The Student Aid Report (SAR) from the FAFSA must be included for your application to be complete. Loans will be awarded on a financial needs basis.
- Each applicant may borrow up to $3,000.00 per school semester (Fall & Spring). The maximum number of semesters for which
loans are available is eight.
- Each loan application must contain the following supporting documentation: official class schedule, official school listing of
your gross tuition, book and school related fees, excluding fraternities or sororities, and the cost of living on or off campus as well as your Student Aid Report (SAR) from the FAFSA.
Once the initial loan is approved, you must resubmit all supporting documentation for each semester you are enrolled in
school whether or not you are requesting any additional loan amounts.
- All education loans require a minimum of two qualified cosigners. Parents of all applicants may co-sign their child’s loan. One
additional qualified cosigner (non-parental) will also be required.
- Each applicant must be of the Jewish faith.
- Prior to attending school, the applicant must be a permanent resident of the Dallas area.
- The applicant must have completed and submitted the Free Application for Federal Student Assistance (FAFSA) and submitted the Student Aid Report (SAR) to the DHFLA office..
- The applicant cannot currently have another outstanding DHFLA loan, or be a cosigner on another DHFLA loan.
- The applicant cannot be in bankruptcy.
- Student must maintain a 2.50 G.P.A. and supply proof of this each semester before subsequent loans will be granted.
- The cosigner must be at least 21 years of age.
- Preferably of the Jewish faith.
- At least one cosigner must be a current resident of the Dallas area for at least one year.
If out of the DFW Area, cosigner must be a close family relative.
- Is established, credit worthy, and capable of paying the full amount of the loan if the borrower fails to do so.
- The cosigner must give written consent authorizing the DHFLA to draw a credit report.
- The cosigner must not be a rabbi, cantor, or director of a Jewish institution, or anyone else whose position depends on the
goodwill of the community.
- The cosigner may not be living solely on a fixed income such as Social Security, Welfare, etc.
- The cosigner cannot currently be a borrower on another note.
- The cosigner cannot be in bankruptcy.
- Complete the cosigner application (each cosigner)
The student borrower will be expected to begin repayment 30 days after obtaining the loan. While attending school, the
monthly payments will be $75.00. Beginning six months after the student graduates and/or leaves school, or 6 months after completion of the semester during which the 8th loan check is received (whether of not you have graduated), the loan
repayment amount will be a minimum of $250.00 per month or 1/66 of the remaining loan balance (whichever is greater.)
PROCESSING STEPS TO FOLLOW:
- The borrower must complete his or her portion of the application in detail, sign the promissory note (spouse is required to be
an additional borrower). The specific terms of the promissory note (commencement date and payment amounts) should be left
blank until the interview.
- Cosigners must complete their portion and sign the promissory note, and the cosigner’s Information Release Authorization
Note: You must print and sign a promissory note for each cosigner required, and each cosigner will sign a separate promissory note (along with the borrower(s)) per privacy requirements.
- Once the application has been filled out in detail, the borrower may deliver or mail the application to the DHFLA office. He or
She will be contacted for a personal interview. The Student Loan Committee makes the final decision on all loans.
- Deadlines for receipt of supporting documentation for renewing student loans: August 31 for Fall, January 31 for
includes all the forms listed below:
- View or download Student Loan Promisory (pdf)
- View or download Student Loan Application Form (pdf)
- View or download DHFLA Education Loan Rules (pdf)
- View or download Guarantor Application/Release(pdf)
- View or download Guaranty Agreement (pdf)