FOR RELEASE: September 26th, 2024
GREAT FALLS, MONTANA – The University of Providence (UP) continues its dedicated to ensuring the success of all its students after graduation, through the Loan Repayment Assistance Program, better known as LRAP.
With a mission of providing a liberal education for living and making a living, UP was the first university in the state of Montana to take significant steps in assisting four-year degree graduates in managing, mitigating, and repaying their student loans through LRAP. While other colleges and universities continue to explore LRAP nationwide, UP is also one of the few to offer LRAP to nearly all incoming freshmen.
“We know college is expensive and have been relentless in seeking out innovative ways to support our students financially. In addition to offering competitive scholarships, a four-year graduation guarantee, and significant career support as part of the Argo Advantage, the LRAP program provides an important safety net for our students who are nervous about taking on student loan debt,” said Mackenzie Stick, Vice President for Enrollment Management at UP.
Available at no-cost to students or parents, LRAP is available through a partnership with Ardeo Education Solutions, offered to new, first-year undergraduates who start and complete their bachelor’s degree without transferring to another institution. LRAP covers most types of undergraduate student loans, including federal loans, private alternative loans, and parent PLUS loans. This comprehensive coverage ensures graduates can manage their debt effectively, regardless of the loan type.
With LRAP, students are offered a flexible pathway to repay their undergraduate loans on a quarterly basis through reimbursements. Amounts are calculated based on the graduate’s income and time worked. If a graduate’s income falls below the $50,000 annual threshold, LRAP will step in to help repay the loans.
More than 95% of four-year degree undergraduate students at UP receive some form of financial aid. By providing a unique loan repayment option to graduates, students can comfortably plan to further their education.
