Stipends
Students who spend the entire academic year in Israel are, as of September 2016, entitled to a living stipend of $15,000. Students who receive a waiver to spend only 18 weeks may receive a stipend of $7,500 for their Israel semester. A limited number of summer study stipends are available.
Students who spend the entire academic year in Israel are, as of September 2016, entitled to a living stipend of $15,000. Students who receive a waiver to spend only 18 weeks may receive a stipend of $7,500 for their Israel semester. A limited number of summer study stipends are available.
Financial Aid
MASA
MASA offers grants of $4500 or needs based scholarships of up to $7500 to all non-Israeli JTS Year-in-Israel students between the ages of 18-30, who have not previously received funds from them or participated in a MASA program. Please see www.masaisrael.org for information and application form. When filling out the form, please be sure to fill in the section where it asks about additional scholarships that you are receiving.
Should you be allotted a MASA grant/scholarship, the funds are transferred directly to Machon Schoken and will be applied to your tuition and registration costs. We therefore advise you to complete your MASA application and email it as soon as possible so that your JTS financial package can be assessed correctly. Should your MASA grant/scholarship exceed the amount you owe in tuition/registration, the excess funds will be disbursed to you.
NOTE: Funds will not be disbursed until November or December. One quarter of the funds are disbursed then. Another quarter is disbursed in the spring semester. The final half is disbursed the summer after completing the program.
OTHER ASSISTANCE
Student have found the following resources to be helpful when seeking financial aid:
· Your home synagogue
· Sisterhood/Brotherhood of your home synagogue
· Your local B'nai B'rith
· Your local Jewish Federation and Jewish Free Loan Association www.jfla.org
· National Council of Jewish Federations ("FEREP" scholarships) www.jfna.org
· Rotary Clubs
· Jewish Vocational Service
· JCC Association
· www.hillel.org - type "scholarship" in the search box to access their scholarship database
· www.petersons.com
· www.FastWeb.com
· www.mappingyourfuture.org
MASA offers grants of $4500 or needs based scholarships of up to $7500 to all non-Israeli JTS Year-in-Israel students between the ages of 18-30, who have not previously received funds from them or participated in a MASA program. Please see www.masaisrael.org for information and application form. When filling out the form, please be sure to fill in the section where it asks about additional scholarships that you are receiving.
Should you be allotted a MASA grant/scholarship, the funds are transferred directly to Machon Schoken and will be applied to your tuition and registration costs. We therefore advise you to complete your MASA application and email it as soon as possible so that your JTS financial package can be assessed correctly. Should your MASA grant/scholarship exceed the amount you owe in tuition/registration, the excess funds will be disbursed to you.
NOTE: Funds will not be disbursed until November or December. One quarter of the funds are disbursed then. Another quarter is disbursed in the spring semester. The final half is disbursed the summer after completing the program.
OTHER ASSISTANCE
Student have found the following resources to be helpful when seeking financial aid:
· Your home synagogue
· Sisterhood/Brotherhood of your home synagogue
· Your local B'nai B'rith
· Your local Jewish Federation and Jewish Free Loan Association www.jfla.org
· National Council of Jewish Federations ("FEREP" scholarships) www.jfna.org
· Rotary Clubs
· Jewish Vocational Service
· JCC Association
· www.hillel.org - type "scholarship" in the search box to access their scholarship database
· www.petersons.com
· www.FastWeb.com
· www.mappingyourfuture.org
Banking in Israel
Opening up and maintaining Israeli Banks is generally expensive and they charge miscellaneous fees. However, Bank HaPoalim does open student accounts for free - just visit a branch (there is one on Ben Yehuda street) and bring your passport, drivers license, social security number, and a letter from your program of study.
Other options:
-Open a Schwab bank account for free in the U.S. and they don’t charge any ATM fees for international withdrawal.
-Open a CapitalOne credit card account - they don't charge international fees on transactions.
-Umbrella Bank: An American on-line bank, with no charge for taking money out at ATMs in Israel, up to four times a month: www.umbrellabank.com
- Commerce Bank: An American bank based on the east coast, it offers free ATM withdrawals overseas: http://www.commercepc.com/
Some advice for using US-based accounts:
· Any ATM card with a Cirrus, Plus, or STAR System should work in Israel.
· Any ATM/debit card with a Visa logo is accepted at any bank in Israel.
· Check with bank or credit card company regarding credit card fees.
· Internet access to your account will prove invaluable.
· Mastercard ATM cards will only work at a limited number of banks
· Arrange to pay your credit card bills and check your account online.
· Be sure to bring phone numbers of your banks and credit card companies.
· Leave deposit slips, as well as all account information with someone at home, so that s/he can access it in case of emergency.
· You will not be able to access money from savings accounts.
· Take out large sums at once in order to avoid many withdrawal fees.
Other options:
-Open a Schwab bank account for free in the U.S. and they don’t charge any ATM fees for international withdrawal.
-Open a CapitalOne credit card account - they don't charge international fees on transactions.
-Umbrella Bank: An American on-line bank, with no charge for taking money out at ATMs in Israel, up to four times a month: www.umbrellabank.com
- Commerce Bank: An American bank based on the east coast, it offers free ATM withdrawals overseas: http://www.commercepc.com/
Some advice for using US-based accounts:
· Any ATM card with a Cirrus, Plus, or STAR System should work in Israel.
· Any ATM/debit card with a Visa logo is accepted at any bank in Israel.
· Check with bank or credit card company regarding credit card fees.
· Internet access to your account will prove invaluable.
· Mastercard ATM cards will only work at a limited number of banks
· Arrange to pay your credit card bills and check your account online.
· Be sure to bring phone numbers of your banks and credit card companies.
· Leave deposit slips, as well as all account information with someone at home, so that s/he can access it in case of emergency.
· You will not be able to access money from savings accounts.
· Take out large sums at once in order to avoid many withdrawal fees.