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LRAP: Notre Dame Law School
Published July 2010, last updated August 2010
Loan Repayment Assistance Program
How it Works
LRAP loans are forgiven in their entirety after three years of eligible employment. Graduates may remain in the program for a maximum of five years, starting the January after graduation.
Part-time positions are eligible but will be reduced proportionately.
Judicial clerkships are not eligible (but will serve towards the years required for loan forgiveness). Notre Dame may disqualify “employment that contradicts the teachings of the Catholic Church.”
Calculation of Graduate’s LRAP Award
The calculation of this income is done differently for married and unmarried graduates. Unmarried graduates should take their gross income and subtract annual non-law school educational loan payments, an exemption for each dependent child (equal to the amount claimed on the federal tax return), contributions to retirement plans (up to 10% of gross income), and any contributions to health and dental care.
Married graduates should compute each person’s income as above (subtracting law school debt obligation for the spouse and adding any spousal loan repayment assistance). The income used for calculations is then the higher of the graduate’s income or ½ the joint income.
Each year after graduation, a graduate is allowed $5,000 of protected assets. If the graduate has assets exceeding this protected amount, Notre Dame will reduce the benefit amount the graduate is eligible to receive. The benefit amount is reduced by a percentage equal to the amount of unprotected assets divided by the total unpaid balance of eligible loans.
For example, a graduate has $25,000 in assets and graduated three years ago, meaning she has $15,000 in protected assets and $10,000 in unprotected assets. She has $75,000 remaining on her eligible loans. $10,000 divided by $75,000 is 13.3%, and this is the percentage by which her maximum award eligibility is reduced. For example, if she was previously eligible for 80% of her loans to be covered, she is now eligible for only 69.3% of her loans to be covered (13.3% of 80% is 10.7%).
Final Thoughts on the Notre Dame Law School Loan Repayment Assistance Program
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