Business Details
50+ Years
experience
Private Student Loans with Fixed Rates Since 1938
Pickett & Hatcher Educational Fund was established in 1938 through the Will of Claud Adkins Hatcher, a visionary entrepreneur and philanthropist dedicated to advancing education. As a private, nonprofit foundation, we provide low-interest private student loans to full-time undergraduate and graduate students attending accredited U.S. institutions. Our revolving fund model ensures that repaid loans continue supporting future generations of students. With over 85 years of experience, we prioritize accessibility, affordability, and financial responsibility. Our team maintains rigorous eligibility standards while offering personalized assistance to borrowers and endorsers.We operate with a fiduciary board committed to preserving Mr. Hatcher's legacy of educational investment. Our transparent processes include no origination fees and fixed interest rates of 2% during enrollment and 6% post-graduation. We serve students nationwide, focusing exclusively on traditional classroom-based degree programs. Our structured repayment plans and flexible terms reflect our dedication to student success and financial stewardship. By emphasizing earned opportunity and community impact, we continue to fulfill our founder's vision of creating responsible leaders through education.
Services
Private Student Loans
Undergraduate Loans
Graduate Study Loans
Loan Renewals
Endorser Assistance
Details
- Year established: 1938
Highlights and features
- We offer 2% in-school interest rates with no origination fees
- Our revolving fund model supports generations of students
- We maintain fixed 6% repayment interest rates
- Our foundation has served students nationwide since 1938
- We provide personalized assistance with loan applications
Services
Private Student Loans
We provide private student loans up to $15,000 annually for full-time undergraduate and graduate students. Our fixed-rate loans feature 2% interest during enrollment and 6% after graduation. Funds cover tuition, room and board, and educational supplies directly to borrowers.
Loan Renewals
Eligible borrowers can renew loans annually while maintaining academic standards. Renewal applicants must demonstrate continued eligibility through transcripts and updated financial information. This ensures consistent support throughout degree completion.
Endorser Assistance
We assist applicants in securing credit-worthy endorsers, including parents or guardians. Our process evaluates endorser credit history through consumer reporting agencies. First-time applicants receive one opportunity to name a qualified endorser.
Repayment Plans
Our repayment plans begin six months after graduation with 180-month terms. Borrowers may choose shorter terms or make early payments without penalty. Interest-only payments start during the grace period, followed by principal and interest installments.
Financial Counseling
We offer personalized financial counseling to help borrowers understand their obligations. Our team provides guidance on loan terms, repayment strategies, and financial management. This support continues throughout the loan lifecycle.
People
Donna S. Hand
Chairman
Donna S. Hand leads our board with extensive experience in educational finance and nonprofit governance. She oversees strategic direction while maintaining our founder's vision of accessible education.
Anne H. Mathews
Secretary
Anne H. Mathews manages administrative operations and ensures compliance with our lending standards. Her background in educational administration supports our commitment to responsible loan practices.
Frank D. Brown
Board Member
Dr. Frank D. Brown contributes academic expertise to our eligibility criteria. His educational background informs our focus on academic achievement and student success metrics.
Gardiner Z. Church
Board Member
Gardiner Z. Church provides financial oversight for our revolving fund model. His experience ensures sustainable operations while maintaining our low-interest rate structure.
Walter W. Calhoun
Board Member
Walter W. Calhoun focuses on borrower relations and community engagement. His work connects us with students and educational institutions nationwide to expand our impact.
Questions
What are the eligibility requirements for your student loans?
Applicants must be U.S. citizens enrolled full-time in accredited 4-year U.S. institutions with a 2.0 GPA minimum and credit-worthy endorser.
What loan amounts do you offer?
We provide up to $15,000 annually ($7,500 per semester) with a $60,000 cumulative limit for undergraduate and graduate studies.
What interest rates apply to your loans?
Loans carry 2% interest during enrollment and 6% after graduation, with fixed rates that never increase.
How are loan payments structured?
Repayments begin 6 months after graduation with 180-month terms, though shorter options are available and early repayment has no penalty.
Are there any additional fees?
We charge no origination or processing fees, though Florida residents may owe a $0.35 per $100 document stamp tax.