- While schools including Yale University and the University of Pennsylvania have opted to sue former students failing to pay back loans, Spring Arbor University in Spring Arbor Township, Mich., has opted to implement a plan that assists and reimburses students who struggle to make payments.
- The plan, the university expects to cost $12,000 per student per year, will reimburse graduates working 30 hours or more per week but earn less than $37,000 annually.
- Dr. Charles Webb, the president at Spring Arbor, hopes the plan will ease fears among new undergraduates looking at attending the university.
From the article:
"... Four out of 10 of Spring Arbor students receive grant money. While the $22,000 tuition pricetag is $7,000 below below the average for a private institution, the shaky job market and a mountains of student loan debt could be detering young people from heading to any college. ..."