Clarification of Debt Forgiveness

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
lawlife2010
Posts: 83
Joined: Tue Feb 16, 2010 1:08 pm

Clarification of Debt Forgiveness

Postby lawlife2010 » Sun Apr 04, 2010 5:48 pm

I am not too familiar with how this works. Do all schools allow the possibility of debt forgiveness if one goes into public service? How is public service defined?
This is probably a dumb question, but I have no idea!

lawlife2010
Posts: 83
Joined: Tue Feb 16, 2010 1:08 pm

Clarification of Debt Forgiveness

Postby lawlife2010 » Sun Apr 04, 2010 5:48 pm

I am not too familiar with how this works. Do all schools allow the possibility of debt forgiveness if one goes into public service?
Last edited by lawlife2010 on Sun Apr 04, 2010 9:54 pm, edited 1 time in total.

cavebat2000
Posts: 238
Joined: Fri Jan 15, 2010 12:08 pm

Re: Clarification of Debt Forgiveness

Postby cavebat2000 » Sun Apr 04, 2010 5:51 pm

lawlife2010 wrote:I am not too familiar with how this works. Do all schools allow the possibility of debt forgiveness if one goes into public service? How is public service defined?
This is probably a dumb question, but I have no idea!


1. Google "IBR"
2. Google "LRAP" + law school name
3. Google "Public Interest"
4. $$$


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NU_Jet55
Posts: 977
Joined: Fri Dec 11, 2009 6:54 pm

Re: Clarification of Debt Forgiveness

Postby NU_Jet55 » Sun Apr 04, 2010 9:03 pm

lawlife2010 wrote:I am not too familiar with how this works. Do all schools allow the possibility of debt forgiveness if one goes into public service? How is public service defined?
This is probably a dumb question, but I have no idea!

Q1) No
Q2) Call the school in question and ask

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legalease9
Posts: 623
Joined: Tue Mar 23, 2010 8:41 pm

Re: Clarification of Debt Forgiveness

Postby legalease9 » Sun Apr 04, 2010 9:06 pm

NU_Jet55 wrote:
lawlife2010 wrote:I am not too familiar with how this works. Do all schools allow the possibility of debt forgiveness if one goes into public service? How is public service defined?
This is probably a dumb question, but I have no idea!

Q1) No
Q2) Call the school in question and ask


Absolutely correct. Fortunately, the feds will allow total federal loan debt forgiveness after 10 years if you do PI. Plus the payments can be limited to 15 percent of your income.

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holydonkey
Posts: 1184
Joined: Fri Dec 18, 2009 1:40 pm

Re: Clarification of Debt Forgiveness

Postby holydonkey » Sun Apr 04, 2010 9:12 pm

To my knowledge, none of the schools in your profile list have an LRAP.

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YCrevolution
Posts: 4714
Joined: Sat Oct 25, 2008 1:25 am

Re: Clarification of Debt Forgiveness

Postby YCrevolution » Sun Apr 04, 2010 10:10 pm

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