Legacy Fund Form

Legacy Fund Form

Please fill the form below to start your Legacy Fund!


Legacy Fund Amount:

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Our applicant screening criteria is: (1) Scholastic merit (2) Islamic Knowledge (3) Community service (4) Need (5) Location.
ACC will review loan applicants on your behalf and select students based on the criteria listed above.
LOAN TYPE(Required)
ACC provides two different types of loans: 1) The standard student loan which is for students who need additional funds to continue their education and avoid interest. 2) The refinancing loan which provides an opportunity for those who have graduated and have an interest based debt. ACC would pay the principle of their debt so long as any and all interest charges have been paid by the applicant. ACC has found that diversifying our investments brings the highest level of satisfaction and moderate level of return. Currently, half of our recipients are standard student loans and the other half is refinancing. The family can choose to allow both types of loans (recommended), or choose the standard student loan. Please identify your choice:
There are operational costs associated with maintaining a Legacy Fund, such as Payment Processing, Loan Management, Accounting, Reporting, Tax filing & Administration (estimated at 10%). Please confirm below if you would like to include these as part of your initial donation or a separate donation.
Currently, all ACC contracts are a maximum of 4 years. This means that all loans must be repaid within four years of issuance. This length has given us tremendous financial success in getting students and graduates in and out of our system. Most refinancing recipients finish within 2 years while standard student loan recipients take the entire 4 years. Our goal in the future is to extend the term on our contracts if needed, inshaAllah. We do not allow families to alter this portion of the contract as it will affect the return of investment (ROI) on your fund. Thank you for understanding.
ACC will produce biographical and financial reports to update you on the difference that your Legacy Fund is making on the multitudes of students and graduates. Reports will include total initial investment, short biographical data on the students ACC has chosen, their contract due date, total number loans given, total dollar amount given, total amount donated from your alumni, etc. Reports will be made available to you on an ANUAL basis.
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