Loan Repayment Assistance Program (LRAP)
A No-Cost OCU Benefit
For Students and Parents
All Traditional Campus Students Qualify
Peace of Mind Concerning Loans
Take advantage of Payback Promise (LRAP)
Get peace of mind today with our Payback Promise program. Benefits kick in after your graduation if a high-paying job is not immediately available. You (and your parents) can qualify to have this tuition repayment assistance available in the future, which helps you today dedicate yourself more fully towards your improvement and graduation. Details apply, please see below.
- Payback Promise is a Loan Repayment Assistance Program (LRAP) provided in partnership with Ardeo Education Solutions
- Graduates with incomes below $45,000 and their parents (if they have parent PLUS loans) will both receive assistance in repaying their educational loans
- Provided at no cost to students and their families
- Covers graduates in any major or area of study
- Ohio Christian University is the only university in Ohio to offer this type of program
- More information can be found at myLRAP.org
How it works:
- Accept your award at myLRAP.org/OhioChristian before move-in day
- Graduate from Ohio Christian University and work over 30 hours a week
- Provide a letter of employment or other supporting documents
- Make at least minimum wage in your state
- Assistance is provided as a quarterly reimbursement after loan payments are made
- Pays up to $17,000 an academic year and an aggregated total of $70,000
- Covers Federal, Private, and Parent Plus loans
- CANNOT repay payments made overseas
- Assistance is determined on a sliding scale relative to the graduate’s income between $20,000 and $45,000
- Graduates with an income under $20,000 could qualify for full (100%) reimbursement on their loan payments
- Assistance continues until the graduate’s income exceeds $45,000 or the loan is paid off
- Parent PLUS loan reimbursements are based on the graduate’s income and can be paid directly to the parent
- Graduates pursuing graduate school, or a period of international service may pause their eligibility to Payback Promise for up to three years
- Graduates will not be penalized for interest accrued on loans deferred during this time
How does the OCU Partnership with mylrap.org work?
Ohio Christian University has partnered with the nation's premier provider of loan repayment assistance programs (LRAP). Our partnership with Ardeo Education Solutions makes the Payback Promise program available to our OCU students. The website: award.mylrap.org is where you will create your Payback Promise / Loan Repayment Assistance Program (LRAP) account and manage the benefits that are available to you after graduation. We are happy to provide Payback Promise to you and assist you in your journey to manage all financial aspects of your education with us. This includes our loan repayment assistance program: Payback Promise as well as other financial sources you've pursued, including grants and loans through FASFA.
mylrap.org clarifies this relationship : "At Ardeo Education Solutions, we partner with colleges and universities to eliminate fear of debt as a barrier to students attending their preferred college, pursuing their academic interests, and preparing for the career of their dreams."
Is the payback promise available for all students?
Traditional Undergraduate students who have enrolled as freshmen in our campus program meet all the criteria for our loan repayment assistance program. However, transfer students, international student, or students in adult graduate studies programs or online plus programs may not be eligible for the loan repayment assistance program. Please speak with your admissions counselor about your eligibility if you are a transfer student, are an international student, or have enrolled in online classes with OCU.
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*May not be available for international students and transfers students. Please check with your admissions counselor about specific terms and conditions.
**This is only a summary for students enrolling in the 2020 - 2021 academic year. Certain terms and conditions apply. Please see your LRAP Award for full details. For more information, please visit www.myLRAP.org