Adrian College Making Student Loan Payments
This is a true case of "putting your money where your mouth is." In the case of Adrian College, it's putting money where graduates may not have any.
This is really a great thing! It's called "Adrian Plus!"
Starting with next year's freshmen, Adrian College will cover a student's loan payment if that person is earning less than $20,000 a year. They will cover a portion of the payment for graduates making up to $37,000 a year.
Here's how it works:
After graduation, if you have a job paying less than $20,000, the college makes the entire monthly loan payment until you have a job making over $37,000. If, after graduation, you have a job making between $20,000 and $37,000, the college makes payments on a sliding scale. The cap is $70,000 total per student. To qualify, students must be full-time students at Adrian and make "satisfactory academic progress."
I love this! That's a nice assist and guarantee against the uncertainties of the "real world," don't you think?
Adrian College president Jeffrey Docking told the Detroit Free Press:
“It has become increasingly clear that money and student debt are major hurdles for parents and students to get over as they consider higher education. Especially when it comes to a small, private college like Adrian. They are scared away by the sticker price. We don’t expect a lot of Adrian students to need the program upon graduation.”