TORCH Revolving Loan Fund

Invest in the Potential of Northfield Youth

What is the TORCH Revolving Loan Fund?

TORCH (Tackling Obstacles and Raising College Hopes) has long focused on assisting under-represented students in closing the achievement gap and reaching their goals. For low-income and minority students, the obstacles do not end with their graduation from high school. A car repair, uncovered tuition, book costs, an unforeseen medical cost, a lab fee, or the cost of tools for a course can all result in a student not being able to continue with their coursework. The student then often drops out, now having debt without the skills or training to earn the income to pay off that debt.

The TORCH Revolving Loan Fund removes barriers that students may experience by loaning a small amount of money to students who are enrolled or will be enrolling in a post-secondary program. The loan does not require a cosigner, as that is often a barrier itself. A small amount of interest begins to accrue after the student has graduated or obtained a job.

The loan fund helps students who are:

  • Low-Income
  • Racial or Ethnic Minorities
  • First-Generation College Students
  • Young Parents
  • Continuing Their Education

How the loan funds are used:

  • Car repairs
  • Tuition
  • Books
  • Medical costs
  • Lab fees
  • Tools
  • and more!

The TORCH Revolving Loan Fund is already making a difference in students’ lives!

Past experiences WITH NO loan fund:

STUDENT A enrolled in the Dakota County Technical College auto mechanic program right after high school to pursue his dream to repair cars. On the second day, he dropped out of the program because they required an initial $600 investment in tools. Had the loan fund existed, he would have been able to continue his education and achieve his dreams.

Current experiences WITH the loan fund:

STUDENT B went to register for 2019 spring semester after taking time off from school. She learned that she had a $174 hold on her student account. While the amount seems minuscule, without the loan, she would not have been able to register for classes this semester, further delaying her return to college.

STUDENT C, a DACA student, chose to take fewer classes for spring semester to ensure success. As a result, he was not able to receive any financial assistance from the Dream Act and chose to pay for classes out-of-pocket. Due to this, he had to scramble to pay the $300 down payment before his classes were dropped. Without the loan, he would not have been able to take classes. Student paid the loan back within a week, as soon as he was paid by his job.

How to donate

Donations to the TORCH Revolving Loan Fund may be made by check or stock transfer to Northfield Healthy Community Initiative. This is a donation to a 501(c)(3) nonprofit organization; as a result the principal and interest does not return to the donor.

Please mail your donation to:

TORCH Revolving Loan Fund
c/o Northfield HCI
1651 Jefferson Parkway
HS 128
Northfield, MN 55057

For more information, please contact us!