Which schools have LRAP that is independent of fed gov't?

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brinicolec
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Which schools have LRAP that is independent of fed gov't?

Postby brinicolec » Wed Feb 01, 2017 10:59 pm

I believe I remember my LS advisor in college saying NYU might be one these schools, but I'm not sure and I can't lie, a lot of the language about these programs is currently going over my over-stressed head lol

cavalier1138
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Re: Which schools have LRAP that is independent of fed gov't?

Postby cavalier1138 » Thu Feb 02, 2017 6:28 am

All schools' LRAP is independent of the government, but most schools only pay based on an IBR payment schedule, which usually assumes PSLF for PI jobs.

Only HYS and Columbia offer truly independent LRAP programs. NYU has one, but they only allow you to use it if you're working a PI job that wouldn't qualify for PSLF (so it's rarely invoked). Bear in mind that almost all the T14 had LRAP programs prior to PSLF, and at least all the financial aid offices I talked to said that they would switch back to the old programs if PSLF were eliminated (or capped, etc.). I know that when NYU was asked about the possibility, the financial aid office specifically said that their only goal is to make sure that all students are debt-free within 10 years, regardless of whether the government is offering full loan forgiveness at that point. I've heard that Berkeley made similar statements.

If this is a major concern for you, I'd ask the financial aid office directly at any school you're considering. They're aware of the possibility, and they should be able to give you some idea of what would happen in the absence of PSLF.

katthegreat11
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Re: Which schools have LRAP that is independent of fed gov't?

Postby katthegreat11 » Thu Feb 02, 2017 10:30 am

Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

cavalier1138
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Re: Which schools have LRAP that is independent of fed gov't?

Postby cavalier1138 » Thu Feb 02, 2017 1:15 pm

katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?


The school's LRAP program will mention that you have to be on the IBR schedule or in a qualifying job. But you can also just know that HYS, Columbia and kinda-NYU are the only schools that even offer non-IBR options anymore.

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A. Nony Mouse
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Re: Which schools have LRAP that is independent of fed gov't?

Postby A. Nony Mouse » Thu Feb 02, 2017 1:18 pm

katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

Ask the financial aid people what their LRAP will look like if PSLF goes away.

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brinicolec
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Re: Which schools have LRAP that is independent of fed gov't?

Postby brinicolec » Thu Feb 02, 2017 3:29 pm

A. Nony Mouse wrote:
katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

Ask the financial aid people what their LRAP will look like if PSLF goes away.


Do you think most schools have a backup plan already? This is a question I intend to ask, but I'm waiting until I get acceptances/go visit.

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brinicolec
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Re: Which schools have LRAP that is independent of fed gov't?

Postby brinicolec » Thu Feb 02, 2017 3:30 pm

cavalier1138 wrote:All schools' LRAP is independent of the government, but most schools only pay based on an IBR payment schedule, which usually assumes PSLF for PI jobs.

Only HYS and Columbia offer truly independent LRAP programs. NYU has one, but they only allow you to use it if you're working a PI job that wouldn't qualify for PSLF (so it's rarely invoked). Bear in mind that almost all the T14 had LRAP programs prior to PSLF, and at least all the financial aid offices I talked to said that they would switch back to the old programs if PSLF were eliminated (or capped, etc.). I know that when NYU was asked about the possibility, the financial aid office specifically said that their only goal is to make sure that all students are debt-free within 10 years, regardless of whether the government is offering full loan forgiveness at that point. I've heard that Berkeley made similar statements.

If this is a major concern for you, I'd ask the financial aid office directly at any school you're considering. They're aware of the possibility, and they should be able to give you some idea of what would happen in the absence of PSLF.



Thanks for the info! I plan on asking schools I'm accepted to when I visit (or call them if they're not on my list of schools I need to visit).

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studentloanplanner
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Re: Which schools have LRAP that is independent of fed gov't?

Postby studentloanplanner » Fri Feb 03, 2017 2:53 pm

brinicolec wrote:
A. Nony Mouse wrote:
katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

Ask the financial aid people what their LRAP will look like if PSLF goes away.


Do you think most schools have a backup plan already? This is a question I intend to ask, but I'm waiting until I get acceptances/go visit.


My guess is that only the top 5 schools will have the financial capacity to do anything significant if PSLF gets repealed. Almost all of the LRAP programs completely depend upon the continued existence of PSLF

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Kummel
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Re: Which schools have LRAP that is independent of fed gov't?

Postby Kummel » Fri Feb 03, 2017 3:09 pm

studentloanplanner wrote:
brinicolec wrote:
A. Nony Mouse wrote:
katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

Ask the financial aid people what their LRAP will look like if PSLF goes away.


Do you think most schools have a backup plan already? This is a question I intend to ask, but I'm waiting until I get acceptances/go visit.


My guess is that only the top 5 schools will have the financial capacity to do anything significant if PSLF gets repealed. Almost all of the LRAP programs completely depend upon the continued existence of PSLF


I asked this two years ago to Michigan and they said "we are committed to finding a solution if that does happen."

according to CLS, the main LRAP program is independently fully-funded, and you're default enrolled in that program. if you want the higher income contribution level (100k) you can request to be on the PSLF/LRAP program, but they made it clear that if you choose that option you're stuck with whatever happens to PSLF, so it is heavily encouraged to not choose that option

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studentloanplanner
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Re: Which schools have LRAP that is independent of fed gov't?

Postby studentloanplanner » Thu Feb 16, 2017 5:05 pm

DCfilterDC wrote:
studentloanplanner wrote:
brinicolec wrote:
A. Nony Mouse wrote:
katthegreat11 wrote:Great question. How can we even find that out? Just if they don't mention PSLF on their website at all?

Ask the financial aid people what their LRAP will look like if PSLF goes away.


Do you think most schools have a backup plan already? This is a question I intend to ask, but I'm waiting until I get acceptances/go visit.


My guess is that only the top 5 schools will have the financial capacity to do anything significant if PSLF gets repealed. Almost all of the LRAP programs completely depend upon the continued existence of PSLF


I asked this two years ago to Michigan and they said "we are committed to finding a solution if that does happen."

according to CLS, the main LRAP program is independently fully-funded, and you're default enrolled in that program. if you want the higher income contribution level (100k) you can request to be on the PSLF/LRAP program, but they made it clear that if you choose that option you're stuck with whatever happens to PSLF, so it is heavily encouraged to not choose that option


I would press them more on what their ideas for a solution would look like. I don't think state law schools even the elite ones have hundreds of thousands to throw at tuition relief for their public interest lawyers. It's not like the 1990s when tuition was 1/4 of the level it is today. They'd have to cut faculty and reduce tuition or cut seats I think




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