College to Pay Loans for Grads Making Less Than $40K a Year

If you graduate from Keystone College and your post-grad job pays less than $40,000 a year, the Pennsylvania institution will pay some or all of your student loans, officials announced Tuesday. The Keystone Commitment Loan Repayment Assistance Program will first be available to first-time, full-time freshmen who start at the college next fall, the Scranton Times-Tribune reports. Students will qualify for 100% reimbursement on loan payments if they work at least 30 hours a week and make $20,000 or less per year; they will qualify for 50% reimbursement if they make between $20,000 and $30,000. The college also has a program promising that if graduates aren't offered a job or accepted into a graduate program within six months of graduating, they can return to Keystone for career help or more study. (More student loans stories.)