Alderson Broaddus University, a small, private university in Philippi, West Virginia, experienced a 10% enrollment increase in new incoming students for fall of 2019.Alderson Broaddus is the first college or university in West Virginia to offer an LRAP to all incoming students, distinguishing their institution from others in the state. When enrollment administrators decided to market the loan repayment assistance program broadly to all students, their white-label LRAP, the AB Advantage, was born.
Early Success Results:
- Overall 10% enrollment increase for all new incoming students.
- 22% of students surveyed at AB said they would not have attended Alderson Broaddus without the AB Advantage.
- There is a projected $805,000 additional net tuition revenue from those students who would not have enrolled without an LRAP, after accounting for the program fees for all.
“Offering the AB Advantage gives confidence and peace of mind to our prospective students and their families, and shows that we believe in the value of the degree they will receive at Alderson Broaddus,” said Dr. Eric Shor, Executive Vice President for Administration and Vice President for Enrollment Management at Alderson Broaddus.
Enrollment management staff, including athletic coaches and admissions counselors embraced the loan repayment assistance program as a way to help their students and families make affording college more accessible. Not only is the LRAP a benefit for students, it has a significant, positive impact on yield.
The AB Advantage promises Alderson Broaddus students and families that if their income after graduation is below a certain amount, the program will help them repay their federal, private alternative and parent PLUS loans.
We’re excited to share Alderson Broaddus’ success, and we look forward to helping more institutions increase their enrollment.