Raise Your Own Loan Program
-PLEASE NOTE: THE RAISE YOUR OWN LOAN PROGRAM IS CURRENTLY PAUSED UNTIL FURTHER NOTICE-
YOU’VE TAKEN THE FIRST STEP!
Thank you for your interest in the Raise Your Own Loan Program! We’re glad to see that you’re not giving up and we pray that Allah blesses you with ease and rewards your efforts.
Below are all the details of the program:
1. WHO CAN APPLY?
Any student who is pursuing their education in the US and has a completed and submitted application with ACC can register in the Raise Your Own Loan program.
2. HOW DOES IT WORK?
Raise your loan through crowdfunding:
- FACEBOOK: Create a Facebook Fundraiser under ACC’s Facebook page here: Fundraise with ACC on Facebook.
- LAUNCHGOOD: Create a Launchgood page under the ACC Community here: Fundraise with ACC on Launchgood
MAKE SURE TO TELL YOUR STORY
If there’s one thing that our donors have cared about, it’s the story of the students they have helped. So if you’re comfortable, try to share why you need this loan, how you were led to ACC and why this cause and their support is not only going to make a difference in your life, but in the lives of many students like yourself!
For your reference here are some statistics you could share in your fundraiser description about ACC and the student loan debt crisis.
3. VIA CHECKS: Have friends and family mail a check to us at 7035 Nueces Dr., Irving, TX 75039. Make sure the memo states your name clearly and is payable to A Continuous Charity Foundation.
4. VIA A DEDICATED LINK: Supporters can donate via a unique link for you on our donation platform. If you wish to use this route let us know and we can send a unique campaign link just for your use.
Whatever you raise upto $5000, A Continuous Charity will match as an interest-free loan to you.
For example, you need $12000. Your friends & family help you raise $6000.
We will match upto $5000 to give you a total of $11000 as an interest-free loan.
3. HOW DO I GET THE FUNDS?
- Any funds that come in through the channels mentioned above and are clearly indicated for you will be allocated towards your tuition as an interest-free loan.
- They will be loaned out to you after a contract has been created and signed that will indicate the amount, repayment terms and duration of the loan.
Will the funds be given to be as a grant or as a loan?
Any funds raised through the platforms mentioned above will be loaned to you interest-free. A contract will be created between yourself and A Continuous Charity and you will be required to pay it back based upon the terms agreed. Our team will take your financial circumstances into consideration before agreeing on those terms. Our repayment periods are usually 4 years.
If I am only able to raise a portion of my needed loan will ACC cover the difference?
We will match any funds up to $5000 in interest-free loans. In some unique circumstances we have been able to cover the difference in what a student has raised and what they need, however this is not something we can guarantee and is a very rare occurrence.
I like the idea but I don’t think this program is for me, do I have another option?
That’s okay, we are still here to help you with resources if you’d like to raise funds locally within your own community. You can begin by reading this article by Heidar Albandar from ACC’s Pennsylvania Chapter: It’s Not As Hard As You May Think To Get An Interest-Free Loan
What if I have already been granted a loan from ACC, can I still participate in the RYOL program?
Yes, you certainly can!
If you are able to raise more than what we have agreed to offer you as a loan, you will get that total amount as a loan.
If you raise less than what we have offered you, the amount will go towards your loan, and helping other students like yourself in the future.
If you still have a question feel free to reach out to us at email@example.com