Evangel introduces loan repayment assistance program

Evangel University is launching a loan repayment assistance program for students starting in the fall semester.

Called the Valor Advantage Loan Repayment Assistance Program, the initiative is designed to help students pay their loans after graduation if their income is below $50,000, according to a news release. In partnership with Ardeo Education Solutions, the service is offered at no cost to students, and assistance continues until the graduate's income exceeds $50,000 or until the loans are paid off.

Loans that can be paid off through Valor Advantage include federal and private alternative loans, as well as money taken out with a student's parent. Eligibility requirements include a student aid index of less than $20,000 as determined by the Free Application for Federal Student Aid.

"Our goal is to remove as many financial obstacles as possible for students who feel called to be here. For eligible students, LRAP is one of the tools we use to help make that possible," Evangel President Mike Rakes said in the release.

Evangel additionally plans to offer an optional loan insurance coverage plan for students who don't meet the LRAP eligibility requirements.