Managing the cost of college is a concern for most families. This is why Concordia College has reduced tuition by more than 35% for the 2021-22 academic year and created a new student loan repayment program for qualified incoming students. These two changes by Concordia will help prospective students better understand the direct costs of attending Concordia and manage their educational expenses in the future.
We believe deeply in the quality and value of a Concordia College education. This is why staff members in the Office of Financial Aid at Concordia help students manage their college costs and identify financial aid sources for which they qualify. Some students and families express concern about the burden of student loans. It is important to recognize that Concordia College has long been recognized as a responsible partner in helping students manage and limit student loans related to their educational expenses. The CobberAssurance program is additional evidence of this ongoing commitment the college has for helping students manage their college costs over the long term.
This program is offered to qualified* incoming students and families to help address the concern of repaying student loans after graduation. The CobberAssurance Program does just that – helps students repay their loans after graduation. This safety net helps Concordia graduates pay student loans in the event they earn less than $48,000 per year in their first careers out of college.
The CobberAssurance Program covers all Federal Direct, Private Alternative Student Loans, and Parent PLUS loans.
Participants must sign up at mylrap.org/ConcordiaCollege.
CobberAssurance Program Eligibility*
- Family AGI under $150,000 (varies based on number of dependents)
- Graduate from Concordia College; the CobberAssurance Program is not transferable
- Transfer students must have 2+ years remaining to qualify
- After graduation:
- Work in the U.S. (Overseas/grad school puts your LRAP benefits on “pause”)
- Work 30+ hours/week or more (Students must find employment within 18 months of graduation to qualify)
- Not working with family
- The CobberAssurance Program is paid quarterly (via reimbursement on your loan payments).
- Your income determines the assistance that you receive:
- Upper income threshold $48,000
- Lower income threshold $20,000
- Proportional reimbursement between thresholds
- Coverage lasts for the life of the loan or until income exceeds upper income threshold.
|Graduate's income||Percent Reimbursed|
|$20,000 or less||100%|
|$48,000 or more||0%|