metro >> on the cover New Opportunity For College Students $8 million grant from the William Davidson Foundation fuels Hebrew Free Loan College Loan Program. Vivian Henoch I Special to the Jewish News CONTINUED FROM PAGE 1 The Right Agency For The Job With the average cost of higher edu- cation closing in on $30,000 a year, students seeking financial assistance have become the norm. According to a recent study released by the Institute for College Access & Success, an estimated 62 percent of students in Michigan graduate in debt. Open to undergraduates, gradu- ate students and students going back to school later in life, the William Davidson Jewish College Loan Program replaces the community's existing Jewish Educational Loan Service (JELS) with a significant increase in funding available. As David Contorer, HFL executive direc- tor, explains, "Our community has pro- vided financial assis- tance for education since the '40s, but the William Davidson Jewish College Loan David Program takes HFEs Contorer service to a new level. We now have the critical dol- lars needed to reach out to students statewide and to double our capacity in terms of the students we can serve and the size of the loans we can provide. "The process itself will be seamless, from the user-friendly online applica- tion through the interview and assess- ment with students and their parents," Contorer adds. "And, because HFL is a holistic, full-service agency working with many partners in the commu- nity, we have the wherewithal and the infrastructure in place to patch our loan applicants into JVS, Jewish Family Service and other social service agen- cies when necessary:' To qualify for need-based, interest- free loans up to $7,500 per year, students are required to be Jewish Michigan residents who are U.S. citi- zens, enrolled full-time in accredited colleges or universities in Michigan (with some exceptions on a case-by- case basis). To be eligible for loans, applicants must document finan- cial need by completing the Free 12 February 20 • 2014 JN Application for Student Aid (FAFSA at www.fafsa.ed.gov) and pursuing all other available funding sources. Beyond defraying the cost of tuition, HFL interest-free student loans can be applied toward room and board, the purchase of textbooks, some travel and other college living expenses. Keeping Brains And Talent In Michigan "By reaching out to loan applicants across the state, we are delivering a powerful message says Michael Berke, HFL president. "We're saying to our Michael Berke young people that we want them here. We want them to graduate, to be eco- nomically self-sufficient and to thrive in Michigan. "And for students living out-of-state and thinking about coming home, this could sweeten the pot to help them get that graduate degree or establish their residency back in Michigan:' he adds. "We're driving home a clear message that resonates throughout the state, and it is consistent with the Jewish Federation's NEXTGen Detroit agenda, which is to attract and retain our next generation of professionals, scientists, engineers, doctors, lawyers, teachers and entrepreneurs:' It's an unparal- leled opportu- nity now, observes Harriet Orley, HFL board vice president and chair of the William Davidson Jewish College Loan Harriet Orley Program. "It's thrill- ing to see that we are making a long-term investment in students building their futures by help- ing them accomplish what they want to do in school. Our hope is to ease some of the heavy burden of college debt today. By providing supplemental loans — those 'last dollars in — we want to help our students cover some of those expenses that can make the difference between 'just getting by' and a fuller overall educational experience:' Building On Community Legacy The Davidson college loan program reflects the legacy of a vision- ary Detroiter and builds on the longstanding connection between the William Davidson Foundation and the Jewish community of Metropolitan Detroit. "Mr. Davidson had an entrepre- neurial spirit, valued educational advancement and supported a vibrant Jewish community," said Jonathan Aaron, president of the William Davidson Foundation. "Hebrew Free Loan's William Davidson Jewish College Loan Program is designed to help more Michigan-based Jewish students have access to higher educa- tion and to alleviate some of the costs and debt that often come with the pursuit of higher education degrees. "Ultimately, we hope recipients from this program will continue Mr. Davidson's passion to make Southeast Michigan's Jewish community a thriv- ing place to work and live:' Projecting that HFL will provide loan service to 250 to 300 students in the first year of the program, Berke noted that the William Davidson Foundation has made a lasting and dramatic impact with immeasurable benefit to the community. "We have a perfect marriage of supply and service delivery for the demand," he stated, emphasizing the high returns on investment. "We know for a fact that our loans are paid back — historically more than 99 percent over time. Even so, the Foundation and our partners in Federation have taken a bold step in launching a statewide program of this magnitude. "We may be in uncharted terri- tory here, as we only can estimate what the response will be. But we are ready — because our next genera- tion is calling. We are very proud and humbled to have the opportunity to serve them:' For information, go to www. jewishcollegeloansmi.org or con- tact Laurie Banks, director of the Davidson loan program, email info@ jewishcollegeloansmi.org or call (248) 723-8184. ❑ Young Social Entrepreneurs Are Eligible For Grants Young Jewish adults with a vision to create cultural, spiritual, educational, service and community- building projects for their peers can begin apply- ing for a 2014 Natan/NEXT Grant for Social Entrepreneurs. Applications will be accepted through March 7, and recipients will be notified in June. Grants of up to $10,000 each will be awarded to projects that demonstrate long-term potential to engage young Jewish adults. Since 2010, Natan and NEXT have awarded more than 21 social entrepreneur grants, total- ing $126,000. From new spiritual communities to a Jewish music festival to a create-your-own Haggadah website, past grantees have realized their dreams by creating and building start-up projects to help young Jewish adults explore Jewish life. Through its work with local Jewish communities and organizations across the country, NEXT under- stands the desire of Birthrighters to engage with Judaism in personal, authentic and meaningful ways. Potential applicants can learn more about the Natan/NEXT Grants for Social Entrepreneurs dur- ing NEXT's upcoming webinar on Feb. 27 at noon. RSVP by emailing grants@birthrightisraelnext.org . To apply for a Natan/NEXT grant and get addi- tional updates, visit www.birthrightisraelnext.org/ grants or visit NEXT on Facebook: facebook.com/ NEXTBirthrightlsrael. Challenge Detroit Accepting Applications Challenge Detroit, a national initiative focused on revitalizing Detroit by retaining and attracting top talent to the city, has launched year three of the program and is now accepting applications for 2014-2015 Fellows. Challenge Detroit provides the opportunity for talented individuals to live, work, play, give and lead over the course of a yearlong fellowship program. Fellows work with host companies four days a week and spend the fifth day partnering with nonprofits in and around Detroit on month-long challenges designed to positively impact the city and region. "The incredibly bright, ambitious and innovative thinkers we draw through Challenge Detroit have the potential to transform the city in lasting ways:' says Deirdre Greene Groves, executive director of Challenge Detroit. "The response has been over- whelming, and we can't wait to meet the city's next set of future leaders:' Challenge Detroit will select 30 innovative leaders from Detroit and across the United States. Those selected will engage in monthly team challenges, work at one of the top companies in the region, receive a $36,000 annual salary plus benefits typical of the host company, live in the city of Detroit, par- ticipate in a leadership development program, and receive benefits such as memberships to various organizations, discounts, event access and more. Host companies for year three include some of the region's most innovative corporations and nonprofits, including General Motors, CBS Detroit Radio, the Detroit Lions, the United Way of Southeastern Michigan and Crestmark Bank. Challenge Detroit is accepting applications until Sunday, March 9. The year in Detroit will begin in September 2014. For more information and to apply, visit www.ChallengeDetroit.org .