Amy* is a young Jewish woman who was raised by a single mother. Amy’s father never contributed a penny towards her expenses, leaving her mother a substantial financial burden. Amy was in college when she heard about a program that provides interest-free loans to Jewish women living in Greater Boston. She applied to the Max C. Rosenfeld Loan and Scholarship program and received $4,000 a year, interest-free, for the next three years, totaling $12,000.
Amy went to law school next, and she received another $5,000 for her law school education. Upon her graduation, she worked out a repayment plan, paying just $50 per month. This continued for about two years, until she found herself working for a prestigious Boston law firm where she was earning a sizeable salary. Shortly thereafter, Amy wrote out a check to pay off the balance of her interest-free loans – roughly $16,000. “Without those loans,” says Amy, “I would not have been able to take my education – and my earning potential – to a higher level.”