Ehrlich Student Loan Program
About the Ehrlich Student Loan Program
The Shirley Ehrlich Student Loan Program provides subsidized, low interest educational loans to students in the metropolitan Chicago Jewish community. The Ehrlich Student Loan Program is made possible by a generous bequest from Mrs.. Shirley Ehrlich to the Jewish United Fund/Jewish Federation of Metropolitan Chicago
Loan Details
The Ehrlich Student Loan program subsidizes the loan while you are enrolled as a full-time student in an accredited undergraduate and graduate program.You'll make no payments nor accrue any interest payments on your loan while you are in school.
- You can borrow up to $5,000 a year, up to a total of $20,000
- You qualify for low interest rates upon repayment (Rate: Prime - ¼ )
Eligibility
- To qualify for a loan you must be a Jewish resident of the metropolitan Chicago area
- You must be a full-time student pursuing undergraduate or graduate education at an accredited college or university.
- You must be able to document financial need by submitting your Student Aid Report (SAR) and other required documentation.
Application Requirements
- Apply with a credit worthy co-borrower
- Submit a loan application authorizing permission to conduct a credit check
- Submit all required forms to document financial need
Download the application (PDF) or call 312-357-4881 for more information.
Loan Maintenance Responsibilities
- Sign a promissory note*
- Keep the Ehrlich Student Loan Program informed of any changes in your address, as well as changes in your circumstances or academic plan
- Upon graduation (six-month grace period permitted)**, repay your Ehrlich Student Loan so that funds will be available to other students who require help
* Preference given to students applying with a creditworthy co-borrower. In a few exceptional cases, loans may be granted to applicants without a co-borrower.
** Loans convert to an up to ten year fully amortizing loan. Loans may be repaid in whole, or in part, without premium or penalty at any time.
*** Ehrlich Student Loans are not eligible for consolidation with government student loans.
Applications and all other information provided to the Ehrlich Student Loan Program will be treated with the strictest confidentiality.
