Student loan debt is a growing problem in the U.S., but school seniors and parents are not alone in their concern. MidAmerica Nazarene University officials announced Pioneer Pledge, a program designed to help repay student loans.
Beginning with freshmen and eligible transfer students enrolling in fall 2019, this safety net will assist with repaying student loans after graduation from MNU if the graduate’s annual income is below $43,000. The lower the graduate’s income, the higher the percentage of repayment — up to 100 percent — until their income increases.
MNU is the first university in Kansas and Missouri to provide this program for all new students.
“We are making this pledge because we believe that strongly in the transformative education at MNU,” said David Spittal, MNU president. “We want our students to feel confident in pursuing their passions after graduation, such as public service, ministry, or other pursuits instead of having to make career choices based solely on long-term debt.
Students say Pioneer Pledge has already helped them have confidence about repaying their student loans.
“This will help me so much,” said Kyessence Collins, a freshman communications major from Kansas City, Missouri. “It gives me a stress reliever about everything now.”
MNU is determined to help future students.
“We’re serious about providing peace of mind about the cost of an education at MNU,” said Mary Jones, provost. “This lets graduates consider internships and other positions that can enhance their long-term career options, even if they earn less initially.”
Read more about MNU’s Pioneer Pledge and available financial aid at mnu.edu.