HOW ACC WORKS!
We’re passionate about solving the interest-based student loan crisis.
We use public donations to fund our students all over the country. Here is the progress we’ve made so far since we started in 2013.
# of Students
Explanation of the Loan Process
- Funds are generated from local community fundraisers, sponsors, and investments. These funds are distributed based upon merit, need, community involvement, Islamic awareness, and location.
- A priority will be given to students applying in areas where local fundraising has been done. We call this “local investing with local rewards.” This program will reward communities for their generous donations by giving their qualified students a priority during distribution.
ACC Will Provide Interest-Free Loans to:
- Students who are starting their higher education
- Students who started their higher education but need more financial support to complete their degree
- Graduates who have finished their higher education but have unpaid interest-based loans
Where Are Our Chapters?
We are constantly adding more and more chapters all across the country. Currently ACC has chapters in 4 states: Ohio, Michigan, Florida, & Minnesota.
If you are interested in starting an ACC chapter in your area, contact us to get started.
Giving interest-free loans to students has given us a taste of what it’s like to be free from interest. Every student we’ve helped has a story worth sharing.
When 100k donors donate $10 a month for 10 months, we will have an endowment fund of $10M. Our plan is to:
- Invest 10M into a fund that will generate modest ROI (Return on Investment) of 5%
- The $10M will then be distributed in 5 years at $1M a year with the remaining amount continuing to grow a 5% ROI.
- Our loan payback policy of four years ensures us that an average of 25% will be returned each year. The $10M endowment will continue to grow with the income from that being put back into financing more students’ education.
- Our Projected Endowment ROI graph shows that after Year 3, ACC will continually be in a position to loan out over $5M annually to students in America interest-free.
- Our Projected Endowment ROI graph displays the total amount loaned out aggregated over a 20-year period; the number is quite staggering. After 20 years, ACC would be in a financial position to loan out a projected amount of $46.61M.