More than ever, students are demanding an affordable college education. To enroll, they need to know they’ll be better off after college—not saddled with debt they can’t pay. Edmit Solutions helps colleges prove they’re worth the price. And that boosts student enrollment.
Students and families want higher college ROI.
43% of students and families cite job outcomes and future earnings as the main benefits of college*
41 % of graduates experience underemployment, with job searches lasting an average of 6–12 months**
74% of students at one participating institution said the school’s student loan protection program positively impacted their enrollment decision^
Average enrollment increase of schools after offering similar programs to all incoming freshmen^^
Protect your graduates until they land their first job.
Great things rarely happen overnight. In fact, recent grads’ job searches last an average of 6–12 months.
Edmit Solutions’ Student Loan Guarantee Program helps you protect your recent graduates from unemployment while they search for their first job out of college.
How the program works.
Edmit Solutions’ Student Loan Guarantee Program promises 6 months of student loan payment protection for participants who earn below a defined threshold after graduation.
The Guarantee applies to institutional loans, private loans, and federal loans (including Parent PLUS loans.
Have more questions?
Q: What is the program?
A: It is an insurance program that provides recent graduates up to six payments toward all eligible student loans while they search for employment—at no cost to them. The program consists of two parts:
- The promise your institution makes to eligible students
- An agreement between your institution and an insurance carrier, which covers eligible loan payments for months when participating graduates have earned less than the annual equivalent of $20,000/year
Q: How does the program work?
A: On the front end, your institution promises students up to six payments toward all eligible student loans after graduation, if they can’t find a job that pays above a defined minimum income.
On the back end, Edmit Solutions facilitates your institution’s purchase of an insurance policy from an A- rated insurance carrier. The policy will cover no less than 100% of the obligation you made to students, and it will include no deductible and no coinsurance. The cost to your institution will equal 3% of the total student loan amount insured. It’s critical that your institution in no way passes down the cost of insurance to students via a tuition hike, extra cost, or other means.
Q: Who pays for the program?
A: Your institution pays for an A- rated insurance policy. The insurance carrier assumes the burden of student loan payments for qualifying graduate participants. Students and graduates pay nothing. Again, it’s critical that institutions do not pass down the cost of insurance to students.
Q: Can my institution name the program?
A: Yes! You may name your program whatever you’d like. You’ll only need to keep in mind that words denoting insurance industry–specific meanings, such as “insurance” and “warranty,” have industry-specific regulations and must be avoided in student communications. Students are unaffected by the insurance policy your institution takes and, unless they ask for it specifically, should be insulated from insurance information to avoid confusion.
Q: How is student eligibility for the program determined?
A: The program’s eligibility criteria comply with legal requirements and regulations, and do not discriminate against any student groups. All students who graduate within six years, and whose majors’ projected first-year earnings exceed their total yearly student loan amounts, are eligible. If a student’s total yearly student loan amount exceeds her projected first-year earnings, she is not eligible for the program.