T-14 LRAP Overview

[fliptrip]

Straight from the NYU Financial Aid Office:

"The $20,000 is your net worth. It will be calculated using your assets and debt. Your student loans will be factored into the calculation."

So in other words, yes, you can save up for a house if you're on IBR.

Thanks I'll update.

[fliptrip]

1. Thanks so much to fliptrip for making this. He's clearly a person who could get you a toe by 3:00...with nail polish.

2. Wondering if it might make sense to create a second Columbia entry since the programs are so different. Sorry to create extra work and happy to contribute if I can.

3. On Columbia, does anyone know when you have to decide which program to do and whether there is any switching between the programs?

4. Irrelevant comment on the net worth cap that may be of interest to those of you interested in poverty related law...the asset limit for people on SSI (safety net program for poor disabled or elderly people with limited work histories) is $2,000 except for some statutorily excluded resources with NO consideration of debt. Just to put things in perspective before we get too annoyed by this policy...

The only real distinguishing feature between the two CLS tracks is the income/support dimension which I think is captured well enough on the sheet. The CLS LRAP document isn't really clear about timing and switching between the two payment tracks. If someone's willing to email them to ask, that would be terrific. As I read it now, you basically choose how you want to handle things when you enter and if you think you might be interested in switching between the two tracks, you opt into CLS' traditional LRAP and still put your loans on IBR. You'll get CLS' extra help as long as you're chipping in what they expect you to in order to pay your loans on a 10-year am. If you choose at some point you don't want to pay that much, you just stop and you pay only what is necessary to get you to your IBR, which will more than likely be at least some amount of money. You lose the higher income threshold for support, but you do gain the flexibility. That's just my reading, though.

e: forget about the f'in toe!

[seagan823]

Straight from the NYU Financial Aid Office:

"The $20,000 is your net worth. It will be calculated using your assets and debt. Your student loans will be factored into the calculation."

So in other words, yes, you can save up for a house if you're on IBR.

Thanks for calling about this. Huge relief.

[benwyatt]

Hey flip, thanks for putting this together.
Not sure if it's been pointed out elsewhere ITT but Duke's LRAP is also a two-tiered system where Tier II gets screwed a bit if the program, for whatever reason, is low on funding.

It may never prove to be an issue, but I think it's worth including.

[chicharon]

Tag. Thank you, OP.

[TheKisSquared]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

[thelincolnlawyer]

I also have a clarification question for someone smarter than me to figure out (or who knows firsthand). Does anyone know how positions like JAG are treated by LRAP programs? The base pay is roughly $40-50K starting out but they are given non-taxable allowances for housing, food, hazard pay, etc. All in all, these make the total compensation package closer to $100K or maybe even a little higher depending on where you live. Do they take these in to account when measuring your eligibility or are they strictly based on your taxable income? TYIA.

[RZ5646]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

For which school's program? AFAIK, government work doesn't even need to be law-related to qualify for some programs (e.g., HLS's).

[somethingElse]

Yeah both of those above questions are school-specific (or at the least, IBR/PSLF vs. each of HYSC specific).

[TheKisSquared]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

For which school's program? AFAIK, government work doesn't even need to be law-related to qualify for some programs (e.g., HLS's).

Columbia specifically, I guess. but If this is too much into the weeds I'm happy to discuss elsewhere

[somethingElse]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

For which school's program? AFAIK, government work doesn't even need to be law-related to qualify for some programs (e.g., HLS's).

Columbia specifically, I guess. but If this is too much into the weeds I'm happy to discuss elsewhere

All the document says is that the position must, in either the public interest or public service sectors (the latter being defined as government work), "make direct use of one's legal education." Are there particular positions you had in mind?

[Nebby]

This is amazing and I added a link to it in my PI megathread for prospective students

[TheKisSquared]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

For which school's program? AFAIK, government work doesn't even need to be law-related to qualify for some programs (e.g., HLS's).

Columbia specifically, I guess. but If this is too much into the weeds I'm happy to discuss elsewhere

All the document says is that the position must, in either the public interest or public service sectors (the latter being defined as government work), "make direct use of one's legal education." Are there particular positions you had in mind?

not really, just curious!

[Nebby]

Quick clarification question generally - when it says government work is eligible for LRAP, are there any known restrictions on the types of positions beyond "law-related"?

edit: How is this not stickied yet :p

For which school's program? AFAIK, government work doesn't even need to be law-related to qualify for some programs (e.g., HLS's).

Columbia specifically, I guess. but If this is too much into the weeds I'm happy to discuss elsewhere

All the document says is that the position must, in either the public interest or public service sectors (the latter being defined as government work), "make direct use of one's legal education." Are there particular positions you had in mind?

not really, just curious!

It means a JD required gov't job

[silverdoe91]

If it says $0 for the monthly payment that means your school pays the entire amount for you? How come there isn't a tab for $80k or less?

[somethingElse]

If it says $0 for the monthly payment that means your school pays the entire amount for you? How come there isn't a tab for $80k or less?

Correct they will pay your entire amount for you if it says 0; The tabs are for specific salaries and what your payments and debt balance would be like as you progress through the various LRAPs at those specific salaries. There isn't a tab for "80k or less" because 1) This is a spreadsheet for the entire T14 and 80k or less doesn't necessarily apply to all of them (i.e. some have caps that are lower/higher) and 2) Basically what I said earlier but having a tab for 80k or less doesn't allow you to pinpoint exact salaries and that's the entire point of those tabs. So 80k or less (or any salary range) misses the point of what the tabs are trying to illustrate and doesn't allow you to apply the same data.

[silverdoe91]

If it says $0 for the monthly payment that means your school pays the entire amount for you? How come there isn't a tab for $80k or less?

Correct they will pay your entire amount for you if it says 0; The tabs are for specific salaries and what your payments and debt balance would be like as you progress through the various LRAPs at those specific salaries. There isn't a tab for "80k or less" because 1) This is a spreadsheet for the entire T14 and 80k or less doesn't necessarily apply to all of them (i.e. some have caps that are lower/higher) and 2) Basically what I said earlier but having a tab for 80k or less doesn't allow you to pinpoint exact salaries and that's the entire point of those tabs. So 80k or less (or any salary range) misses the point of what the tabs are trying to illustrate and doesn't allow you to apply the same data.

I see, thanks for the explanation! How do I know at which point I'll start paying and how much?

[somethingElse]

If it says $0 for the monthly payment that means your school pays the entire amount for you? How come there isn't a tab for $80k or less?

Correct they will pay your entire amount for you if it says 0; The tabs are for specific salaries and what your payments and debt balance would be like as you progress through the various LRAPs at those specific salaries. There isn't a tab for "80k or less" because 1) This is a spreadsheet for the entire T14 and 80k or less doesn't necessarily apply to all of them (i.e. some have caps that are lower/higher) and 2) Basically what I said earlier but having a tab for 80k or less doesn't allow you to pinpoint exact salaries and that's the entire point of those tabs. So 80k or less (or any salary range) misses the point of what the tabs are trying to illustrate and doesn't allow you to apply the same data.

I see, thanks for the explanation! How do I know at which point I'll start paying and how much?

It depends on the school and how they choose to define their LRAP.

[dietcoke1]

bumping. useful spreadsheet for this cycle

[pipipipi]

Any international students with experience of LRAP?

[brinicolec]

bumping. useful spreadsheet for this cycle

Any idea if any of these have changed since last year?

[cavalier1138]

bumping. useful spreadsheet for this cycle

Any idea if any of these have changed since last year?

They should all be the same. I don't foresee any major changes to these programs unless PSLF is significantly altered.

[katthegreat11]

So the benefit of the LRAP programs at HYS is that they aren't reliant on PSLF funds (so no danger of being eliminated by fed govt), which means you don't need to do PI/govt work for the full 10 years/jump through all the hoops involved with those programs?

[Kummel]

So the benefit of the LRAP programs at HYS is that they aren't reliant on PSLF funds (so no danger of being eliminated by fed govt), which means you don't need to do PI/govt work for the full 10 years/jump through all the hoops involved with those programs?

+CLS yea. Also I think all 4 don't kick you off at any income level. UVA if you ever earn more than 80k I think you no longer can be enrolled in the program

[katthegreat11]

So the benefit of the LRAP programs at HYS is that they aren't reliant on PSLF funds (so no danger of being eliminated by fed govt), which means you don't need to do PI/govt work for the full 10 years/jump through all the hoops involved with those programs?

+CLS yea. Also I think all 4 don't kick you off at any income level. UVA if you ever earn more than 80k I think you no longer can be enrolled in the program

So if you work in PI and over the course of 10 years get raises up to $120k or whatever they don't kick you off? That's insanely amazing.