Assistance program (LRAP) for Bible Majors
We understand that you have concerns about the cost of college and student debt after graduation. LRAP can help.
The lifetime benefits associated with a quality college education at Ohio Valley University will provide an excellent return on investment. As a Bible major at OVU we want you and your family to know that we are taking every measure to ensure your future success.
LRAP: Your Peace of Mind
We want to make sure that student loan debt will not stand between you and your dreams to enter ministry. LRAP can provide a safety-net for incoming Bible majors beginning in the fall of 2016. If your income is modest after graduation LRAP may help repay your student loans.
LRAP: Empowering You to Follow Your Dreams in ministry
Our Loan Repayment Assistance Program* can safeguard your financial and educational investment in your future, while empowering you to follow your dreams and highest ambitions in ministry after graduation.
The LRAP promise to OVU Bible majors is simple: if you don’t earn at least $40,000 once you are employed after graduation, we will help you repay your student loans until you do! LRAP strives to make your education at OVU affordable and accessible. It's our lifelong commitment to your personal ministry.
How LRAP Works
You pay nothing. Your award letter from LRAP Association will specify lower and upper income thresholds that determine how much assistance you are eligible receive after graduation. Assistance comes in the form of quarterly reimbursements on your loan payments. To qualify you must graduate from Ohio Valley University and be employed a minimum average of 30 hours per week in ministry--it’s that simple.
If your income after graduation is modest, you will receive assistance to help repay your student loans:
- If your income is below the lower income threshold, you will receive reimbursement for the entire amount of your loan payments.
- As your income increases to the upper income threshold, the benefit is reduced proportionately. For example, if your income is halfway between the upper and lower income thresholds, you will receive half of the amount of your loan payments as quarterly reimbursements (see example).
- Loan repayment assistance will continue until your income surpasses the upper income threshold, or your loans are entirely repaid.
NOTE: Some limitations may apply. LRAP is only available to Bible majors at OVU enrolling in the 2016-17 academic year.