Learn

Should I apply for a Perpetual Education Fund loan?

Time:Set the timer to 30 minutes for the Learn section.

Read:We have considered ways to pay for our education. One option is a Perpetual Education Fund (PEF) loan.

Week 1	Week 2	Week 3	Week 4	Week 5	Week 6
What type of work will help me become self-reliant?	What education will qualify me for my work?	How will I pay for my education?	Should I apply for a Perpetual Education Fund loan?	How will I succeed in the classroom?	How will I succeed outside the classroom?

Read:This week, we will find answers to the following question and we will take the following action:

Read:QUESTION OF THE WEEK—Should I apply for a Perpetual Education Fund loan?

ACTION OF THE WEEK—Decide with my family whether or not I will apply for a PEF loan. If a PEF loan is right for me, I will complete the loan application.

What is a Perpetual Education Fund loan?

“What is a PEF Loan?” (No video? Read page 68.)

Discuss:

What thoughts or feelings did you have during the video?

Practice:Gather into teams of two or three. Take turns reading the following statements made by President Gordon B. Hinckley about those who receive PEF loans.

“[They] will learn … skills which are in demand. … With good employment skills, these young men and women can rise out of … poverty. … Education is the key to opportunity” (“The Perpetual Education Fund,” Ensign, May 2001, 52–53).

“They will marry and go forward with skills that will qualify them to earn well and take their places in society where they can make a substantial contribution” (“The Church Goes Forward,” Ensign, May 2002, 6–7).

“They will become leaders in this great work in their native lands. They will pay their tithes and offerings, which will make it possible for the Church to expand its work across the world” (“Reaching Down to Lift Another,” Ensign, Nov. 2001, 53–54).

“[They] will repay the money, and when they do so, they will enjoy a wonderful sense of freedom because they have improved their lives. … They can hold their heads high in a spirit of independence” (“The Perpetual Education Fund,” Ensign, May 2001, 53).

Discuss:Which promises above are important to you? How could life be different for you and your family if these promises were fulfilled?

Who may receive a PEF loan?

Read:Previously, PEF loans were only available to returned missionaries ages 18 to 30. Now they are available to all qualified Church members ages 18 and older. Let’s explore the requirements. (Exceptions to these requirements may be approved by priesthood leaders to meet unusual needs.)

Practice:Turn your chairs to face another group member. Together, read the requirements on the left in the box below. Then draw a line to the words on the right that fill in the blanks. One example is shown.

PEF LOAN PROGRAM PARTICIPANTS SHOULD BE:
Active members of the Church who serve in a .	institute
Endorsed by their priesthood leaders as worthy, in need of financial assistance, and dedicated to achieving their goals.	18 or older
Ages .	calling
Studying in a program and school that is .	Education for Better Work
Prepared by participating in an group and completing the PEF loan plan.	temple
Living, working, and attending local schools in areas where .	on the Preferred Schools and Programs List
Committed to integrity and self-reliance by .	mentor
Partnered with a , who helps participants succeed with school, work, and loan repayments.	PEF loans are approved
Attending , if a young single adult.	fully repaying the loan

Please refer to page 69 for help understanding the requirements.

How does a PEF loan work?

Note to facilitator: Hand out the local PEF pamphlet that contains specific PEF program guidelines for your area.

Discuss:Briefly read the local PEF pamphlet, which includes PEF loan guidelines for your area. What do you learn?

Read:When we perform well, we can receive a reduction in our loan payments. The total loan amount that is due can be reduced when we (1) get good grades, (2) graduate, (3) meet our employment goal, and (4) make loan payments on time. If we do these things, we earn credit for our good performance, and the amount we owe is reduced.

For more information on PEF loans, see page 70. Carefully read this information again at home. You may also contact a self-reliance center with questions.

Discuss:Do you have other questions that the group can help answer?

How do I apply?

Read:The following are steps to apply for a PEF loan. Get with a partner and learn about the information you will need for each step. Turn to the page listed for each step and take turns reading (but do not fill out the information on the other pages). Then return to this page and put a check mark in the box for that step.

1. Select a job, program, and school from the SRS Preferred Lists (see pages 11, 14, 33, 34).

2. Complete an education finance plan (see page 50).

3. Select a PEF loan mentor (see pages 71–72).

4. Complete the PEF loan plan worksheet (see pages 73–74).

5. Receive priesthood leader endorsement (see pages 75–76).

6. Complete the online PEF loan application at srs.lds.org/pef (see page 77).

Discuss:Do you have all the information you need to complete the steps? If not, how can you get it?

What happens after I apply?

Read:After we complete the application, here is what happens.

¹ You submit an application

² PEF staff and leaders review application

³ If application is approved, you accept loan agreement on the PEF website

⁴ PEF specialist interviews you by phone and interviews your mentor by phone

⁵ You register for school and request that the school be paid

Discuss:Are there any questions? If you do not know the answers, visit the nearest self-reliance center.

After the meeting, if your facilitator has access to the Internet, he or she may open the PEF loan application website and demonstrate how to use it.

How do I make a payment?

Read:A PEF loan is not a gift and we are expected to pay it back. We commit to pay it back. We make this commitment during our PEF loan endorsement interview with our priesthood leader and when we complete the application online.

Our PEF loan repayments provide money for others to receive a PEF loan in the future, including members of our stake or district. If we do not repay, there is less money for future PEF loans.

Read the quote to the right.

“The beneficiaries will repay the money, and when they do so, they will enjoy a wonderful sense of freedom because they have improved their lives not through a grant or gift, but through borrowing and then repaying. They can hold their heads high in a spirit of independence. The likelihood of their remaining faithful and active throughout their lives will be very high.”

Gordon B. Hinckley, “The Perpetual Education Fund,” Ensign, May 2001, 53

Discuss:Why is repaying the PEF loan important? Consider these reasons:

• Honor commitments and increase the ability to keep covenants.

• Provide others the same opportunity to receive a loan.

• Receive the promised blessings for yourself and your family.

• Increase your faith in Jesus Christ and become self-reliant.

Read:To make sure we know how to make loan payments, we must make our first loan payment before our school can receive money.

Note to facilitator: Hand out payment instructions for your country.

Together, briefly review the payment instructions for your country.

What will it take to succeed with a PEF loan?

“I Have Two Hands to Work” (No video? Read page 78.)

Discuss:Choose one word to describe what you felt in this video. Share your word.

From what you know now, will you choose to apply for a PEF loan? What can you do during the week to make a good decision about this option?

Read:As we progress, we are not alone. Let’s remember: “I can do all things through Christ which strengtheneth me” (Philippians 4:13).