The Effectiveness of Loan Repayment Assistance Programs on Freshmen Enrollment at a Small Private College

• Main Author: Leavitt, Don R.
• Language: EN
• Published: Northcentral University 2016
• Subjects: Education finance|Management|Educational administration
• Online Access: http://pqdtopen.proquest.com/#viewpdf?dispub=10155672

<p> Small private colleges are an important part of the higher education system. The cost of attending a small private college has increased along with student debt. This has become an issue in the recruitment and retention of students. Loan repayment assistance programs represent a possible solution to the student debt issue for small private colleges, and a path to their continued viability. The purpose of this quantitative, quasi-experimental study was to investigate the changes to freshmen enrollment after the implementation of a loan repayment assistance program at a small private college. The proposed study examined changes between the pre and post implementation of a loan repayment assistance program for incoming freshmen. The student variables examined were the total number of newly enrolled freshmen, their SAT scores, and their initial loan balances. The population for the study was a small private college in Salem, Oregon that recently implemented a loan repayment assistance program. The results showed no statistically significant difference in the number &chi;&sup2; (1) = .69, &rho; > .05 or the SAT scores <i>t</i> (383) = .10, &rho; > .05 of the 2014-15 versus the 2013-14 freshman classes. However, the results did show a statistically significant different in the initial loan balance <i> t</i> (383) = .006, &rho; &lt; .05. Freshman students had larger loan balances after the implementation of a loan repayment assistance program. </p>