Magbit Foundation was established in 1990 to promote education for students seeking to complete their University studies.
To accomplish this worthwhile goal, Magbit established an innovative “Interest-Free Loan” program for needy and qualified students.
The Magbit Foundation: Strengthening Support for Israel in Times of Need
In these challenging times, the Magbit Foundation reaffirms its commitment to making a tangible difference in the lives of those impacted by the adversities facing Israel. Our comprehensive campaign, "Israel at War," alongside the anticipation of the generosity to be showcased at the upcoming 2024 Magbit Gala, has gathered momentum in providing essential aid across several fronts. We are channeling 100% of all proceeds to empower and uplift the Israeli community through verified and impactful initiatives:
Adopting Families and Supporting Heroes: In the wake of the October 7th attacks, our focused efforts include direct support to the families bereaved and shattered. Going beyond temporary aid, we are adopting widows and orphans, pledging sustained support for a year or more, ensuring they have the means to rebuild their lives with dignity and hope. Similarly, our dedication extends to the valiant security forces and disabled veterans, offering tailored programs to aid their recovery and reintegration into society.
Humanitarian and Vocational Aid: Recognizing the multifaceted nature of need, we are intensifying our humanitarian outreach to Israelis in distress. Our initiatives now span from immediate relief to long-term empowerment, including vocational training and job placement services aimed at fostering resilience and self-sufficiency.
Medical and Mental Health Care: Our commitment to holistic well-being is evidenced by our expanded support for medical organizations. In addition to our existing services, we are now explicitly providing support for soldiers and survivors of terrorist attacks suffering from PTSD, complex grief, and trauma. This comprehensive approach ensures that no one is left behind in their journey towards healing and recovery.
Educational Empowerment: Education is a beacon of hope and a tool for future success. We are proud to continue our interest-free loan program, a testament to our belief in recycling generosity to benefit numerous students. Furthermore, we are now offering scholarships to soldiers and reservists of the IDF combat units, supporting their academic aspirations post-service.
Supporting Our Security Forces: Recognizing the sacrifices made by our security forces, we are dedicated to addressing their immediate needs and challenges. This includes providing comprehensive support for disabled war veterans, ensuring they receive the care and resources necessary for their dignity and well-being. While we may not directly mention all the groups we support, our commitment to these heroes remains unwavering.
A Call to Action: The Magbit Foundation invites you to join us in this crucial moment. Your support enables us to extend a lifeline to those affected by recent events and to foster a foundation for a stronger, resilient Israel. Together, with your generosity, we can offer more than aid; we provide a path to recovery, empowerment, and hope for countless lives.
UNITED WE SHALL PREVAIL.
Your involvement can change lives. Please consider contributing to our cause and being a part of this noble journey towards healing and rebuilding.
Am Israel Chai 🇮🇱
To date, Magbit Foundation has provided interest-free loans to over 15,000 qualified students.
Some of the schools we have provided interest-free loans and/or scholarships to are the University of Southern California, University of California Los Angeles, University of Texas at Austin, California State University Northridge, Bar-Ilan University, Jerusalem College of Technology and Haifa University.
The loan repayments go directly to the student’s university so that future generations of students may also benefit from these funds.
This program was designed to preserve the dignity and spirit of the students, as well as to instill in them a sense of responsibility. The loan recipients repay the loans when they are financially able to do so.
