The sentiment behind this plan is very decent and I hope it works on a financial level for the school. If it does, perhaps other schools will adopt similar programs.
Katherine Weber of The Christian Post reports.
Christian University’s New Program Will Help Graduates Pay Off Student Loans
A small, private Christian university in Michigan has announced that it will be offering all incoming freshmen the opportunity to participate in the Loan Repayment Assistance Program, which will help graduating students pay off student loans should their post-college income prove too low.
Spring Arbor University, which boasts an attendance of 4,000 students and is located in Spring Arbor, Mich., will implement this new fund repayment program in Fall 2013.
“As a Christ-centered institution that wants to maintain our commitment to access for all students seeking a quality Christian education, while pursuing their God-given calling, the Loan Repayment Assistance Program provides the perfect safety net, for those times when that calling is to a profession that may have a lower salary,” Matthew Osborne, vice president of Enrollment at Spring Arbor University, told The Christian Post on Friday.
Osborne added that the refund program will be implemented in 2013, so it will benefit future alumni.
“In today’s economy students and parents from all backgrounds and economic levels have real concerns about what the future may hold in terms of employment and salaries,” Osborne continued. “Those fears were leading too many to settle for cheaper educational options or to pursue a degree for entry into a field that would pay more, even if that field wasn’t a true fit to their giftedness.”
Osborne continued, “Our decision, at Spring Arbor University, to provide this program is a means for addressing those concerns and freeing our students to pursue their calling and live on purpose for Christ,” Osborne added.
Christian University's New Program Will Help Graduates Pay Off Student Loans (Christian Post)