oldschool123 wrote:kfischm1 wrote:Sorry for hijacking this thread, but I figured someone on here would probably know this answer. I was reading into NYU's LRAP program, which seems way better than most schools (as long as I am understanding the following correctly) I'm interpreting that under NYU's program, I could earn up to $80,000 per year and not have to make loan payments if working in qualified public interest employment?
NYU LRAP description: Why has NYU integrated LRAP with the federal Public Service Loan Forgiveness Program (PSLFP) and Income Based Repayment (IBR)? The integration of NYU’s LRAP with PSLFP and IBR will allow NYU to cover a much broader income range while significantly lowering the out-of-pocket costs for the majority of our participants. For example, assume a participant’s annual income from employment for 2012 is $78,000. Under old LRAP, this would result in over $800 per month in an out-of-pocket cost for the participant contribution (this assumes an income base of approximately $52,000 in 2012 for the participant’s graduating class). However, in New LRAP, we have a fixed income base of $80,000. Given that the participant’s $78,000 qualifying income is below the $80,000 base, the participant will no longer have a participant contribution.
Links for more details: --LinkRemoved-- ... 075328.pdf
--LinkRemoved-- ... /index.htm
Just want to make sure I'm not missing or misreading something. I know some T-14 schools, like UVA, have arrangements where you can make up to $55,000 and not have to make loan payments, and if you make between $55,000 and $75,000 you can receive partial support. So the $80,000 at NYU seems really generous.
According to what I heard at the ASD LRAP session this past Friday, you are not missing or misreading anything
This is correct, except that $5,100 (min) or whatever your expected student contribution is calculated at. You can either take out $5,100 less ($1700 per year) in loans than you are allowed, or you'll be responsible for paying back that small amount later.