Thursday, March 24, 2011

Student Loan Repayment Plans

For students interested in automotive or diesel technology there are two Student Loan Repayment Plans available for you to consider.

CARS (sponsored by the Automobile Dealers Association of ND) & PLOW (sponsored by the ND Implement Dealers Association) are both available for students who graduate from an appropriate technical program, and who become employed by an automobile dealer who participates with one of these programs.

The information below applies to both the CARS & the PLOW programs:
  • Student meets with a participating dealer to discuss potential job opportunities.
  • Dealer discusses with the student the type of education that would be most appropriate for the position being sought by the student.
  • Student enrolls in school and begins an appropriate course of study. The student is responsible for acquiring adequate funding.
  • Upon graduation the student can apply for employment with participating dealerships. if the student is hired by a participating dealership, the student may be entitled to participate in the CARS or PLOW student loan repayment programs. If the student remains employed by the employer for the first five years the employer will make $150 payments on the student loan, and if employment is continued-in years 6-10-the employer will make $2500 yearly payments on the student loan.
For brochures, a list of participating dealerships or additional information please contact Matthew C. Larsgaard at: 1-800-752-5591 or mlarsgaard@ndida.com, or visit the following websites:

www.ndida.com/plow
www.adand.com/cars

Matching Scholarships ($1000) are also available for students in auto and diesel tech as well as any major that would be relevant to a dealership. Contact Matthew for information on this as well.

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