Regionality wrote:I guess I meant IBR and the schools' equivalents...people are always comparing and contrasting different schools public-interest loan repayment assistance programs. Aren't there differences in execution, amount, requirements, etc?
You mean the LRAPs? I don't know a whole lot about Wisconsin's LRAP but I did look into Iowa's. They're in the process of a capital drive to raise funds for their main LRAP program. They're also rewriting it so things are a bit tenuous.
They kind of have three different LRAPs: 1) up to $12k in Iowa Foundation Loan forgiveness for those who do PI work for at least three years (this only goes towards Iowa Foundation Loans which are allocated during the financial aid process with a max of $4k/year, not Staffords or GradPLUS), 2) up to $12k in Iowa Foundation Loan forgiveness for those who work in Iowa for at least three years (this only goes towards Iowa Foundation Loans, not Staffords or GradPLUS), 3) a more traditional LRAP program which can be used towards your federal loans for PI/PS work.
Part of the reason I turned down Iowa is that compared to my other option, Iowa's LRAP was kind of lacking. There's a selection process to receive LRAP funds so there's no guarantee you would receive any money from them to help with payments. When I visited last month I asked how many people applied and how many actually got money as well as how much money each person received. They couldn't really give me this information, nor could they give me information as to what the new LRAP would look like because it hasn't been decided yet. Things were just too uncertain for me to count on that.
Take a look at Iowa's website though for better info and to double check what I've said. Like I said, I can't offer any information about Wisconsin's LRAP.