CHICAGO–(BUSINESS WIRE)–Northern Trust and Self-Help Federal Credit Union (Self-Help) announced today a $5 million investment to fund loans to Deferred Action for Childhood Arrivals (DACA) students who are attending or have been accepted to medical school.
DACA was created by presidential order in 2012 to protect undocumented immigrants who were brought to the U.S. as children, obeyed the law once here, and stayed in school or enlisted in the military. However, undocumented immigrant students remain ineligible for traditional sources of student loans provided by the federal government.
“This investment will benefit talented young people who have been accepted to medical school but do not have access to traditional sources of student loans,” said Connie Lindsey, Northern Trust’s Head of Corporate Social Responsibility and Global Diversity, Equity & Inclusion. “This is an impactful and innovative way to provide access to capital and increase the diversity of those who practice medicine, and we are pleased to lend financial support for this effort.”
“Thousands of DACA recipients serve on the front lines of health care and other essential services, but often students are ineligible for federal financial aid. Providing affordable, low-cost financing options for these students fills a critical void,” said Rudy Media, president of Second Federal, a division of Self-Help Federal Credit Union. “Expanding access to low-interest loans helps students…
