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Feature Image h/t Wyoming Catholic College website
Today, December 11th 2019, Lander’s Wyoming Catholic College announced that they will offer student loans through lending partner Notre Dame Federal Credit Union.
Most colleges and universities receive significant federal dollars through student loan programs. However, in 2015, WCC’s Board of Directors decided to forgo participation in the Federal Student Loan and Grant Program – meaning the college chose not to receive any federal funding. So, up until now, WCC’s student loan program has been self-funding and very costly to the institution.
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However, the cost was a deliberate decision on the College’s part. By choosing to decline federal funding, Wyoming Catholic has remained free of federal regulation.
Today’s release states that “the College would have been able to use those funds [federal student loan programs] to solidify its financial positions. But accepting them meant also accepting an agenda that gravely threatened the traditional exercise of religious liberty.” Since 2015, the College has issued its own student loans and matched the low interest rates offered through government loans. WCC says they knew this wasn’t sustainable if it wanted to grow as an institution.
WCC President, Dr. Glenn Arbery, shared that with “the support of our students and their families and with the help of Notre Dame Federal Credit Union, we will receive the same payment for our services that our peers receive, and on terms very similar to those provided by the government’s subsidized programs. Yet these payments will be possible without the strings and the federal overreach that so dangerously accompany those funds.”
Notre Dame FCU is not affiliated with the University of Notre Dame.
Read the full release from Wyoming Catholic College here.
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