SGL Loan Programs



The EDUCATIONAL FOUNDATION of the Independent Order of Odd Fellows began its operation on September 20, 1927. The purpose of the Foundation is to operate a revolving loan fund for qualified students dependent in part, or wholly, on their own efforts for an education, and to award scholarships to students based on scholarship, leadership and financial need. Since the beginning of the Foundation, donations of approximately $3,500,000 have made it possible for over 3,500 young people to receive student low interest loans amounting to over $6,800,000, and hundreds of thousands of dollars in scholarship awards.


Who Is Eligible to Receive a Loan?

It is required that applicants must be, or have a relative who is an active member of an Odd Fellow or Rebekah Lodge. A student desiring a loan must write personally to the Executive Director for an application. A maximum of $16,000 can be borrowed for a complete course of four years or more. The maximum is $5,000 for one year of study. All applicants must be attending school halftime or more to be eligible. The method of lending is as follows:

Freshman Year  • • • • $3,000
Sophomore Year • • • $4,000
Junior Year • • • • • • •  $4,000
Senior Year • • • • • • • $5,000

  • Freshman Year $3,000
  • Sophomore Year $4,000
  • Junior Year $4,000
  • Senior $5,000

The Loan Requirements

Students enrolled in 2 or 4 year college programs must establish one grading period with at least a “C” average in an accredited college or university before receiving loans.

The Loan Interest Rate and Repayment

The Interest Rate is 4%. Interest begins the day the check is mailed from the office to the student. Interest is paid each year while the student is in school. Interest payments are paid by July 1st each year until the borrower has graduated or discontinued school.

Repayment of loans must begin 3 months after the student has graduated or discontinued school.

  • 3 months post No Payment
  • 9 months post $50/month + interest
  • 2nd year post $75/month + interest
  • 3rd year post* $100/month + interest

    *and until loan is paid in full.

  • 3 months after graduation or leaving school No Payment
  • 9 months after graduation or leaving school $50/month + interest
  • Second year after graduation or leaving school $75/month + interest
  • Third year after graduation or leaving school and until loan is paid in full $100/month + interest

How To Apply

Applications can be obtained by contacting or writing to:

R. Kenneth Babb
Educational Foundation, IOOF
P.O. Box 20455
Winston-Salem, NC  27120

To inquire by email, contact [email protected] 

SGL Educational Scholarships Link -> click here.

Fax requests to: (336) 724-5116

When using EMAIL, identify Application(s) requested & address of student applicant

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Excelsior ♦ Minnetonka #102

Organized January 1,1885

Meeting Information

Meetings: 2nd & 4th Wednesday
(Jun-July, 1st & 3rd Weds)
Meeting Time: 7:00 PM
Address: PO Box 129

Contact Info

Ty Hodges, Secretary
10008 Quebed Ave. S.
Bloomington, MN. 55438
Phone: 612.638.7441

Excelsior, Minnesota ~ Minnetonka No.102

Past Grand Masters

  • Bernard Leach 1984-1985
  • Wesley Searles 1986-1987
  • Roland Schallberg 1999-2000
  • Allan P. Sauter 2003-2004
  • Bernard Leach 2005-2006
  • J. Douglas Plott 2008-2009
  • Rick Benesh 2015-2016
  • Wayne Rosengren 2017-2018
  • Robert Arthur, Jr. 2018-2019
  • Rick Benesh 2023-2024

Charter Members

  • W.H. Le Van
  • J.T. Rawlings
  • Wm. F. Darver
  • Lewis Hanson
  • Wallace W. Wait
  • Osby V.W. Digafoos
  • W.E. Rawlings

Any inquiries regarding genealogy questions should only be in regards to individuals that were a member of a Minnesota Lodge. All other inquiries for other states will be answered with a referral to your states Grand Secretaries contact information.

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