The University of Pittsburgh is launching a pay-it-forward debt reduction program for new graduates.
Reported by Inside Higher Ed, students from the state of Pennsylvania graduate with an average debt of more than $36k, $8k more than the national average.
This pay-it-forward program at the University of Pittsburgh will offer qualified students up to $5,000 upon graduation to pay down this debt. In return, these graduates will be asked to contribute to the same fund to help finance future students in the program.
The takeaway? It will be fascinating to see if this pay-it-forward program is able to self-finance in the next few years, but this is yet another creative attempt to localize college financing – away from the federal government and toward the institution and its graduates.
May you continue to fight the good enrollment growth fight at your institution today, and we’ll see you again tomorrow.
Have an Amazon Alexa-compatible product? Subscribe to our Enrollment Growth Briefing.