Public Interest Law loan forgiveness

Sheri123

I was just curious if anyone knows much about the loan forgiveness for those who opt to practice public interest law. Is it a program sponsored by the individual schools, the employers (gvmt, non-profit etc)? Do you know if there are a lot of restrictions involved? Is anyone planning on utilizing this option?

stepharizona

Each school is different with their requirements. The PSLF program from the gov is as follows: You must be employed full-time by a qualifying employer when you make each of the required 120
qualifying payments on your Direct Loans, and also at the time you apply for loan forgiveness after
making the last of those 120 payments, and when you receive loan forgiveness. The main problem with PSLF is usually by 10 years you've already paid back the bulk, if not all of the loan. These are where the school programs are nice. They often reimburse up to a certain salary level, but that varies by school. Here is more info on PSLF https://studentaid.ed.gov/sa/sites/default/files/public-service-loan-forgiveness-common-questions.pdf

trickdaddy69

Maybe you shouldn't borrow money that you can't pay back without some sort of handout. Just saying.

DumbHollywoodActor

@westerhoff93 welcome to 7sage. We try really hard to be productive on these forums. Sometimes, that does require offering a little tough love. Your first attempt at contributing to the forum was neither productive nor tough love unfortunately. I think it's safe to say that when you have an impulse to utter the phrase, "just saying" after offering your opinion, the wiser policy will be to refrain from uttering such an opinion. Hope to see you participating on here in a more productive way in the future.

Pacifico

Maybe PI lawyers should be paid a wage commensurate with their contribution to society and their workload. Just saying.

trickdaddy69

Was not my intention to be rude. My apologies.

Pacifico

He's not angry... he's just disappointed...

trickdaddy69

Kind of like how you felt when your anal cherry got popped and you didn't get a reach around?

User was banned for this comment.

Pacifico

@westerhoff93 said:
Kind of like how you felt when your anal cherry got popped and you didn't get a reach around?

No, not at all like that. He is and always has been a consummate gentleman and a scholar.

Pacifico

@Sheri123 this is a good place to start for school specific info all in one place: https://apps.americanbar.org/legalservices/probono/lawschools/pi_lrap.html

I'd also recommend reaching out to some of the PI student organizations in the Triangle to get some advice from people getting into that arena in your area.

trickdaddy69

Can't wait for people to realize you got a 163 on the LSAT and stop paying for you to tutor them.

trickdaddy69

Plus half the stuff you post is just flat out wrong or incoherent.

Pacifico

@westerhoff93 said:
Can't wait for people to realize you got a 163 on the LSAT and stop paying for you to tutor them.

People do realize that as it is public knowledge in our tutor listings, hence your access to the information. Never been an issue with any prospective clients so it's not an issue for me.

@westerhoff93 said:
Plus half the stuff you post is just flat out wrong or incoherent.

Glad you've had the chance to sift through at least 900 comments in barely a day. If there's anything you're having trouble with just let us know!

Jonathan Wang

On topic, the way school programs usually work is that they lend you money to pay off your federal loans, and then they forgive what they've lent you. Some schools forgive that amount on a yearly basis (Harvard), and some only forgive the loan after a certain amount of time has passed (Columbia makes you pay them back in full if you leave qualifying employment before 3 full years, forgives 33% after year 3, 66% after year 4, and 100% after year 5). These normally get spread over the default 10-year repayment window. These are also usually subject to your earnings level - for example, Columbia makes you contribute 50% of what you earn above 50K, while some other schools are more generous. Policies vary greatly by school, so you really need to do your homework. If there's no page on their website with the relevant info, pick up the phone and call, and make sure to ask for details. If possible, see you if you can get a copy of the terms and conditions of the loan; Columbia has a PDF copy right on its website, for example.

One other thing - ten years is a LONG time. I know it's what you think you want to do forever, but it's completely unforeseeable what'll happen in the future. Assuming you even find qualifying employment in the first place (and that differs by school as well, so be SURE to ask what qualifies), it may not even be your choice to leave qualifying employment, or there might be an opportunity too good for you to pass up. You need to make sure you can handle the financial consequences if you don't make it to the end of the rainbow, because they'll drop on you all at once. Don't just assume a strong loan repayment assistance program means a de facto free trip to law school. I'd say to treat it as a bonus if all the pieces fall into place, but not to flat rely on it to pay for law school.

Sheri123

Thank you so much Jonathan Wang, Pacifico, and DumbHollywoodActor I appreciate you guys and the contribution you make with the 7Sage community.

kennedybj

I believe Duke forgives loans if you make less than $60,000 a year for 10 years

kennedybj

But I do believe that there are individual schools willing to give scholarships if you go into PI

Sheri123

Thanks kennedybj

GSU Hopeful

If I'm not mistaken, and someone please correct me if I am, but Emory was running a program at one point that they would pay your first years loan payments if you enter PI or a judicial clerkship. But, I think this was more or less to aid their lagging employment numbers and no so much because you're going into PI. Other schools might be/starting doing the same thing. Its not total forgiveness, but at least its a little something.

Sheri123

Thanks GSU Hopeful!

GSU Hopeful

No prob.