UVA significantly updates LRAP program

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Veyron
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Re: UVA significantly updates LRAP program

Postby Veyron » Sat Mar 19, 2011 4:22 pm

So doesn't this mean that if you DON'T last 10 years, you've got a huge debt bomb built up? IBR payments on a lowish salary would not come close to covering interest.

Also, does this affect current students and alums?

Edit: Why am I interested you may ask? If this is a meaningful improvement, Penn will probably feel pressure to step up its game, if not, it will remain confident that it has the best LRAP among peer schools. Penn takes gaming the applicant pool very seriously.
Last edited by Veyron on Sat Mar 19, 2011 4:24 pm, edited 1 time in total.

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fatduck
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Re: UVA significantly updates LRAP program

Postby fatduck » Sat Mar 19, 2011 4:23 pm

Veyron wrote:So doesn't this mean that if you DON'T last 10 years, you've got a huge debt bomb built up? IBR payments on a lowish salary would not come close to covering interest.

well, since UVA is paying your IBR payment, you could make additional payments out of pocket. but yes.

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Veyron
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Re: UVA significantly updates LRAP program

Postby Veyron » Sat Mar 19, 2011 4:25 pm

fatduck wrote:
Veyron wrote:So doesn't this mean that if you DON'T last 10 years, you've got a huge debt bomb built up? IBR payments on a lowish salary would not come close to covering interest.

well, since UVA is paying your IBR payment, you could make additional payments out of pocket. but yes.


Fuck.

Emma1
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Re: UVA significantly updates LRAP program

Postby Emma1 » Sat Mar 19, 2011 5:19 pm

"No offense, but I was told by the head of Public Services at a top 10 that this simply isn't true. Not to mention by a former federal prosecutor/Supreme Court clerk. Yes the DA and the US Attorney (for example) are politically appointed. But they DO NOT routinely "clean out" the entire staff every time a new DA or new US Attorney is elected. Think about how inefficient/stupid that would be. That would essentially mean that every 4 years or so they had to retrain their entire staff and they could never have anyone with more than around 4 years experience in the office--that's utterly ridiculous."


Well I have seen this in effect where I live. There will be differences in each state but many places in the country and particularly the Northeast routinely change their assistant da's, assistant PD's, assistant attorney generals when a new person comes into power and they are very political in the appointment process. As I stated earlier, DA's are NOT politically appointed but are ELECTED(I don't know who told you they were appointed). The US Attorney positons are politically appointed positions and the state attorney general is an elected position. The state AG's office is quite large so it depends on what positon you are in. Many attorneys get the axe there so they can bring in their own people. Others are transitioned out more slowly. Lower level positons are usually kept in tact. The only staff I am concerned about are attorney postions as they are what we are talking about. You can not count on being safe for 10 years in many states unless you pick a jurisdiction where the political party in control is unchanged for awhile or you are in a safer attorney position than others. There are so many attorneys that want these positons that they dont have a difficult time finding qualifed individuals. In the District Attorney Office closest to where I live the ADA's with a rare exception are changed along with the DA. He or she appoints their own assistant district attorneys. In larger offices ( and jurisdictions) they obviously can't change everyone but they change those closest to the District Attorney. The point is you need to do a little research into the job you are going into for possible political effects. If you think politics doesnt affect these positions you are very naive.

Emma1
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Re: UVA significantly updates LRAP program

Postby Emma1 » Sat Mar 19, 2011 5:26 pm

Veyron wrote:
fatduck wrote:
Veyron wrote:So doesn't this mean that if you DON'T last 10 years, you've got a huge debt bomb built up? IBR payments on a lowish salary would not come close to covering interest.

well, since UVA is paying your IBR payment, you could make additional payments out of pocket. but yes.


Fuck.


This is what my concern has been all along. If you don't make it for the 10 years for whatever reason you are going to have a boatload of debt!

Da Stain
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Re: UVA significantly updates LRAP program

Postby Da Stain » Sun Mar 20, 2011 2:45 pm

Emma1 wrote:"No offense, but I was told by the head of Public Services at a top 10 that this simply isn't true. Not to mention by a former federal prosecutor/Supreme Court clerk. Yes the DA and the US Attorney (for example) are politically appointed. But they DO NOT routinely "clean out" the entire staff every time a new DA or new US Attorney is elected. Think about how inefficient/stupid that would be. That would essentially mean that every 4 years or so they had to retrain their entire staff and they could never have anyone with more than around 4 years experience in the office--that's utterly ridiculous."


Well I have seen this in effect where I live. There will be differences in each state but many places in the country and particularly the Northeast routinely change their assistant da's, assistant PD's, assistant attorney generals when a new person comes into power and they are very political in the appointment process. As I stated earlier, DA's are NOT politically appointed but are ELECTED(I don't know who told you they were appointed). The US Attorney positons are politically appointed positions and the state attorney general is an elected position. The state AG's office is quite large so it depends on what positon you are in. Many attorneys get the axe there so they can bring in their own people. Others are transitioned out more slowly. Lower level positons are usually kept in tact. The only staff I am concerned about are attorney postions as they are what we are talking about. You can not count on being safe for 10 years in many states unless you pick a jurisdiction where the political party in control is unchanged for awhile or you are in a safer attorney position than others. There are so many attorneys that want these positons that they dont have a difficult time finding qualifed individuals. In the District Attorney Office closest to where I live the ADA's with a rare exception are changed along with the DA. He or she appoints their own assistant district attorneys. In larger offices ( and jurisdictions) they obviously can't change everyone but they change those closest to the District Attorney. The point is you need to do a little research into the job you are going into for possible political effects. If you think politics doesnt affect these positions you are very naive.


You are simply wrong. Here's why, for fun:

1. Some states appoint DAs. New Jersey for one does not have elected DAs, which if you're from the Northeast you should have known. But it's just New Jersey, right, not really a big time state :roll:

2. DAs even when elected, do not clean house. Rather, they tend to bring in people to fill positions from their old jurisdiction and begin hiring "their people." In the end, it takes a few years and they have their office, but they don't go firing every ADA. It's not feasible.

3. Nevermind the fact that your whole argument is premised on some high amount of turnover among elected DAs which generally isn't the case. The NY DAs for instance have been in their positions for decades (arguably to the detriment of the offices). Nassau's DA won an upset election and all she did was basically bring in her people for executive positions while starting to buy out the old guard to make room for her to make new hires, which is the standard practice in these situations. Boston's DA is going on 10 years. Lynne Abraham served for 20 years before not seeking re-election. Small town offices may be vastly different, but those have even less turnover than major cities.

So, yeah you may have political considerations, but you're generally going to be immune from them once you've got a job.

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suspicious android
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Re: UVA significantly updates LRAP program

Postby suspicious android » Thu Mar 24, 2011 11:38 am

Was checking out different LRAPs last night, kinda discouraged about UVA's. It sounds like a major improvement over its old system, but that $55-75k window kinda sucks. Berkeley protects everything below $65, +35% of your salary up to 100k, and GULC protects up to $75k. GULC's LRAP really surprised me, you could get a pretty decent paying job and end up not owing anything for law school. Berkeley's is almost as good. Looks like UVA beats out Penn's (which kinda sucks if I'm reading it right) and is comparable but maybe slightly better than Michigan's.

michigan_man
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Re: UVA significantly updates LRAP program

Postby michigan_man » Thu Mar 24, 2011 11:47 am

Michigan, NYU and Chicago all recently updated their LRAPs to take advantage of IBR and all three schools will help you pay the interest if you leave IBR.

michigan_man
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Re: UVA significantly updates LRAP program

Postby michigan_man » Thu Mar 24, 2011 11:51 am

Because they help you pay your interest, I think the three schools I mentioned above really blow away any other schools that have their LRAP tied to IBR, even if other schools have higher absolute caps on what their LRAP will help you cover. To me, LRAP should be a guarantee that you can take a job you love and not have to worry about being poor. So I really appreciate the extra insurance that the NYU, Chicago and Michigan programs are providing.

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suspicious android
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Re: UVA significantly updates LRAP program

Postby suspicious android » Thu Mar 24, 2011 11:59 am

michigan_man wrote:Michigan, NYU and Chicago all recently updated their LRAPs to take advantage of IBR and all three schools will help you pay the interest if you leave IBR.


This is a good point, I didn't take this into account for Michigan, probably making it better than UVA's. However, the protected income for GULC is just so much higher, it'd probably cover the increased interest costs if you were lucky enough to get a qualifying job that pays $75k.




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