Guarantor Agreement - United States
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LEO S. ROWE PAN AMERICAN FUND / DEPARTMENT OF HUMAN DEVELOPMENT www.oas.org/rowe
1889 F Street, NW, Washington, DC 20006; Tel. (202) 458-6208; Fax (202) 458-3897; E-mail: [email protected]
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THIS GUARANTOR'S AGREEMENT, between the General Secretariat of the Organization of American States
("GS/OAS"), as the representative of the Leo S. Rowe Pan American Fund ("Rowe Fund"), and
_______________________(“Guarantor”), regarding a Rowe Fund loan to _______________________ (“the
Student”).
WHEREAS,
That the Student, ______________________________________________whose current address is
_______________________________________________________, has applied for a student loan in the amount
of US$_____________ from the Rowe Fund ("the loan") with the intention of using the loan to finance the Student's
education in the United States of America;
That the loan cannot be granted unless it is guaranteed by a qualified guarantor;
That the maximum amount that the Student may borrow under the Fund Regulations now in effect is US$7,500
per loan and US$15,000 in total during the course of studies for which the loan is granted, and that the Rowe Fund
Committee may, without notifying Guarantor, raise this ceiling.
That Guarantor has been informed that the Student:
__Has already been granted Rowe Fund loan(s) for US$_________
__Has not received previous Rowe Fund loans.
(please, check the one that applies)
That the Fund may make loans to the Student secured by different guarantors.
That Guarantor wants the Rowe Fund to grant the Student the loan, and after receiving and reading a copy of
the Student’s loan application, has therefore agreed to serve as guarantor of the loan.
NOW, WHEREFORE, IT IS AGREED,
FIRST: Guarantor guarantees the Student's payment of the loan in the amount of US$_____________, as well
as any and all interest and penalties owed in accordance with the terms of the loan agreement signed by the Student
covering the loan ("the Loan Agreement").
SECOND: Guarantor shall take all reasonable measures to assure that the Student repays the loan in
accordance with the terms of the Loan Agreement and to cooperate with GS/OAS in collecting past-due loan
payments, together with any interest and penalties accrued under the terms of the loan Agreement.
THIRD: That if the Student defaults on the loan agreement with the Rowe Fund, Guarantor shall pay GS/OAS,
for return to the Rowe Fund, the outstanding balance of the aforesaid loan, together with any interest and penalties
accrued under the terms of the loan, within thirty days of receiving written notice of the Student's default.
FOURTH: That if the Student receives more than one loan for the same degree and program of studies, the
loans shall be consolidated into one loan for administrative purposes, including collection. However, if different
guarantors have secured those loans, the individual responsibility of each guarantor for the total outstanding balance
shall be proportionate to the amounts they guaranteed, but in no case shall Guarantor be responsible for an amount
in excess of the amount he or she initially guaranteed plus any penalties as permitted under the Loan Agreement.
FIFTH: Notwithstanding the modification of the loan agreement so as to extend the repayment periods or so as
to increase or decrease the amount of periodic payments, Guarantor shall remain bound by the obligations set out in
this Guarantor's Agreement.
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