FINANCIAL AID » Loan Repayment Assistance Program

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Loan Repayment Assistance Program

A BBC education is worth the investment. The opportunities you gain as you learn to think biblically, grow spiritually, and serve faithfully are priceless.

We understand the challenges you face in making this investment. Paying for a college education these days is difficult for everyone.

We hear your concerns. And we’ve done something to help you focus on your future.

Beginning in fall 2014, all incoming campus-based freshmen and qualified transfer students will be automatically enrolled at no cost in a loan repayment assistance program through LRAP Association.

LRAP provides a safety net to ease the burden of student loans. If you’re working and your income after graduation is low, LRAP will help you repay your loans.

This is a powerful response to every family who questions their ability to afford college. It is provided through an arrangement with Bloomington, IN-based LRAP Association.

Learn more from BBC Admissions at admissions@bbc.edu or 800.451.7664.

Here are some details:

  • If your annual income falls below the lower threshold of $20,000, LRAP will reimburse you for the entire amount of your loan payments.
  • As your annual income increases to the upper threshold of $35,000, LRAP assistance is reduced proportionally.
  • Assistance continues until your loans are repaid in their entirety or your annual income increases above the upper threshold.
  • Eligible graduates receive quarterly reimbursement.
  • You must graduate with a bachelor’s degree from BBC.
  • You must be employed at least 30 hours per week in the U.S. and not be self-employed or working for family.
  • Missionaries seeking to serve overseas are eligible while they are employed raising support.

 

LRAP covers:

  • All federal student loans.
  • Private alternatives to student loans.
  • PLUS loans to parents.
  • Not included are credit card debt, home equity loans, and personal loans from family and friends.