Increasing Enrollment, Retention, and Revenue
by Changing "No" to "Yes"
Securing Commitments from On-the-Fence Students
Many prospective students (and their parents) have a profound fear of debt. Often, the parents fear the debt more than the prospective student. They know that higher education is a good investment. They know the average college graduate earns a million dollars more during their lifetime than the average high school graduate. But they fear their child will not have that experience. They fear a choice of career that might pay a lower wage, at least initially -- and that large student loans will be a severe burden. That fear leads many families to settle on a less expensive college option, even when it’s an under match given the student’s interests and abilities.
This anxiety leads parents and students to bet on failure instead of success, changing the idea of college from a valuable investment in their future, to an unacceptable immediate cost.
At nearly every college these days, such students and families comprise a significant segment of admitted students. The good news is that in the growing universe of LRAP colleges, that dynamic is changing. A high percentage of applicant families (on average, 68%) value LRAP enough that it changes their enrollment equation, substituting value for cost, and enabling the right decision to be made.
By helping relieve the anxiety of loan repayments, LRAP's loan repayment assistance program helps students attend and graduate from their first-choice college or university – a choice that can start benefiting your institution today.
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