Debt Repayment

Entrepreneurs: You may qualify to have part of your student debt repaid.

To support Jewish entrepreneurship in Michigan, Hebrew Free Loan Detroit (HFL) and the William Davidson Foundation Centennial Fund are repaying portions of some interest-free student loans granted through the William Davidson Jewish College Loan Program (WDJCLP).

If you are the owner of a Michigan business and have WDJCLP loan debt, you could have up to one year of your remaining loan balance forgiven (maximum $7,500 for undergraduate loans, $10,000 for graduate loans).

Do I qualify for loan repayment?

To qualify, an applicant must:

  • Be a Michigan resident
  • Be at least 5 years past graduation
  • Be a majority owner of an active and sustainable for-profit business, which has been operating for at least one year
  • Have been making regular monthly payments to HFL on their WDJCLP loan since graduating
  • Employ at least 1 full-time employee in their business (or 2 part-time employees working at least 10 hours per month)

Think you may qualify? Contact HFL today.

Contact HFL Executive Director David Contorer at dcontorer@hfldetroit.org.