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Interest-Free Loans


Don't pay interest on your student loan

When you take out a loan of any kind, you usually end up paying back more than you borrowed because of interest charges. With an interest-free loan from Central Scholarship, you will pay back only what you borrow.

Benefits of Our Interest-Free Loans

No interest fees or hidden costs

10-year graduated loan repayment plan

Save money compared to an interest-bearing federal or private loan

Can be deferred if a student goes back to school full-time

The Lowdown on Loans


is the average amount spent on college per year


of students take out Federal or private loans to cover expenses

4.5% - 6%

average interest rate means students pay back significantly more than they borrowed


average U.S. household student debt

Look How Much You Could Save Over 10 Years if You Didn’t Have to Pay Interest!

Federal Student Loan

  • 5.05% Interest
  • $25,000 Borrowed
  • $266/mo Payment over 10 years
  • $32,000

    Total Repayment

Interest-Free Loan

  • 0% Interest
  • $25,000 Borrowed
  • $208/mo Payment over 10 years
  • $25,000

    Total Repayment

You Save $7,000!

How do I apply?

Our application for interest-free loans is open from January 1 to April 1 each year for undergraduate, graduate, or professional students. Competitive students typically have a GPA of 2.8 or higher and may receive up to $11,000 per year. Students receive a 6-month grace period after graduation before payment starts. The loan can be deferred if a student decides to go back to school.


  • Maryland resident
  • Have a 2.8 GPA to be competitive
  • U.S. citizen or permanent resident
  • Plan to attend an accredited college, university, or community college in the upcoming academic year