The person who helps another to become self-supporting by a gift or a loan or by finding employment for the recipient is the eighth and highest level of tzedakah or charity in Jewish tradition. There’s a clear connection to helping someone in their efforts to make a living. Dallas Hebrew Free Loan Association (DHFLA) provides no interest student loans to assist individuals in their efforts to obtain a college education.
DHFLA’s No Interest Student Loans Are College (and Graduate School) Bound
While education on its own is a core value to “The People of the Book,” post-secondary school education is usually a conduit to future employment. Whether a student acquires specific job skills, receives a professional license, or meets minimum hiring requirements, no interest student loans can ease the burden of tuition payments and bridge the gap between scholarships, financial aid and expenses.
It enables students to borrow less through interest-accruing loans. It is an affordable way to help underwrite undergraduate and graduate studies as students pursue their career dreams.
To that end, DHFLA recently increased the amount college and graduate students can borrow to $4,000 per semester to better help meet the need of students in pursuit of their degrees.
No Interest Student Loans Are Real
Do no interest student loans sound too good to be true? They exist. Dallas Hebrew Free Loan Association provides interest-free loans up to $4,000 per semester for a maximum of eight semesters for college and graduate school expenses (excluding fraternity or sorority fees). Students may borrow up to $32,000 over the course of their studies.
Loans are made in $4,000 installments for a maximum of eight semesters. The total amount borrowed cannot exceed $32,000.
Loans payments in monthly installments of $95 begin the month following loan origination (initial disbursement). Monthly payments remain $95 until six months following graduation or withdrawal from school.
Six months after graduation or withdrawal from school, monthly payments increase to $300 or 1/72nd of the remaining loan balance.
Serving Jewish Students in North Texas, North Central Texas, and East Texas
DHFLA no interest student loans are available to students in North Texas, North Central Texas, and East Texas Jewish communities. Students who are members of Jewish communities in Collin, Cooke, Dallas, Denton, Ellis, Erath, Fannin, Grayson, Hood, Hunt, Johnson, Kaufman, Montague, Palo Pinto, Parker, Rockwall, Somervell and Wise Counties, and any other county inclusive of Wichita Falls, Texarkana, Tyler, Waco and Longview, Texas are eligible for DHFLA no interest student loans.