- Part of a plan adopted by trustees in January, Wilson College will pay back as much as $10,000 of a student's federal Stafford loan debt if they earn a degree at the school in four years, take part in the college's new financial literacy programs and participate in activities and community services.
- GPA will determine how much Wilson will pay, with $5,000 going to GPAs of 3.5 to 3.69, while a 3.7 to 3.89 will merit $7,500 and a 3.9 or higher will receive the full $10,000.
- The college--which also plans to lower tuition $5,000 to $23,745 for the 2014-15 academic year--plans to offset the estimated $100,000 a year cost of the buyback program by attracting more students.
From the article:
Wilson College has released details of an unusual debt-buyback offer that is one of the keys to a plan its trustees adopted in January in an effort to attract more students and keep the tiny Pennsylvania liberal-arts institution in business. ...