JELF Loans More Thank $73,000 for Financial Aid in the 2022-2023 School Year

Charlotte Jewish News February 2022

In 2021, Jewish Education Loan Fund (JELF) assisted 398 students with $1,845,851 in interest-free loans. Of this total, 17 Jewish students from Charlotte were provided $73,126 toward their educational journey.

Applications for JELF’s interest-free loans for higher education (college, graduate school, and vocational programs) for the 2022-23 academic year will open to Jewish students beginning Jan. 3 and through April 30, 2022.

JELF provides interest-free last-dollar loans for higher education to Jewish students in need, bridging the gap between a student’s total financial resources and the cost of attending school. Since 1961, JELF has provided more than $14 million to more than 5,000 students from JELF’s five-state region of Florida, Georgia, North Carolina, South Carolina, and Virginia (excluding metro DC). JELF is proud to boast a 99% repayment rate and strongly believes that money should not stand between a student and the education needed to excel in life. JELF, in partnership with the Jewish Federation of Greater Charlotte and Jewish Family Services, helps Jewish students reach their academic goals.

To qualify, an applicant must be:

• A permanent resident of FL, GA, SC, NC, and VA (excluding metro DC) but can attend any U.S.-accredited school

• Enrolled full time in a program leading to a degree or certificate

• In good academic standing

• A U.S. citizen or have lawful immigration status

• Able to provide a designated cosigner

• Planning to accept federal subsidized and unsubsidized loans (2021 FAFSA application required)

JELF loans are designed to help cover costs associated with the educational and living expenses that other financial aid often does not cover, such as travel, rent, food, and books. JELF’s 0% interest loans help save borrowers thousands of dollars in high interest-bearing debt each year. With 45 million Americans in some form of outstanding interest-bearing student loan debt, this savings is a significant benefit to the Jewish students JELF serves annually. The strength of the longstanding “free loan” model is based on funds lent to those in need, and then paid back to serve the next student, and so on. As funds are recycled indefinitely, the organization’s sustainability allows it to always help future students in need. In addition, hundreds of former JELF recipients continue donating to JELF each year after completing their repayment. “This is the only type of organization I know of that when I write a check, I know exactly where it’s going, and it keeps going. My dollars never die,” says Stan Lowenstein, former board chair and longtime JELF volunteer.

Many organizations provide interest-free loans, but JELF is distinct because it is the only Jewish organization in the U.S. focused solely on higher education.

For more information about JELF, please visit jelf.org. For more information about JELF in Charlotte, contact Rachel Green at (704) 364-6594 or rachel. green@jfscharlotte.org.