What is an LRAP?

Ardeo Education Solutions is a mission-driven company that partners with higher education institutions to provide loan repayment assistance programs (LRAPs) that are smart for students and smart for colleges.

LRAPs are a compelling safety-net for prospective students and their families. LRAPs provide a powerful promise: if income after graduation is below a certain amount, typically $43,000 the program will help repay federal student loans, parent PLUS loans and private alternative loans.

How do LRAPs help students and families?

  • Ardeo’s loan repayment assistance programs provide peace of mind – the promise of the LRAP reduces stress for cost-conscious students and their families during the college selection process.
  • LRAPs remove financial barriers – empowering students to take advantage of the opportunity that borrowing can unlock, and making the life-changing impact of higher education more financially accessible to more students.
  • They help overcome fear and uncertainty caused by borrowing, enabling students to enroll in the best-fit program – so they don’t have to settle for anything other than the right college or university for them.

How does it work?

To receive assistance, students must meet the following eligibility criteria:

  • Be a graduate from the institution where the student signed their offered LRAP award.
  • Be employed and work 30+ hours a week.
  • Begin making their loan payments.

Why are LRAPs important?

Loan repayment assistance programs are changing how colleges, students and families think about financial aid. College cost is a key concern for students and families when making their higher education choice – with taking on student and parent loans as a hefty deterrent to prospective students making the right choice for them.

More than 120 colleges and universities across the country have offered an Ardeo LRAP to their students. For institutions that market their LRAP broadly, 25.4% of their enrolled students say they would not have enrolled without the program.

How is LRAP assistance calculated?

  • First, Ardeo looks at a student’s eligible federal, private and parent PLUS loan payments, relative to their borrowing limits.
  • Then the student’s annualized income is compared with their LRAP’s specific income threshold, to find their income proportion.
  • Finally, Ardeo reviews their average time worked (out of 40 hours per week) to get the student’s hours-worked proportion.

Why do graduates love LRAPs?

  • On average, Ardeo pays LRAP graduates receiving assistance $703 per quarter.
  • 92% of graduates have said they are grateful to their alma mater for offering them an LRAP.
  • Ardeo responds to graduates’ requests for assistance within one business day
  • Ardeo will write a reimbursement check within one week of receiving documentation.
  • Reimburses 96.5% of assistance requests.

Want to learn more about loan repayment assistance programs (LRAPs) and how they help students and families? Ardeo has information available at mylrap.org.