The Charlotte Jewish News- March 2026- Page 20
As College Costs Climb, Interest-Free Loans Offer a Lifeline to Jewish Students
By Elizabeth Johnson
For many Jewish students, the question is no longer whether to pursue higher education, but how to afford it without graduating under long-term debt.
That is where the Jewish Educational Loan Fund( JELF) steps in. The organization has opened applications for the 2026 – 2027 academic year, offering interest-free loans to students pursuing college, graduate school, or vocational programs. The application window runs through April 30, 2026.
In 2025, JELF distributed $ 2.3 million in zero-interest loans to 500 students across the Southeast. Of those recipients, 21 were Jewish students from Charlotte, who received a combined $ 92,438 to help cover education and living expenses.
JELF occupies a singular place in the Jewish philanthropic landscape. It is the only Jewish organization in the United States
devoted exclusively to interest-free educational loans. Since 2015, it has provided 3,864 loans totaling $ 17 million across five states, maintaining a 99 % repayment rate for two decades.
For Charlotte applicants, the process begins close to home. JELF partners locally with Jewish Family Services( JFS), which reviews applications and provides local context before forwarding them to JELF headquarters in Atlanta for final consideration. The model allows financial decisions to reflect both regional resources and local community relationships.
“ JELF’ s thoughtful approach reflects the very best of how Jewish communities care for one another,” said Howard Olshansky, executive director of JFS.“ By pairing local engagement with a sustainable, interest-free loan model, we help students pursue education with dignity, without the added burden of interest-based debt.”
Unlike traditional financial aid, JELF loans can be used not only for tuition but also for rent, food, books, and travel. Applicants must be enrolled full time in a degree-granting program, be in good academic standing, hold U. S. citizenship or lawful immigration status, and provide a U. S.-based cosigner. Students are also expected to accept available federal subsidized and unsubsidized loans as part of their overall aid package.
JELF’ s revolving loan model means that every dollar repaid goes on to support the next student. As Board Chair Richard Peretz has noted in a recent press release,“ Education is the foundation of a strong Jewish future.
Every dollar we lend becomes a degree earned, a career launched, a leader shaped.”
At a moment when student debt affects more than 45 million Americans, interest-free lending offers a meaningful alternative. For Charlotte students, the partnership between JFS and JELF helps keep higher education both possible and financially sustainable.
The application is open through April 30, 2026. For more information or to apply, please visit jelf. org / app.