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‘An Incredible Deal’ That Enables Enrollment

LRAP News October 26, 2021

 

Disbelief.

That’s what Aaron T. and his parents felt when they first heard about the Loan Repayment Assistance Program (LRAP) offered to him by an institution on his college list.

“We couldn’t believe how good of a deal it was. In fact, I reread the contract over and over again. There’s no downside to it. It’s an incredible deal. They couldn’t believe it, and neither could I.”

LRAPs – a financial safety-net for students – have been used by more than 200 institutions across the United States to improve access and enrollment.

LRAPs help students like Aaron who are afraid of being burdened by student loan debt after graduation by helping to repay:

  • Federal student loans.
  • Parent PLUS loans.
  • Private alternative loans.

Armed with the peace of mind provided by LRAP, Aaron started at his new university. He remembers moments where he felt overwhelmed, wondering if he had made the right decision to invest in a college degree.

“I had previously switched schools twice. It would have been easy for me to do it again. [But I knew if I stuck] with it, then I [could quality for] LRAP, too. LRAP was a big factor in keeping me on course.”

However, Aaron says the best part about LRAP is the freedom it gives you to choose your career.

“LRAP lets you consider all your options. Without LRAP, you may miss opportunities that you wouldn’t have even considered before.”

Want to learn about how LRAPs work for institutions? Check out these case studies.