LRAP is an enrollment tool that positively impacts enrollment decisions. LRAP (Loan Repayment Assistance Program) helps colleges and universities enroll and retain students who may feel college is unaffordable, by resolving the fear of loans and student debt.
If a student’s income after graduation is modest, LRAP helps repay their educational loans. The program covers federal loans, private alternative loans and parent PLUS loans. LRAP enables prospective students to attend their first-choice colleges without worry, and provides a safety-net allowing them to pursue their desired career after graduation.
LRAP is proven to influence enrollment decisions. Research conducted by the University of Michigan found that 74% of student enrollment decisions were positively impacted by LRAP, among those with knowledge of their award.
LRAP provides a powerful response to students and families who question their ability to afford college. The program helps assure students of their freedom to follow their educational and career ambitions, while helping colleges maximize enrollment, retention and completion. If a student graduates to earn a modest income, LRAP helps repay federal, private alternative and parent PLUS loans.
Colleges partner with LRAP Association to customize and implement the program to fit their strategic objectives.
Colleges select which students to provide LRAP (e.g., all freshmen and/or transfers, targeted groups or selected students), at no cost to the student.
LRAP provides hands on assistance to partner colleges and their students throughout the enrollment cycle, and life of the program, to ensure success.
Once students matriculate, partner colleges are invoiced after the census date for each year that each LRAP student enrolls and borrows. No fee is charged otherwise.
Upon graduation, LRAP works directly with eligible graduates to help repay their loans, either until they reach a point of financial stability, or their loans are repaid entirely.
LRAP can be customized to meet the needs of both the partner college and their students. Colleges can choose to use LRAP on a case-by-case basis for select, individual students (including retaining current students who have yet to start their sophomore term), with targeted subpopulations, and/or make it available to all incoming students, including transfer students. Colleges are then able to attract and retain students who might otherwise feel compelled to pursue their education elsewhere, or not at all, due to financial concerns.
Provide to all freshman and/or transfers who borrow, to maximize your benefits.
For instance, low-yield and low-discount cells, geography, majors, socioeconomic groups, legacies, fence-sitters.
Applicants concerned about loans, value, outcomes, and similar issues.
"It’s every college student’s dream to land a meaningful job after graduation, one that utilizes their strengths and education. Repaying student loans adds significant pressure, and we want to provide our students and families with peace of mind."
- Dr. Sheldon C. Nord, President, Corban University
“If it had not been for LRAP, I know for certain I would either be at a different school or working a dead-end job right now.”
- Stacey, LRAP Student
“We believe our students can go on and earn great salaries and may not even need this support later but we want it to be there and help them feel like the investment in this education has a long-term payoff that will be of great value.”
- Dale Seipp, Vice President for Enrollment and Marketing, Warner Pacific College
“It gives our family a sense of reassurance that a college education is financially possible, especially since my son is the first in the family to go away for college.”
- Christina, LRAP Parent