Ardeo Education Solutions is celebrating its second year in a row as an honoree on Inc. 5000’s list of fastest-growing private companies in America. Ardeo is a mission-driven public benefit company that helps colleges and universities increase enrollment and college access by taking the worry out of student and parent loans with Loan Repayment Assistance Programs (LRAPs).
Ardeo was also named in 2020 to the Center for Companies that Care Honor Roll and among the Best Places to Work in Bloomington, Ind. for the third year in a row.
“We are proud of how effectively our team has worked this year to serve colleges and universities as well as their students, especially during COVID-19,” said Peter Samuelson, Ardeo Education Solutions President. “It’s been a challenging year for everyone, and I’m so grateful to the wonderful team we’ve assembled for their unwavering dedication to our mission.”
Samuelson, who founded Ardeo in 2008, was the beneficiary of a first-of-its-kind loan repayment assistance program as a Yale University law student in the late 1980s. Realising the program could benefit undergraduate students, he founded Ardeo (formerly LRAP Association) to offer LRAPs.
“We know cost is top of mind when students are considering what college they want to attend,” Samuelson said. “Fear of debt is a big obstacle to enrollment and the life-changing impact of higher education. The loan repayment assistance program Yale offered me allowed me to attend my dream school and work for a nonprofit after graduation without worrying about how I would repay my loans. I wanted to make it possible for undergraduate students to have the same opportunity that changed my life.”
LRAPs help students and families repay federal student, parent PLUS and private alternative loans if a student’s income after graduation is modest, often $45,000 per year.
In addition to administering assistance to students, Ardeo offers marketing support, a call team that educates prospective students and families about the program, and on-campus or virtual trainings.
More than 150 colleges and universities across the country have used Ardeo’s LRAPs to impact enrollment decisions such as Franklin Pierce University in New Hampshire and Seattle Pacific University in Washington. Franklin Pierce University offers a private label LRAP, The Pierce Pledge, to all incoming freshmen, while Seattle Pacific University offers LRAP to students based on family income. Ardeo allows institutions to customise their usage to fit their needs.
Approximately one in four students enrolled said they would not have attended without LRAP, according to third-party research conducted by Credo, a higher education consulting firm.