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Frequently Asked Questions


How much does LRAP cost?

Colleges pay an annual fee for each student who is covered by LRAP and borrowing. The precise amount of this fee is based on institutional characteristics specific to each college. There are no up-front costs to use LRAP. Instead, you only pay for the students who are enrolled (and borrowing) after your census date, making LRAP a uniquely low-risk way to influence enrollment.

To request a customized LRAP pricing quote and projected ROI for your institution, please fill out this brief form.

Why do colleges choose to partner with LRAP Association?

Colleges partner with LRAP Association because our program positively impacts enrollment decisions, and reinforces a commitment to students’ long-term success. College leaders appreciate LRAP for its ability to help institutions grow their enrollment and improve retention, as well as to shape their class and increase participation in specific academic programs.

How does LRAP work for students and families?

LRAP helps provide peace of mind so families can confidently support their students’ academic and professional goals—regardless of their current financial situation and future earning potential. LRAP helps repay all federal and private alternative student loans, as well as Parent PLUS loans. Reimbursements are paid directly to the graduate.

Benefitting from LRAP is simple:
  1. Students must enroll and graduate from your college.
  2. After graduation, students must begin working and making their loan payments.
  3. Graduates then request assistance from LRAP Association.
  4. Assistance is provided to graduates via quarterly reimbursements on their student and parent loan payments.
  5. LRAP assistance continues, either until graduates are earning more than the upper income threshold specified by their college, or until their loans are repaid entirely.
If you are a student or parent and would like to learn more about how LRAP works for you, please visit or email  

What types of students do colleges use LRAP to enroll?

LRAP helps enroll students who are reluctant to borrow.

LRAP is designed to be adaptable to fit the strategic initiatives of our partner colleges. Some schools offer LRAP selectively to secure “on-the-fence” students, or to a targeted group that aligns with their institutional goals (e.g., to out-of-state students). Others give LRAP to all incoming students to maximize the value they get from LRAP. The program is designed to put college administrators in the driver’s seat, allowing each college to customize their LRAP strategy to align with their current initiatives and strategic enrollment goals.

What are typical results for colleges using LRAP?

The benefits of LRAP are proportional to usage; since colleges only pay for students who enroll and borrow, the impact on net revenue only increases with the number of students attending as a result of LRAP.

A recent University of Michigan study found that 74% of students and parents with knowledge of their LRAP award said it positively impacted their decision to enroll. When offered broadly and communicated well, clients regularly increase enrollment by more than 10%. When provided on a targeted basis to low-yield, low-discount cells, LRAP can significantly increase yield rate in those cells. LRAP has proven to make a significant impact on retention as well.

How long does it take to get started using LRAP, and when can we expect to see results?

We’ve had schools launch the program and see results within days of signing up. The speed depends on your sense of urgency and time of year. Typically, we train new clients and help them begin using LRAP within three weeks after they sign up. They begin seeing results right away.

How does LRAP ensure its long-term promises to students?

We understand that providing this valuable promise to your students requires confidence that LRAP Association will be able to make good on that promise when the time comes. We have worked with leading professional service providers to structure our program for long term success and sustainability. We have insurance backing for the program from an A-rated insurance provider and the program was developed in conjunction with an industry-leading actuarial firm.

How does LRAP differ from Federal Income-Driven Repayment Programs (e.g., IBR/PAYE)?

For the student, LRAP wraps around existing federal programs and provides more generous benefits. With LRAP, students are more likely to attend their first-choice college, more inclined to major in their preferred field, and less prone to transfer or drop out. LRAP also covers all loans certified by colleges’ financial aid offices, including not only Federal Direct loans, but Parent PLUS and private alternative loans as well.

For colleges, LRAP changes enrollment decisions in the colleges' favor in a way the federal programs do not. LRAP acts as a differentiator from competitor institutions. We regularly receive positive feedback from colleges that use LRAP on just how powerful a tool LRAP is for them. Simply put, LRAP changes enrollment decisions.

Is there independent research that validates LRAP’s impact?

Yes, for example; research conducted by the University of Michigan’s National Forum on Higher Education for the Public Good found that 74% of students and parents with knowledge of their school’s LRAP offering said it positively impacted their decision to enroll. Other studies conducted by Stamats and Credo provide evidence of LRAP’s impact on students’ enrollment decisions.

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  • Being able to send our girls to college seemed financially impossible. However, by using the LRAP, our anxieties have eased and we can focus on supporting them with confidence.

    - John, LRAP parent
  • 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