College to Pay Loans for Grads Making Less Than $40K a Year

Keystone College announces new program
By Evann Gastaldo,  Newser Staff
Posted Sep 21, 2016 5:20 PM CDT
Mateo Valdez, 5, of Scranton, Pa., finds his seat before the start of a multi-media presentation titled The Road to Freedom: A Journey Toward Peace, performed by Key Arts Productions based in Philadelphia,...   (AP Photo/Scranton Times & Tribune, Butch Comegys)

(Newser) – If you graduate from Keystone College and your post-grad job pays less than $40,000 a year, the Pennsylvania institution will pay some or all of your student loans, officials announced Tuesday. The Keystone Commitment Loan Repayment Assistance Program will first be available to first-time, full-time freshmen who start at the college next fall, the Scranton Times-Tribune reports. Students will qualify for 100% reimbursement on loan payments if they work at least 30 hours a week and make $20,000 or less per year; they will qualify for 50% reimbursement if they make between $20,000 and $30,000. The college also has a program promising that if graduates aren't offered a job or accepted into a graduate program within six months of graduating, they can return to Keystone for career help or more study. (Read more student loans stories.)

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