The GO Fund
Our educational loan repayment program eliminates 100% of the student debt of our partners. We have carefully crafted a three-phase, 68 step process, to identify those who are most qualified for the program.
Candidate begins by applying online. We review credit reports, personal references, and facilitate phone interviews.
Candidate submits video presentation for review. Selection committee of six rotating volunteers virtually interviews candidate. Top candidates are selected.
Conditionally approved candidates must pay monthly toward their student loans, sign general agreement, and prepare power of attorney paperwork.
After ten years of faithful missionary service, the student debt will be paid in full.
Our complete process includes 68 steps to help our team partner with the most qualified candidates.
MINIMUM APPLICATION REQUIREMENTS
To ensure that our candidates are a good fit for the program, our first filtering method is our seven minimum requirements. Each of our candidates must meet these requirements to be eligible to fill out an application for our program.
The Great Commission is too great to send those who are under-qualified.
- Growing in love for and obedience to Jesus Christ
- Obediently making disciples of Jesus Christ
- Active in service and commitment to a local church body
- Track record of growth in wisdom-filled financial stewardship
- Place of service will be among the unreached
- Length of service will be long-term, or until the specific task is finished
- Supported and sent by a qualified sending agency
HOW PAYMENTS WORK
POWER OF ATTORNEY
Before our missionary partners leave for the field, The GO Fund secures notarized power of attorney documentation. This gives us the legal right to make loan payments toward the loans of our partners. This way, our partners do not have to worry about The GO Fund calling them while on the field with questions about their student loan information.
STRATEGIC LOAN RESTRUCTURING
Student loans can have interest rates ranging from approximately 3-10%. Because of the large rate variance, we use tools to ensure that we pay the least amount of interest to the loan companies, to make your dollar go further. For instance, we will often extend the terms on each individual student loan, which thereby lowers the monthly payment. We then take the money we would have used on the lowest rate loans, and apply all of it to the highest rate loan. With this method, we can pay off the highest interest rate loans in the first 1-3 years of the partnership. (This one might need its own page as we could do some really cool graphics, but lets see how it turns out first).
Our team manages the monthly repayment of student loans for each of our partners, including making payments, tracking changes in interest rates, and corresponding with loan providers. At the end of each calendar year, we prepare a 1099 form to report to the IRS and share with each missionary partner regarding the dollars allocated toward their student loans throughout the year. Though the IRS still considers our service income for the missionary, our partners may be able to offset this slight tax burden by annually deducting a portion of the student loan interest paid using IRS form 1098-E.
The 100% Model
100% of every public donation goes directly toward our program—no exceptions.
To cover our administrative costs, GO fund employees raise their own personal support. We also have a group of major donors called The Seed who give directly toward our other administrative costs.
17 Missionary Partners
$66,936 Debt Paid Off
8 Countries Engaged