Qard Hasan Foundation is a Federal 501(c)(3) Tax-Exempt Public Charity. The goal of the Qard Hasan Foundation is to provide interest free loans for post-secondary education to Austin area Muslim students and to help them achieve their goals and become productive members of society. The money for the loans will come from ongoing contributions (Sadaqah) to the Foundation by local Muslim community me
mbers and others. As the loans are repaid, those funds will also help fund additional loans. Our hope is that the students who receive loans will go on to become contributors to the Foundation, helping to fund loans for our future Muslim college students. The Qard Hasan Interest-Free College Loan Program was designed so that it is Sadaqah Jariyah, a Perpetual Charity. Donations are not just used to loan money one time to one student. The program is designed so that when borrowed money is paid back, that money is loaned again, and again, and again to other deserving Muslim students. The students that borrow money from the Qard Hasan Foundation only pay back the exact amount of money that was loaned, no more. Qard Hasan Foundation is an interest free organization and no-interest loans means no-interest, as well as, no application fees, no filing fees, no management fees, and no processing fees. There will be no fees of any kind for any of our loan applicants or borrowers.
