ABOUT OUR JOURNEY
The George Jay Drug Company, founded in 1888 originated in Shenandoah, Iowa. Founder George Jay, operated the pharmacy from 1888 until his death in 1938. His son, George S. Jay, returned as manager in 1937 and became manager/owner until his death in 1951. When his wife, Grace A. Jay, passed away in 1961, the Jay Memorial Trust was created according to the wishes of her and her late husband. The Trust was established in 1962 as an educational trust fund to help worthy students obtain a higher education through low-interest loans.
This charitable trust was made available for the purpose of providing low interest loans of 3% per annum to graduates of Shenandoah Community High School, Essex Community High School, and Sidney Community Schools. Students receiving the loans are free to choose any accredited university, college or trade school and field of study.
Applications can be picked up or provided via email at the addresses listed below. All applications shall be appropriately filled out, signed and returned to:
Jay Memorial Trust, 503 West Sheridan Avenue, PO Box 57, Shenandoah, IA 51601 or bonnie@jaytrust.org
Once accepted the student will be eligible to participate in the loan program each year the student is enrolled with full-time status (minimum of 12 credit hours per semester) or graduate studies (minimum of 9 credit hours per semester).
Undergraduate Student
The maximum loan amount in any one year is $4,000 for the regular school year ($2,000 per semester) plus additional $500 if enrolled in summer school.
Graduate Student
The maximum amount loaned to a student is $4,000 for the regular school year ($2,000 per semester) plus $500 if enrolled in summer school.
Please CONTACT Jay Memorial Trust for more information.