The Rosenbaum Aliyah Incentive Fund (RAIF) was established to assist graduates of the schools of Yeshiva University who have made Aliyah, in the payment of their education loan debts. For eligible graduates, it provides assistance in repaying loans taken for payment of tuition at Yeshiva University. Payments for eligible graduates are made annually. Assistance is limited by the availability of funds and may be offered in amounts up to the following maximums:
- For those who took out loans to finance undergraduate study, eligible graduates can receive up to $1,000 per year with cumulative maximum of $10,000.
- For those who took out loans to finance graduate study, eligible graduates can receive up to $2,000 per year with a cumulative maximum of $20,000.
- The maximum time one can participate in the program is ten years.
The terms and conditions include:
- Application for RAIF will be accepted only from those who have spent at least two years as an Oleh in Israel.
- RAIF is available only for loans taken out for study at Yeshiva University and affiliated schools only, i.e., Yeshiva College, Stern College for Women, Sy Syms School of Business, Albert Einstein College of Medicine, the Wurzweiler School of Social Work etc.
- Loan payment to date must be current to receive funding from RAIF. Funding is not available to repay back debts or past due amounts.
- Money will be paid directly to the lending agency. Grant recipients are urged to check their records on line to ensure that payment was properly credited.
- Applications and re-applications must be submitted in Israel by September 30 in order to be considered for a grant that year. The application will be processed in Israel and forwarded to the U.S. for payment.
- A RAIF payment is not a cancellation of the loan, nor does it relieve you of the responsibility to repay the remaining portion of any loan.
- Eligibility for RAIF is limited to: “Olim Chadashim” only. Ezrachim Olim, Ktinim Chozrim and Toshavim Chozrim are not eligible.
For additional information, full eligibility requirements and to receive an application, contact:
Yeshiva University Israel Alumni – RAIF
40 Duvdevani Street