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Montreat College introduces program to aid in student debt
Montreat College announced on Oct. 22 that it will offer a student loan repayment assistance program called the Montreat College Commitment (MCC). The MCC is available to all incoming freshman and transfers with at least two years remaining who enroll in the college’s traditional four-year degree program for fall 2019.
The program is designed to help Montreat graduates in entry-level positions to pay off their student loans at no additional cost to students or their families.
“We are excited to be the only college in North Carolina offering this free safety net to our incoming students,” says Montreat College Vice President for Enrollment Management Kristin Janes. “We know that many college students and parents are concerned about student debt, and the Montreat College Commitment was created to help address those concerns.”
Once students are employed after graduation, if they earn less than $43,000 per year, Montreat College will help them repay their student (and Parent PLUS) loans until their annual income meets the $43,000 threshold or the loans are paid off.
“We are committed to providing our students with a high-quality education without excessive student loan debt,” says Janes. “The Montreat College Commitment program allows students to borrow the amount they deem necessary to attend Montreat College while helping to provide them with the freedom to pursue their desired vocational calling as they launch their careers.”
The MCC is part of a larger college strategy for limiting the student loan debt of its graduates. Montreat College’s tuition is 25 percent lower than the national average for private colleges and universities, and 99 percent of Montreat students receive institutional aid.
Thanks to this strategy, U.S. News and World Report ranked Montreat College 2nd in North Carolina and 13th in the South for “Lowest Student Debt” among regional universities in 2018.
The addition of the MCC further strengthens the college’s strategy to limit student debt.