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EDUCATION LOAN APPLICATION

Thank you for your interest in an education loan from Hebrew Free Loan of Austin.

Please make sure you read through the following details of our Education Loan Program.

Student Applicant Requirements

  • Juniors and Seniors only with a 2.5 GPA

  • Post grad applications will be considered with an acceptance letter to graduate school

  • Must be taking at least 12 credit hours per semester unless they are a senior and  need less to graduate. All courses to be going towards their completion of the degree. 9 credit hours is acceptable if you are working.

  • Any accredited university or community college is acceptable. It does not have to be in Texas if the student is a resident of Austin when applying. We will not consider the field of study when providing a loan.

Details of Loans​

  • Maximum loan amount of $20,000 total over 2 years with a $5,000 maximum loan amount  per semester per student

  • The loan must be used for tuition, fees, books, supplies, room and board and travel expenses related to school.

  • Requires 1 guarantor for first $10,000 (two $5,000 loans maximum) and a second guarantor after that

  • Payment of $50 monthly, to begin 30 days after the first loan closes. Paid by student through an ACH.

  • Loan payment to begin up to 120 days after graduation. The $50 monthly payments will continue until the full loan payments begin . There will be a 4-year payoff of the total amount borrowed minus the sum of the monthly payments.

 

This information will be kept secure and highly confidential. If you have any questions or hesitations about providing this information, please reach out to us at loans@hfla.org.