Project Spotlight: Magbit

The Magbit Foundation was established in 1990 to support our Israeli brothers and sisters. This assistance is provided under a unique concept; called "The Magbit Jewish Fund Students Loan Program." It is in the form of interest-free loans and scholarships granted to more than 500 students a year, studying at selected universities in Israel. However, the Magbit Foundation has also been there when Israel needed help on othe fronts. In 2004 Israel provided funds for victims of terrorism and their families.

 

To accomplish this worthwhile goal, Magbit established an innovative “Interest-Free Loan” program for deserving and qualified students. This program was designed to preserve the dignity and spirit of the students, as well to instill in them a sense of responsibility. The loan recipients repay the loans when they are financially able to do so. The loan repayments go directly to the student’s university so that future generations of students may also benefit from these funds.