Published Sept. 29, 2015
Newberry College has unveiled a program that offers to help graduates pay their education loans until they reach a certain salary in the workforce.
The Loan Repayment Promise offers to help repay loans if alumni earn less than $36,000 a year working at least 30 hours per week after graduation. The college will aid in loan payments until they reach that salary.
“The Loan Repayment Promise demonstrates our belief in the value of a Newberry College education and our commitment to helping students pursue the career or vocation of their dreams,” president Maurice Scherrens said.
The school is the first in-state institution to offer this type of assistance. The program will be offered at no cost to all incoming freshmen and transfer students beginning with the Fall 2016 semester.
If a graduate earns less than the lower threshold income of $20,000 they are eligible for full reimbursement. Benefits adjust accordingly as a salary rises.
U.S. News and World Report recognized Newberry as the “least student debt” college in the South in its 2015 rankings.