Hebrew Free Loan Association of Greater Washington
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  • Home
  • About Us
    • History
    • Board of Directors
    • Staff
    • 2024 Annual Report
    • Contact
    • Newsletter sign up
  • Learn
    • Loan Guidelines
    • FAQ
    • Testimonials
    • Loan Repayment
    • Local Resources
    • Housing Resources
  • Apply Now
    • Traditional Loans
    • Guarantor Form
    • Loans for students
    • Jewish Communal Employee Loans
  • News
  • Donate

Apply Now:
​Loans for Students

Overview
The Hebrew Free Loan Association of Greater Washington (HFL) (Lender) is proud to provide zero-interest loans to qualified Jewish borrowers (Borrower) in the DC metro area. Please read the full loan guidelines here.

Loans to students are a maximum of $15,000. ​Loans to student are paid to the borrower in two equal installments one year apart, assuming the borrower is still enrolled in school; the first half of the loan is provided at closing and the second one year later. This type of loans is available to full time undergraduate students who are juniors or seniors or to graduate students.
​
Payment Terms 
Loans to student are paid to the borrower in two equal installments one year apart, assuming the borrower is still enrolled in school; the first half of the loan is provided at closing and the second one year later.

​Repayment: Loan repayments begin on the first of the month after funds have been disbursed.
​Repayment amounts for loans to students:
  • Loans of $5,000: $25/month for 25 months, $175/month thereafter
  • Loans of $10,000: $50/month for 25 months, $245/month thereafter
  • Loans of $15,000: $50/month for 25 months, $400/month thereafter 
Guarantors
All loans require guarantor(s) to co-sign on the loan. A borrower (or their spouse) cannot serve as a guarantor on their own loan. 
​
  • Loans up to $10,000: 1 guarantor
  • Loans over $10,000: 2 guarantors

Guarantors must meet the following criteria:
​
  • Income of at least $70,000
  • At least one must be Jewish
  • Each must complete the guarantor form in full
  • It is preferable for at least one guarantor to reside in the DC Metro Area but not required
Application Process
  • Loan applications are considered complete once you and your guarantor(s) submit fully completed applications
  • Once loan is complete, you will be contacted to schedule a phone interview
  • Following your interview, your application will be presented to the Executive Committee for review and approval
  • If the loan is approved, you and your guarantors must sign a promissory note which is done electronically via DocuSign
  • Disbursement of funds usually take places within 2 business days of loan documents being signed.

Application Form

Hebrew Free Loan Association of Greater Washington

P.O. Box 2752
Silver Spring, MD 20915
Phone: (301) 859-0346
​Email: [email protected]

​​Tax ID: 53-0227814
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