Article Provides Road Map to Improved Law School Loan Repayment Assistance Programs
For many years, student debt has been a major obstacle for public interest–minded lawyers. Law school based loan repayment assistance programs (LRAPs) have helped make public service work a viable choice for attorneys. However, comprehensive LRAPs are expensive and, without adequate funding, most law school LRAPs provide only modest benefits to a fraction of the public interest lawyers struggling with student loans.
If you want to leverage the federal support of the College Cost Reduction and Access Act (CCRAA) to create or improve a law school based Loan Repayment Assistance Program consider this. In their article Coordinating Law School Loan Repayment Assistance Programs with New Federal Loan Repayment and Forgiveness Legislation, Professor Philip G. Schrag and Assistant Dean for Financial Aid Charles Pruett of Georgetown University Law Center offer a road map for those interested in coordinating law school LRAP benefits with the Public Service Loan Forgiveness and Income-Based Repayment Programs established by the College Cost Reduction and Access Act. The authors review the increased debt burden for law graduates and the efforts of law schools to create Loan Repayment Assistance Programs, and identify policy issues for law schools to consider in light of the federal programs. The authors also created a companion calculator that schools may use to project the costs of new or revised LRAP programs.
The passage of the CCRAA should encourage law schools to evaluate their current LRAPs, consider design changes to ensure that LRAP benefits compliment Public Service Loan Forgiveness and Income-Based Repayment benefits, and recognize the importance of a continued commitment to preserving or enhancing LRAP funding.Back to
For media inquiries, please contact:
Interim Director of Communications
Recent blog posts
- 2016 Equal Justice Works Public Interest Award Winners!
- Equal Justice Works Welcomes Sara Morello as Executive Vice President
- Success Story: VISTA Affordable Housing Preservation Project
- Student Debt Basics: Income-Driven Repayment Plans
- "I chose to join AmeriCorps...because I wanted to challenge myself to do something meaningful and purposeful."
- How has @AmeriCorps changed my life? Anna Cupito shares her story.
- The Truth About Loan Forgiveness, Cancellation and Discharge
- Now Accepting Applications for the 2016 Equal Justice Works Public Interest Awards
- David Stern Advocates for Public Service Loan Forgiveness in Response to New York Times Editorial
- Rosenwald: Coming Soon to a Theatre Near You