Tales of Tools and Tactics: Loan assistance for careers in social good

Tools and Tactics are replicable templates Connectors can use to multiply and amplify action and collaboration in their communities. We find they also make for great stories about people all over the world who are promoting good in interesting ways.

College debt can greatly affect the career paths of recent graduates concerned about paying back their loans. New York University’s Stern School of Business recognized this issue and developed a loan assistance program for MBA graduates working for the public good.

Through the program, alumni earning $100,000 or less while working for a nonprofit or social enterprise can receive as much as $15,000 annually towards their school loans.

Our Tool and Tactic on the subject can tell you more about instituting this benefit at your school, and this article on Stern’s website, featuring alumna Dorrit Lowsen, is a perfect case study in how the positive effects of the program can be felt beyond graduates’ bank accounts. Lowsen, a 2008 Stern MBA graduate, has spent the last few years living and working in different countries as an IT project consultant for social enterprises:

Dorrit NYU

Dorrit Lowsen (photo via NYU Stern School of Business)

“I’m incredibly thankful to Stern for recognizing the importance of nonprofit work and for supporting alumnae like me who sometimes forgo larger salaries in more traditional industries to do other meaningful work. Because of the Loan Assistance Program, my decision to switch career tracks into the social enterprise sector went from a tough choice to a no-brainer. ”

Read the rest of Dorrit’s story here, and check out the loan assistance Tool and Tactic here.

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