x-sender: governor.haley@sc.lmhostediq.com x-receiver: governor.haley@sc.lmhostediq.com Received: from mail pickup service by IQ12 with Microsoft SMTPSVC; Tue, 29 Sep 2015 23:51:29 -0400 thread-index: AdD7M0mgdnKFNh6ESCmHAFqS/J49iQ== Thread-Topic: Newberry College Launches Innovative Loan Repayment Assistance Program From: To: Subject: Newberry College Launches Innovative Loan Repayment Assistance Program Date: Tue, 29 Sep 2015 23:51:29 -0400 Message-ID: MIME-Version: 1.0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit X-Mailer: Microsoft CDO for Windows 2000 Content-Class: urn:content-classes:message Importance: normal Priority: normal X-MimeOLE: Produced By Microsoft MimeOLE V6.1.7601.17609 X-OriginalArrivalTime: 30 Sep 2015 03:51:29.0154 (UTC) FILETIME=[49AA3620:01D0FB33] CUSTOM Dr. Maurice W. Scherrens Johnson President Newberry College 2100 College St. Newberry SC 29108 mscherrens@newberry.edu 8033215102 EDUC Newberry College Launches Innovative Loan Repayment Assistance Program 199.15.170.158 LOAN REPAYMENT PROMISE PROVIDES FINANCIAL SAFETY NET BY HELPING STUDENTS REPAY COLLEGE LOANS Newberry College has launched a new program designed to give students the freedom to pursue their academic and vocational goals by easing their worries about repaying student loans after graduation. After three years offering the Newberry College Tuition Promise, which guaranteed incoming students no tuition increases during their four years of undergraduate study, Newberry College now unveils the innovative Loan Repayment Promise. The Newberry College Loan Repayment Promise offers a powerful safety net to students and their families by promising to help repay their education loans. If the graduate earns less than $36,000 a year working at least 30 hours per week after graduation, Newberry College will help repay their student loans until they reach that salary. Newberry College is the first higher education institution in South Carolina to offer this innovative type of loan repayment assistance. The program will be provided to all incoming freshmen and transfer students beginning with the Fall 2016 semester. "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," said Newberry College president Dr. Maurice Scherrens. How It Works Incoming freshmen and transfer students with at least two academic years remaining until graduation are automatically enrolled in the program at no additional cost to the student. Students must graduate from Newberry College and be employed at least 30 hours per week after graduation. The level of repayment assistance is determined by the graduate's income. If the graduate earns less than the lower threshold income of $20,000, they are eligible for full reimbursement. As income increases to the upper threshold income of $36,000, the benefit is adjusted accordingly. Assistance continues under the Loan Repayment Promise until the graduate's income surpasses the upper income threshold or their loans are repaid. "The Loan Repayment Promise offers students greater flexibility and freedom to follow the career path that fulfills their passion and purpose by removing the burden of excessive loan debt," said Hugo A. "Hap" Pearce, chairman of the Newberry College Board of Trustees. U.S. News and World Report recognized Newberry College as a "Least Student Debt" college in the South in its 2015 rankings report. Newberry also was recognized as a private college worth the investment in the book, "Is College Worth It?" by former U.S. Secretary of Education William J. Bennett. For more information, visit www.newberry.edu/WePromise