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University Offers Money-Back Guarantee for Grads

School offers to repay loans if grads can't find a good job


A university in Michigan is offering its incoming freshman a new deal: Get a good-paying job or it will help repay their loans.

Spring Arbor University — a small Christian school located 44 miles west of Ann Arbor — is making the offer to next fall’s freshman class, the Associated Press is reporting. After graduating, if the students don’t find jobs making a certain income, the school will provide assistance repaying the student’s loans.

Students enter the program when they commit to attend. After graduation, the students must be working at least 30 hours per week to get the help. The school will keep providing assistance until the graduate’s income rises above the amount in the guarantee.

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