New Economy Project launched the NYC DREAMer Loan Fund in 2012 to provide financial support to Deferred Action for Childhood Arrivals (DACA) applicants in NYC.
By making no-interest loans to cover DACA application fees, the loan fund ensures that financial need does not prevent eligible immigrant New Yorkers from receiving the benefits of DACA, including work permits and protection against deportation.
As of November 2016, the loan fund supports DACA-eligible New Yorkers who are applying for DACA Renewal, Advance Parole, or other forms of immigration relief.
How it works
New Economy Project works with dozens of nonprofit organizations that provide DACA-related screening and advice. These organizations can advise individuals about about potential benefits and risks associated with renewing DACA, or applying for Advance Parole. They can also refer individuals to our zero-interest loan fund.
DREAMer Loan features include:
- Loans to cover DACA Renewal or Advance Parole fees (other applications may be covered; contact us to discuss)
- 0% interest rate
- Low monthly payments spread over one year
- $20-$25 loan processing fee
New Economy Project has partnered with Lower East Side People’s Federal Credit Union and Brooklyn Cooperative Federal Credit Union to make DREAMer Loans. Borrowers receive free savings accounts and a $25 savings bonus from New Economy Project when their loans are repaid. The credit unions also offer free tax preparation, financial counseling and other services to support DACA recipients and their families over the long term.
To learn more, please email us or call 212-680-5100.