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College will help with loans if grads don't land a good job

February 08, 2013|By David Lazarus
  • College graduates often have trouble paying off their student loans. Now a small Michigan university says it will help graduates pay off those loans if they can't find a good job.
College graduates often have trouble paying off their student loans. Now… (Bloomberg )

A college education can be an investment in your future. But if you can't land a decent-paying job, that investment can leave you saddled with debt.

So a small Christian university in Michigan, Spring Arbor University, is offering a sort of money-back guarantee. "Money-back" as in you won't have to give all the money back if you don't get a good gig.

The school's program guarantees that students and their parents will receive help in repaying loans if a graduate's income fails to meet certain benchmarks. The assistance will continue until the grad's income rises enough or the loan is paid off.

To qualify, a graduate of the school must work at least 30 hours a week.

Spring Arbor's president, Charles Webb, told the Associated Press that the school wants to provide "students and their families with peace of mind" in an uncertain job market.

What would Jesus do? Probably something kind of like this.

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