In 2020, JELF (Jewish Educational Loan Fund) provided 394 interest-free loans to Jewish college, graduate, and vocational students. This jump in loans came from an increase of 66 percent more applications over the previous year.
JELF serves students in the five-state region of Florida, Georgia, North Carolina, South Carolina, and Virginia (excluding metro D.C.) as they pursue their higher education.
In Richmond, JELF helped 5 local students with $20,000 in financial aid. The total student need for all the students in the JELF region was $2,352,906.
Through student repayments, increased fundraising, and the generosity of the Marcus Foundation, JELF was able to allocate $1,553,739 in interest-free, last dollar loans to these students.
JELF’s mission is to help reduce a student’s financial burden so that they can pursue their higher education full time. JELF’s interest-free loans of last resort help students pay for crucial living and medical expenses, books, supplies, transportation, and many other costs. By borrowing through JELF, this year’s 394 student loan recipients are estimated to save nearly $1 million in interest payments over the life of their loans.
Since JELF first started providing interest-free loans in 1961, the organization has loaned $16 million to 2,400+ Jewish students. JELF is proud to consistently maintain a 99 percent student repayment rate, even during this difficult year.
“What I love about JELF is that your contribution continuously pays it forward,” said JELF’s Board President Jane Aronoff. “Dollars used for one student when paid back, are used for the next. Every dollar lives on and on …”
JELF provides interest-free loans for Jewish students in need to meet their post-high school educational goals. Undergraduate, graduate, and vocational school students are eligible to apply.
The application is open from March 1 – April 30 for the full academic year and Sept. 1-30 for spring and/or summer semester(s) only.
For more, contact David Cohen via email at info@JELF.org.