Lyon College to offer loan forgiveness program

Lyon College said it is the first college in Arkansas to reportedly offer a loan repayment assistance program (LRAP), also known as the Lyon Pledge, to all new and incoming students starting with the fall 2021 semester.

New and incoming students must sign up before the first day of classes on Tuesday, August 17.

“We want to show our conviction that graduates of Lyon College receive a quality education that prepares them to succeed in the workforce,” said Lyon President W. Joseph King. “The Lyon Pledge is a promise to our students that we can help you repay your student loans if your income is low after graduation.”

The Lyon Pledge will help graduates repay their federal student, parent PLUS and private alternative loans if their income after graduation is below $43,000. The student must graduate from Lyon College and work at least 30 hours per week, post graduation.

“While we don’t believe the value of a degree from Lyon can be measured in dollars alone, we understand that student loans are a barrier to higher education for many families. We want to ease student and parent financial concerns by offering families this financial safety-net,” King said.

Lyon has partnered with Ardeo Education Solutions to offer the Lyon Pledge at no cost to students or families. The assistance will continue until the graduate’s income exceeds $43,000 or until their loans are completely paid off.