Institutions throughout the country use LRAP to increase enrollment and net-revenue, as a more cost-effective and attractive offer than additional institutional aid. By differentiating their offer with LRAP, colleges stand out from their competitors, and attract and hold the attention of prospective students and their families.
On average, 72% of students who receive LRAP would not have enrolled without it, according to our clients. And with a significant retention boost as well. That means increased enrollment and net revenue for your institution, year after year.
On average, LRAP students are 10.1% more likely to be retained from freshman to sophomore year than their non-LRAP peers. When students enjoy the peace of mind to anticipate financial stability after college, they are free to pursue their passions on campus, and their career and life goals after graduation – leading to empowered alumni and enhanced pride for their alma mater.
LRAP is a cost-effective strategy, with no upfront costs. Offer as many as you like without worry. You only pay us for students who enroll in the fall, after your census date, and even then, only for those who borrow. Also, the additional net revenue for one student you secure with LRAP typically covers the LRAP fees for an additional 9.
Increase yield for students in your enrollment funnel with our budget-friendly alternative to offering additional aid, which can be detrimental to discount rates and budgets. Use LRAP to increase enrollment, while proactively addressing the most common challenge to enrollment: finances.
LRAP provides peace of mind for your cost-conscious students (freshmen, returning, and transfer) and their families, allowing you to remove financial concerns from the equation, and refocus the conversation on the lifetime value of a degree from your institution.
With LRAP you can confidently articulate your value, and empower students to attend your institution, knowing that student debt will not stand between them and their dreams after graduation.
LRAP differentiates your brand and reinforces your value proposition. Get a competitive edge on your competition, and remove them from the conversation. Offering LRAP conveys a vote of confidence in the value of the education you are providing, and a caring understanding for cost-conscious families.
Offering LRAP broadly and publically puts your institution in the limelight, and serves as a great conversation starter with local and at-large media outlets. By proactively addressing the $1 trillion facing higher education, you can expect to peak news outlet’s interest and garner the favor of social media ambassadors. Our clients have been featured in a wide array of national media outlets, including USA Today, CNN, LA Times, Fox News, The Chronicle of Higher Education and many more.
Offering LRAP to targeted groups creates a win-win for your institution. Whether you’re looking to put your institution on the map this year, or create stronger relationships with selective audiences (e.g. demographic, socioeconomic, and geographic), offering LRAP can set your institution apart and broaden the potential pool of applicants.
Which student groups are you trying to attract? Whether you have goals to support first-generation students or financially at-risk populations, LRAP can help. Removing financial anxiety from a student or family’s decision on where to enroll can change conversations from cost to value, and enrollment decisions from “no” to “yes.”
LRAP puts your institution and graduates on the path to success. Whether your strategic goals are to increase access and affordability, or equip students to become productive members of society, we can help make sure that concerns over the impact of student loan debt don’t stand in their way.
Help more students pursue their passions on campus and after graduation, while preparing to make a positive impact on the world – your students will be free to choose lives of purpose, appreciative that.