Newberry College Loan Repayment Program Garners Media Attention

Lisle, IL | Congratulations to LRAP partner institution, Newberry College (Newberry, SC) for having its loan repayment program, the Newberry Loan Repayment Promise, featured by regional media in South Carolina.

In the story, President Maurice Scherrens praised LRAP as a way to stand behind the quality education that Newberry College already provides, and in so doing increase enrollment: “We, in essence, are betting on the belief that by offering something like the Loan Repayment Promise, that we’re going to have more students get involved.”

The first institution in South Carolina to offer a loan repayment assistance program (LRAP), Newberry College promises to reimburse graduates for student (and parent) loan payments if they’re earning a modest income after graduation. The program will be offered to incoming freshmen and transfer students starting Fall 2016.

The program is already a win-win—not only for college administrators, but for Newberry students alike. Take for instance freshman Lauren Lopez. The first in her family to attend college, Newberry’s Loan Repayment Promise helped make the idea of borrowing student loans more palatable, and eventually led to her decision to enroll: “It helps me pursue my dream with confidence. It really does. It’s like, ‘Okay. When I get out of here, it’s going to be okay.’ I’ll have someone who has my back on helping me to pay, I don’t have to worry about if I can afford after I get out of college to pay back my student loans.”