Implementing a Loan Repayment Assistance Program
Simple and Proven

 
Implementing a loan repayment assistance program at your school is a simple and proven way to increase student enrollment and retention. Our job at LRAP Association, is to make this process as easy as possible, which is why we created a turnkey program, custom-built for your institution and students. 


Here's how it works:

Changing
"No" to Yes"
Example: LRAP at Work

Jane's Enrollment Decision

• Jane is thrilled to be admitted to your school because it's her first choice! 
  
• She then receives her financial aid award and learns that it includes more than $30,000 in loans over the next 4 years. 
  
• She's overwhelmed by the potential debt and her parents are concerned that she won't be able to meet these loan obligations after graduation. 
  
• Jane's parents discourage her from borrowing so much and point out the benefits of a local community college. Jane is disappointed but sees their point. 
• She makes an appointment to visit the local community college.
  

Your Institution Uses the LRAP

• Not having received a committment from Jane, your school offers her the loan repayment assistance program which guarantees Jane that she'll have help repaying her loans if her income level is low after graduation. 
  
• Jane is totally relieved to hear this news, and so are her parents. 
  
• They all feel more secure about Jane's future and decide to send in her housing deposit to hold her space at your school. 
  
• Jane's parents are especially proud to support Jane in attending her first-choice school and feel less guilty about having initially discouraged her. 

Simple

1. An LRAP Representative meets with your school's Administrator to understand your enrollment and retention challenges and to recommend an appropriate size Pilot Program (enabling you to "test drive" the program first.) 
   
2. Together, we work out the terms and conditions of the program to insure it meets the financial needs of your students. 
   
3. LRAP then trains your Admissions counselors to get everyone comfortable talking with students about the program. We supply easy-to-understand program marketing materials for students and ongoing support for your team. 
   
4. Your school offers LRAP to a set of students requiring financial assistance - providing a critical added incentive for their enrollment. 
   
5. Your school pays LRAP Association a flat fee for each student enrolled. You only pay for those students who actually enroll each year (the "no-risk" part.) 
   
6. We guarantee the loan repayment and follow through the obligation for the life of the student loan. 

"Using LRAP has been simple." 
- Director of Financial Aid

Proven

Our clients tell us again and again that LRAP is working for them, yielding results that are above and beyond their expectations, year after year.

LRAP is proven to increase enrollment, retention and your bottom line revenue, by alleviating anxiety about post-graduation loan-repayment for both students and their families.

• "We offered the program to 10 students.  We were excited to hear that 9 out the 10 students said they would not have come to Malone had it not been for the LRAP program.  We are very pleased with the LRAP program and are going to offer it to many more students this coming year!”  -Dave Kleffman, Director of Admissions, Malone University. 
   
• "Huntington University has seen firsthand many examples of what we call  “The Power of LRAP.” Students and parents have told us that the only way they were able to either initially enroll...or continue attendance... was through our ability to offer them the Loan Repayment Assistance Program." - Jeff Breggren, Vice-President of Enrollment Management and Marketing, Huntington University
  
  

For more evidence of LRAP's effectiveness and successful implementation, please visit our "Benefits / ROI" and "Members & Testimonials" pages. You can also determine the value of LRAP applied to your institution by completing our "LRAP Benefit (ROI) Worksheet."