Day School Teachers Housing Loan Program
The Hebrew Free Loan Society has supported day school education for over fifty years. In 2000, we reassessed how we could most effectively support the day school enterprise. Rather than continue lending directly to day schools, our Board, in October, 2000, voted to initiate a program to fund down payment and closing costs for moderate-income day school teachers purchasing homes. This program responds to the well documented under-funding of the day school system, which translates first and foremost into inadequate salaries for teachers. Low salaries mean teachers are typically unable to save for and purchase a home, the only way a family of modest means can create a significant asset. The Housing Loan Program not only makes a critical difference in many teachers’ ability to purchase a home, but also affirms the value the community places on professionals who devote their live to Jewish education and, we hope, will become a critical teacher retention tool.
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