitable Trust for Education is 100% interest-free for the full repayment term.
When are applications open?
Applications for the 2026–2027 academic year open January 1st, and must be postmarked by April 10th. Please see our Private Student Loan Application Process for more details.
Who is eligible to apply?
Undergraduate (including high school seniors) and graduate students who are U.S. citizens, show financial need, and demonstrate strong academic performance may apply. (Law students are not eligible.) Please see our Private Student Loan Application Process for more details on credentials.
Do private student loans go directly to the school?
Unlike most other loans, funds from the Evalee C. Schwarz Charitable Trust for Education are paid directly to the student, allowing more flexibility for expenses such as housing, food, laptop computers, etc.
What can loan funds be used for?
Funds are disbursed directly to students and can be used for tuition, books, housing, technology, or other educational expenses.
How do student loans work?
Students may apply for the loan between January 1st and April 10th. Loan decisions are made at the annual meeting in June. Payment is issued by check, and is generally received by the student within 3 weeks of receipt of their signed loan documents. Repayment commences one year after the student graduates or discontinues attending school.
How long does it take for a student loan to be approved?
With an application deadline of April 10th, students will be notified after a decision is made by the Loan Team in June. Please see our Private Student Loan Application Process for more details on credentials.
What is the difference between federal and private student loans?
Federal loans are from the government. The Evalee C. Schwarz Charitable loan is a private loan established under a charitable trust and operates under its own rules as set out in the trust indenture.
Who manages the Evalee C. Schwarz Charitable Trust?
Our loans are administered by Private Foundation Services, Inc., in partnership with the Bank of Texas, Trustee of the Evalee C. Schwarz Charitable Trust for Education.