Comparison of LRAP Programs for T14 Schools

A Loan Repayment Assistance Program helps law school graduates pay off their student loans. We’ve compiled data on T14 LRAP programs with help from the Financial Justice Coalition, a student initiative at Harvard Law School. Please note that this information may have errors or be out of date, so you should double-check with the schools.

To see this information in spreadsheet form, click here.

Table of Contents (USNWR Rank/School)

1/ Yale University (CT)
2/ Stanford University (CA)
3/ Harvard University (MA)
4/ University of Chicago
5/ Columbia University (NY)
6/ New York University
7/ University of Pennsylvania
8/ University of Michigan
9/ University of California—Berkeley
9/ University of Virginia
11/ Duke University (NC)
11/ Northwestern University (IL)
13/ Cornell University (NY)
14/ Georgetown (DC)

Yale

Program Title: COAP

Program URL: https://law.yale.edu/admissions/cost-financial-aid/post-graduate-loan-repayment/about-coap

Eligible Loans: All need-based loans taken to finance JD degree along with up to $30,000 of need-based undergraduate debt. Includes up to $10,000 for bar loans, and clerkship loan up to $10,000/year for two years.

Program Duration: 10 years post-graduation.

Application Timing: Can apply at anytime within ten years of your graduation from YLS.

Eligible Employment: All employment is eligible. Eligibility is determined by income and debt.

Clerkship Support: Clerks are eligible to receive a COAP loan at the YLS loan interest rate. If you then move into COAP eligible employment, that loan will be rolled into what's covered by COAP.

Amortization Basis: IBR is not required. YLS uses an imputed repayment schedule that uses a 15-year am for the first five years and a five year am for the final five.

Negative Amortization Risk: No.

Upper Income Limit: None.

Contribution/Support Schedule:

<$50k: None.

$50-$65k: 15% of income over $50k;

$65-$80k: $2,250 + 30% of income over $65k;

>$80k: $6,750 + 60% of income over $80k.

Asset Allowances:

$6,000 + $6,000 x years in COAP are excluded for income calculation purposes. Retirement accounts are also excluded.

$6,000 + $6,000 x years in COAP are excluded for income calculation purposes. Retirement accounts are also excluded.

Spousal Support Calculation: $40,000 of spousal income is excluded along with any educational loan payments made by the spouse.

Dependent Deduction: $8,000 per dependent plus up to $17,000 for "reasonable" expenses for dependent care.

Negative Amortization Protection: N/A

Stanford

Program Title: LRAP

Program URL: https://law.stanford.edu/apply/tuition-financial-aid/loan-repayment-assistance-program-lrap/

Eligible Loans: All need-based educational loans, including all graduate and undergraduate debt with no limit. Includes up to $10,000 for bar loans.

Program Duration: 10 years post-graduation.

Application Timing: Can apply at anytime within five years of the January after your graduation from SLS.

Eligible Employment: Law related jobs in 501 c(3) or (4) or (5) organizations; government work; political campaign; private employers with at least half time being pro bono work.

Clerkship Support: Clerks who intend to enter LRAP eligible employment afterwards can receive an LRAP loan that is forgiven if they enter LRAP eligible employment immediately afterwards.

Amortization Basis: IBR is not required, 10-year straight am.

Negative Amortization Risk: No.

Upper Income Limit: None.

Contribution/Support Schedule:

<$50k: None.

$50k-$65k: 15% of income over $50k;

$65k-$80k: $2,250 + 50% of income over $65k;

$80k: $9,750 + 60% of income over $80k

Asset Allowances:

Any physical or financial assets over $130,000 are counted as income.

$1,000 x years in public interest employment is deducted from income.

Spousal Support Calculation: Higher of individual income or half the joint income. Spouse educational loan payments are excluded from income calculations.

Dependent Deduction: $8,000 per dependent, no additional childcare deduction.

Negative Amortization Protection: N/A

Harvard

Program Title: LIPP

Program URL: https://hls.harvard.edu/dept/sfs/lipp/

Eligible Loans: All need-based loans taken to finance JD degree along with up to $30,000 of need-based undergraduate debt. Includes up to $10,000 for bar loans. Loans taken in pursuit of a dual degree with another HU grad school are also eligible.

Program Duration: As long as the student is paying eligible educational loans.

Application Timing: Can apply at any time you are paying eligible loans and are eligible for LIPP.

Eligible Employment: Any jobs in government, non-profit, academic organizations are eligible along with law related jobs with for-profit organizations.

Clerkship Support: Clerks are eligible to receive LIPP loans at the current rate for HLS loans. This loan is forgiven if you enter LIPP eligible employment immediately after the clerkship and stay as long as you were in the clerkship.

Amortization Basis: IBR is not required. 10-year straight am.

Negative Amortization Risk: No.

Upper Income Limit: None.

Contribution/Support Schedule:

<$48k: None.

$48k-$54k: 20% of amount over $48k;

$54k-$126k: $1,200 + 40% of amount over $54,000

$126k and above: $30,000 + 80% of amount over $126,000

Asset Allowances:

$10,000 + $10,000 x number of years in LIPP + $10,000 x number of years between college and law school are shielded as being assessed as assets. The % of assets that are assessed for income purposes is not clear. Asset protection is doubled if married.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two. Spousal student loan payments are excluded from income.

Dependent Deduction: $8,000 per child plus expenses for child care up to $20,000.

Negative Amortization Protection: N/A

Chicago

Program Title: LRAP

Program URL: https://www.law.uchicago.edu/financialaid/LRAP

Eligible Loans: All need based loans taken out for attendance at Chicago only. No bar loans and no undergraduate loans.

Program Duration: 10 years post-graduation.

Application Timing: Can apply anytime within the 10-year window post-graduation.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships are qualifying employment.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: $80000

Contribution/Support Schedule:

All IBR payments are covered if you make less than $80,000.

Asset Allowances:

None. All that is considered is AGI.

Spousal Support Calculation: None. All that is considered is AGI.

Dependent Deduction: None. All that is considered is AGI.

Negative Amortization Protection: School offers $10,000 to compensate for negative amortization upon early exit from the program.

Columbia

Program Title: LRAP

Program URL: https://www.law.columbia.edu/financial-aid/lrap-public-interest-lawyers

Eligible Loans: All need based loans taken out for attendance at Columbia Law only. Includes private loans. Includes up to $10,000 for bar loans.

Program Duration: 10-years from December 31st after student's graduation from CLS. Loans are forgiven on a sliding scale that requires at least 3 years in qualifying employment.

Application Timing: Can apply up to seven years after graduation.

Eligible Employment: Law related work in a non-profit or governmental entity. Work in a for-profit entity that is comparable to that done by a non-profit will be considered for LRAP by the law school.

Clerkship Support: Clerks can receive LRAP benefits. Clerks who go on to LRAP-eligible employment have the interest on their loan forgiven and the loan is treated as a regular LRAP loan.

Amortization Basis: Borrower can choose straight-am or IBR; straight-am has lower income thresholds than IBR.

Negative Amortization Risk: Yes, if IBR/PSLF route is chosen.

Upper Income Limit: None.

Contribution/Support Schedule:

Straight Am

<$55k: None.

$55k+: 34.5% over $55k

IBR

<$100k: None.

$100k+: 34.5% over $100k

Asset Allowances:

No specific asset allowances are mentioned. If "significant" assets are discovered on tax returns, further information will be required. Undergraduate loan payments are deducted from income determinations for borrower and spouse.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the student's income and divided by two. Spousal student loan payment up to $10k is excluded from income.

Dependent Deduction: None.

Negative Amortization Protection: CLS will provide additional support if applicant agrees to make additional payments to IBR in accordance with traditional LRAP guidelines. This should prevent negative amortization, but could result in substantially higher out of pocket costs.

NYU

Program Title: LRAP

Program URL: http://www.law.nyu.edu/financialaid/lrap/program-details

Eligible Loans: All need-based loans taken out of cost of attendance at NYU Law only. Bar loans up to $10k can possibly be included.

Program Duration: 10 years post-graduation. Eligibility can be extended in certain cases for up to 24 months. Must participate at least 3 years in program to have loans forgiven.

Application Timing: Can apply anytime within 5 years of graduation.

Eligible Employment: Can apply anytime within 5 years of graduation.

Clerkship Support: Clerks can receive LRAP benefits. Clerks who go on to LRAP-eligible employment have the interest on their loan forgiven and the loan is treated as a regular LRAP loan.

Amortization Basis: IBR is required if eligible for PSLF. If not eligible for PSLF, must opt into non-integrated plan.

Negative Amortization Risk: Yes in integrated plan, no in non-integrated plan.

Upper Income Limit: None

Contribution/Support Schedule:

Integrated:

<$80k: None;

$80k+: 40% of income above $80k

Non-Integrated:

<$57k: None;

$57k+: 40% of income

Asset Allowances:

Cannot accrue more than $20,000 in net worth while in the program. All assets and all liabilities are considered in this calculation, so student loan balances are considered to offset assets. 50% of the combined net worth will be considered, if married.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two.

Dependent Deduction: None.

Negative Amortization Protection: School offers one-time payment to reset debt levels to where they would be if student were in non-integrated LRAP program.

Penn

Program Title: TolLRAP II

Program URL: TolLRAP II

Eligible Loans: All federal loans (including undergrad and other graduate) that can be consolidated and placed into IBR are eligible. Bar loans can possibly be included.

Program Duration: 10 years post-graduation. Extensions are available up to 2 years. Must participate at least 3 years to "vest" in the program.

Application Timing: Can apply anytime within the 10-year window post-graduation.

Eligible Employment: Law related work in a non-profit or governmental entity. For-profit firm work could qualify if 51% of work done by the organization is free or significantly reduced in cost. Clinical law teaching also qualifies.

Clerkship Support: Clerking is not eligible for assistance, but counts towards vesting in TollRAP Plus

Amortization Basis: IBR is not required, but repayment assistance is calculated based on IBR.

Negative Amortization Risk: Yes.

Upper Income Limit: $80,000; participants with incomes between $80k and $100k can accrue time towards TolLRAP plus.

Contribution/Support Schedule:

$80k and below: None.;

After 3 years, TolLRAP Plus provides additional support.

Asset Allowances: None.

Spousal Support Calculation: None.

Dependent Deduction: None.

Negative Amortization Protection: TolLRAP Plus provides a potential for an additional $22,800 to counter negative am.

Michigan

Program Title: LRAP

Program URL: https://goo.gl/ha2qTe

Eligible Loans: All need-based loans taken out of cost of attendance at Michigan Law only.

Program Duration: 10 total years of participation. Consecutive years of participation not required.

Application Timing: Must apply within five years post-graduation.

Eligible Employment: Law related work. Does not need to be in a non-profit or governmental entity.

Clerkship Support: Clerkships do not qualify.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: 175% of GS-11 salary scale figure. Currently ~$88,000.

Contribution/Support Schedule:

<$50k: None.

$50k-$75k: if IBR > interest pmt, grad pays some portion of principal;

$75k+: grad pays portion of interest and of principal if applicable

Asset Allowances: None.

Spousal Support Calculation: None.

Dependent Deduction: None.

Negative Amortization Protection: Yes. Michigan places unpaid accrued interest funds in a reserve account that vests after two years. Upon an early exit from LRAP, a vested graduate can draw down this reserve to reset their loans' unpaid interest.

Berkeley

Program Title: LRAP

Program URL: https://goo.gl/3zzQHe

Eligible Loans: All federal loans that can be repaid using IBR. Berkeley will set a cap at the student budget for 3-years of attendance at Berkeley Law.

Program Duration: 10 years post-graduation.

Application Timing: Must apply within 3 years of graduation.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships are qualifying employment.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: $100000

Contribution/Support Schedule:

<$65k: None.

$65k-$100k: 35% of amount above $65k.

Asset Allowances: None.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two.

Dependent Deduction: $6,000 for first child, $4,000 for additional children.

Negative Amortization Protection: None.

Virginia

Program Title: VLFP II

Program URL: http://goo.gl/HNFvtt

Eligible Loans: All need-based loans taken out of cost of attendance at UVA Law only.

Program Duration: 10 years post-program entry.

Application Timing: Must apply within two years of graduation or within two years of completing a judicial clerkship started directly after graduation. You must apply for benefits immediately after starting qualifying employment.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Only career clerkship positions are eligible.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: $75000

Contribution/Support Schedule:

<$55,000: None;

$55k-$75k: Contribution based on a sliding scale.

Asset Allowances: None.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two. Spousal student loan payments are excluded from income.

Dependent Deduction: None.

Negative Amortization Protection: None.

Duke

Program Title: LRAP

Program URL: https://goo.gl/cpWDzl

Eligible Loans: Minimum $20k in Federal loans for financing a Duke Law education.

Program Duration: 10-years post graduation.

Application Timing: Can apply at anytime within 10-year post graduation window.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships do not qualify.

Amortization Basis: Assistance is based on IBR calculations, but IBR is not required.

Negative Amortization Risk: Yes.

Upper Income Limit: $75000

Contribution/Support Schedule:

<$60k: None

$60k+: Support is inversely proportional to amount above $60k with $75k upper limit.

Asset Allowances: Assets in excess of $15,000 are assessed a percentage.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two.

Dependent Deduction: $5,000 per child.

Negative Amortization Protection: None.

Northwestern

Program Title: LRAP

Program URL: http://goo.gl/or577h

Eligible Loans: All need-based loans taken out of cost of attendance at Northwestern Law only.

Program Duration: 10-years post graduation.

Application Timing: Can apply at anytime within 10-year post graduation window, but cannot have any employment other than a clerkship or as a manager in a governmental or non-profit entity between your graduation and LRAP application.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships do not qualify.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: None.

Contribution/Support Schedule:

<$45k: None.

$45k-$55k: 25% of IBR

$55k-$65k: 50% of IBR

$65k-$75k: 75% of IBR

$75k: 100% of IBR

Asset Allowances: None.

Spousal Support Calculation: If spouse makes less, then their income is totally excluded. If spouse makes more, then their income is added to the students income and divided by two.

Dependent Deduction: $5,000 per child + $5,000 for spouse; undergraduate loan payments are deducted as well.

Negative Amortization Protection: Yes. Some unpaid interest protection is built into support schedule based on income and debt load. <$45k and $150k in debt: 75% of unpaid interest; $75k+ and $150k+ in debt: 50% of unpaid interest.

Cornell

Program Title: PILIPP II

Program URL: http://goo.gl/WLwZ8D

Eligible Loans: All federal student loans are eligible. $10,000 in Bar Loans are also eligible.

Program Duration: 10 total years of participation. Consecutive years of participation not required.

Application Timing: Can apply any time as long as 10 years of eligibility have not been exhausted.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships qualified on a retroactive basis if grad enters PILIPP II eligible employment post-clerkship.

Amortization Basis: Assistance is based on IBR calculations, but IBR is not required.

Negative Amortization Risk: Yes.

Upper Income Limit: $80000

Contribution/Support Schedule:

All IBR payments are covered if you make less than $80,000.

Asset Allowances: None.

Spousal Support Calculation: If spousal income is included on tax returns, it is considered in income calculations.

Dependent Deduction: None.

Negative Amortization Protection: None.

Georgetown

Program Title: LRAP III

Program URL: https://goo.gl/PwvK7T

Eligible Loans: All Federally guaranteed student loans and $100/month for Bar Loans.

Program Duration: 10-years post graduation.

Application Timing: Must apply within 2 years of graduation. Otherwise, the committee will require supporting documentation and make awards on a funds-available basis.

Eligible Employment: Law related work in a non-profit or governmental entity.

Clerkship Support: Clerkships do not qualify.

Amortization Basis: IBR is required.

Negative Amortization Risk: Yes.

Upper Income Limit: $75000

Contribution/Support Schedule:

All IBR payments are covered if you make less than $75,000. Beyond $75,000 support is provided on a sliding scale/diminishing basis.

Asset Allowances: None.

Spousal Support Calculation: None, but separate filing of taxes is strongly encouraged to keep IBR payment in line with LRAP support.

Dependent Deduction: None.

Negative Amortization Protection: None.

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