Loan repayment program helps double Keystone College applications
A commitment by Keystone College to pay the student loans of some graduates has led to greater interest and more applications.
The Keystone Commitment Loan Repayment Assistance Program begins with first-time, full-time freshmen starting this fall.
The first program of its kind in the region, Keystone graduates working at least 30 hours per week with an annual income of $20,000 or less will receive 100 percent reimbursement on loan payments. Students earning $30,000 will receive 50 percent reimbursement. The program covers federal, private and parent PLUS loans. Repayment assistance continues until the graduate’s income rises above the $40,000 threshold or until the loans are completely paid off.
Since Keystone announced the program in September, the number of applications received by the college has doubled, said Janine Becker, Ph.D., the college’s vice president of enrollment.