Two-thirds of the loan provided to students will come with stipulations, with NIS 5,000 earmarked solely for living expenses.
"We are aware of the situation many of our students from all sectors have encountered. We decided to carry the loan interest rate burden, which will help [our students] succeed in the coming months and give them peace of mind, with a view [towards] continuing their academic studies," said Ranan Hartman, Founder and CEO of the college.
"At the same time, the administrative staff is doing nights, trying to help as much as possible all students with their academic content, distance learning in courses on all campuses, and enriching lectures. We instructed the deans and the academic staff to take maximum care of the needs of the students and make available academic and emotional support systems for them, " added Hartman.
Chairman of the Ono Academic College Student Union, Elhanan Pelheimer, also commented on the decision, saying that "Even from the beginning of the crisis, the Ono Academic Student Union and Community College acted as a strong and supportive family to help students. In difficult times, mutual guarantee is very important. "
The Ono Academic College is the largest private college in Israel with 15,000 students, and campuses in Kiryat Ono, Haifa, Netanya, Or Yehuda and Jerusalem.