Simpson University Offers New, Innovative Loan Repayment Program

Simpson University announces the offering of a unique loan repayment assistance program (LRAP) called SimpsonAdvantage for all incoming freshmen beginning fall of 2015. Continue reading →

May 06, 2015 /prREACH/ -- REDDING, Calif.— Simpson University announces the offering of a unique loan repayment assistance program (LRAP) called SimpsonAdvantage for all incoming freshmen beginning fall of 2015.

“We want students to be free to pursue their passions and career of choice after graduation, confident that student loans will not stand between them and a successful future,” said Dr. Tom Shaw, vice president for enrollment management at Simpson.

College is a dream for most high school students and their parents. For many it’s the pathway of learning that will enrich their lives and open doors for rewarding careers. However, that dream can seem daunting because of what it costs to attend college, and the long-term impact of taking out student loans.

Mintel, a leading global supplier of consumer intelligence, recently released a report noting that 52 percent of current college students accept debt as a necessary part of life. Since only 14 percent of today’s students have their college expenses paid for by their parents, that means the majority rely on state and federal financial aid, as well as assistance that colleges provide. Even with the gift aid, students are taking out student loans to cover the remaining part of their educational and living costs.

The report noted some of the realities of today’s college students in managing their debt. Of greatest financial concern for them is making enough money to live on their own (51 percent), making student loan payments (33 percent), and managing day-to-day finances (31 percent).

In response to these challenges, Simpson has kept cost increases to a minimum, making it among the most affordable Christian universities on the West Coast. Additionally, Simpson offers need-based scholarships to traditional undergraduates to assist with the cost.

Offering the SimpsonAdvantage program is another way Simpson seeks to remain sensitive to the economics of student loan volume on the lives of its students.

After graduating from Simpson University, LRAP-enrolled students qualify for loan repayment assistance based on their work hours and earnings.

Dr. Robin Dummer, Simpson University president, said, “SimpsonAdvantage provides a higher level of peace of mind to families in that it acts as a financial safety net.” He also noted that this benefit is offered free to all new freshmen.

For more information about the SimpsonAdvantage program, visit simpsonu.edu/advantage.

Simpson University nationally ranks 20th on the 50 Best Value Christian Colleges and Universities list (http://www.christianuniversitiesonline.org/best-value-christian-colleges-and-universities/).

Mintel report: http://store.mintel.com/the-financial-lives-of-college-students-us-march-2015