Education Loans

Hebrew Free Loan is proud to be able to help with all types of education expenses.

William Davidson Jewish College Loan Program

Description: Thanks to the generous support of The William Davidson Foundation, WDJCLP provides interest-free loans to Jewish students across Michigan for study at accredited institutions located in Michigan. These loans can be used for full-time study at colleges, universities, and graduate schools that lead to an undergraduate or graduate degree. While a student is attending a program full-time, payments are $100 per year.  Monthly payments begin six months after the date of graduation and continue, on a graduated basis increasing over time, for ten years.

Maximum Loan Amount Available: $7500 per year for undergraduate students and $10,000 per year for graduate students

Co-Signer Requirement: 2 qualifying Michigan co-signers (usually the student’s parents)

Co-Signer Requirements:

  • You must be a current Michigan resident.
  • You must be employed or have investments or savings.
  • You may be a previous borrower in good standing.
  • You may co-sign on more than one WDJCLP loan at a time. However, HFL reserves the right to determine the number and amount of co-signed loans.
  • You must complete a co-signer application and provide a copy of your driver’s license. Hebrew Free Loan will call you to verify your information and confirm your commitment.

Who Cannot Sign:

  • A person who currently has a loan with JELS or WDJCLP.
  • A person on a fixed, limited income (such as Social Security and/or pension), unless other investments or savings are available.
  • Professionals employed by any agency in the Jewish community. This includes rabbis, cantors, Jewish agency executives and staff, and Jewish day school teachers and staff. Some exceptions may apply.
  • Persons in active military service.
  • If the student is married, his or her spouse may not act as a co-signer on the same loan.

Personal Education Loans

Description: These loans are available to help pay for college or professional courses, training, academic programs abroad and many other types of educational programs.  Monthly payments on these loans begin the month after loan disbursement. 

Maximum Loan Amount Available: $10,000

Co-Signer Requirement: 2 qualifying Michigan co-signers

Eligibility Requirements

Hebrew Free Loan personal loan applicants must be Jewish, at least 18 years old, and have permanent residency in Michigan. Applicants must demonstrate both the need for the loan and the ability to pay it back within the timeframe established by Hebrew Free Loan.

Loan Process

The first step to applying for a Hebrew Free Loan personal loan is to submit an online application to the best of your ability. If you are unable to access our online application or need assistance, call Hebrew Free Loan at 248-723-8184. Once your application is submitted, a staff member will schedule an interview with two members of Hebrew Free Loan’s board of directors. You (and your spouse, if applicable) will be asked to provide a copy of your current driver’s license. If your loan request is approved, you, your spouse and your co-signers will be required to sign a promissory note.

Loan Repayment

Monthly payments on Hebrew Free Loan personal loans start 30-45 days after the loan is issued. Payment terms are discussed and finalized during the loan interview with Hebrew Free Loan’s board members. Loan payments may be made by automatic, monthly deductions from your checking account or by check or cash delivered to the Hebrew Free Loan office in person or by mail.


Hebrew Free Loan does not disclose your personal information to anyone, except as permitted by law and/or as authorized by you. We continue to adhere to this privacy policy after your loan account has been closed. However, Hebrew Free Loan may discuss your loan payments with your co-signers at any time. All members of Hebrew Free Loan’s board of directors are also bound by this confidentiality policy.

Everyone at Hebrew Free Loan was incredibly kind, and now we have Pearl.

- Rachel and Aaron Schwartz, who received a personal loan from HFL to pay for in vitro fertilization.