Eligibility Conditions

Rowe Fund interest-free loans are granted to:

  • Individuals from Latin American or Caribbean OAS member countries who are studying or have been admitted for the last two years of undergraduate, graduate or post-graduate studies in accredited universities or colleges in the United States, and

  • Students, scholars, and professionals who are either currently pursuing or wish to pursue advanced studies or technical activities in the arts or sciences in universities or colleges in the United States and who are able to demonstrate, to the Committee’s satisfaction (through reference(s) regarding their qualification(s), recommendation(s) from their teachers, and other records), their need for assistance, the usefulness of their studies, and their ability to successfully complete them.

  • In addition, candidates must:

    1. Be citizens of a Latin American or Caribbean Member State of the OAS;

    2. Submit transcripts showing good academic records.  Candidates must possess an overall grade point average of 3.0, "B", or higher from their current or most recent academic institution in the United States;

    3. Be able to successfully complete the studies or research for which the loan is being requested within a maximum of two years; 

    4. Have other adequate sources of financing, such as personal savings, employment, fellowships, or financial support from their familiest to cover the majority of their academic expenses.  The loans provided by the Fund are supplementary in nature.  Therefore, students may apply for a loan to cover expenses directly associated with their studies or unforeseen emergencies that are not already covered by their primary sources of financing.

    5. Be enrolled as full-time students in an accredited institution of higher education in the United States for at least one academic period. Loan disbursement is conditional upon the student possessing a Student Academic or Exchange Visitor Visa (J, F, or M) that allows them to study full-time in the United States.

    6. Agree to return to their country of origin within the time limit allowed by U.S. laws for optional practical training (OPT), if granted, and within one year after completion of studies in the U.S.  This time period is given in order to allow a student to work for a U.S. employer in a job directly related to the student’s major area of study and occurs after completion of their studies covered by the Rowe Fund loan.  This time limit for departure from the U.S. (the latest return date) is shown in the Student Loan Agreement;

    7. The applicant’s Foreign Student Advisor must submit a form supporting the information provided in the student’s application;

    8. Provide any official documents from academic institutions, such as transcripts of grades, diplomas, or the Foreign Student Advisor form either, as official documents duly sealed, stamped, or notarized, or under other safeguards that assure the Fund Secretariat of their legitimacy.

    9. Rowe Fund loans must be underwritten by a guarantor who signs an agreement pledging to repay the unpaid balance of the debt should the loan recipient default on his or her payments.

    10. Only complete applications will be evaluated.  All documents must be sent at once through the online platform.  The Guarantor's agreement, duly signed and notarized, along with accompanying supporting documents, may be sent via email with the understanding that the original guarantor's agreement will be received via mail if the interest-free loan is approved and prior to disbursement.