'Back a Boiler' Rates to Remain Flat

Posted: Updated:
WEST LAFAYETTE -

Purdue University is keeping the income commitment rates for students in its Back a Boiler program flat through the 2018-2019 academic year. The income-share agreement initiative allows students to receive education funding in exchange for an agreed-upon percentage of income they earn after graduation.

As a result of the freeze, rates will remain at the 2016 level, when the program was established. Purdue says, since that time, the fund has distributed $5.9 million through nearly 500 contracts to students in more than 100 majors. Program Manager Mary-Claire Cartwright says the decision to keep the rates flat is another example of the university prioritizing student affordability and accessibility. 

"Although the rates of Parent PLUS and conventional private loans went up again this year, Purdue Research Foundation is keeping the financial obligation for students in the Back a Boiler program to the same rates used to create the program in 2016," said Cartwright. “It is important to note also that our graduating students are being offered good jobs with very competitive starting salaries and that helps keep the rates at a flat level even when other rates like Parent PLUS are going up."

You can learn more about Back a Boiler by clicking here.

  • Perspectives

    • Patten is managing partner of Patten Consulting Group.

      How Murray The Cat Improved My Management Perspective

      Strategic planning likely occupies a fair amount of your time right now, particularly in the fourth quarter of an unusual year. As 2019 nears, so does talk of a possible recession, a renewed presidential election cycle and other issues that may be driving an urgent sense of a need for change at your company or organization. As one with several years in C-level executive positions, I've been brought in to...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • Bags From Train Seats Put PUP in National Marketplace

      An Indianapolis-based nonprofit that creates wallets, handbags and backpacks from reclaimed materials is launching a nationally-focused line of products for the first time. People for Urban Progress, which sells hand-made items from materials including the fabric from the old Hoosier Dome and signage from when Indianapolis hosted the Super Bowl, is repurposing leather from the seats in Amtrak's Boston to Washington D.C. Acela Express trains. The new line includes...

    • The Impact of Technology on Economic Development Policy

      In a world where technology is enabling almost everything, economic development policy makers are faced with several challenges when planning and implementing strategies for economic growth. Communities, regions and states must be able to adapt programs and initiatives to address the economic disruption caused by technology. In particular, investments in tech and talent are vital to ensuring economic growth and wealth creation for residents and businesses throughout the world.

    • Indy, Atlanta Vie For Future FFA Conventions

      As the National FFA kicks of its National Convention and Expo in Indianapolis this week, the organization, and Indy convention planners, have an eye to what city will host future events. The 91st edition of the FFA convention is expected to attract nearly 70,000 attendees from every state in the nation, and pack a $40 million economic impact in the region. The lucrative event is committed to Indianapolis through 2024. Chief Executive Officer Mark Poeschl says...

    • United Way Names VP of Public Policy

      United Way of Central Indiana has named Mindi Goodpaster vice president of public policy. She will lead the organization's work to advocate for public policies that help eliminate barriers to education, financial stability, health and basic needs in our community. Goodpaster previously served as director of public policy and advocacy for the Marion County Commission on Youth.