Yale LRAP Scaled Back? Forum

[blank403]

http://blogs.wsj.com/law/2012/02/10/yal ... ness-plan/

Dunno if this has been posted yet. Thoughts? Harvard#1 now?

[bernaldiaz]

Harvard#1 now?

No

[blank403]

Harvard#1 now?

No

Tongue-in-cheek. Sorry if that wasn't clear.

[freestallion]

It is still better than Harvard's... Although $60,000 without any payments used to be a pretty sweet deal.

[westbayguy]

The new plan just hits REALLY hard at 80,000. Pretty much EVERY after tax dollar you make between 80k and 128k goes to loan repayment (60% to repayment/40% to state, local, FICA, Medicare taxes). You lose all LRAP support at 128k.

Previously, you paid in 25% (not 60%) of income over 60k, and maxed out at 124000.

So you contribute 1500 more between 50 and 60k, $500 less between 60 and 65k, 1500 less between 65k and 80k, but then get slammed at 60% rate over 80k.

I guess the policy decision was to help the bottom end, but those making between 80 and 125 pay dearly now. Might as well go big law for 160 and pay down quickly.

[bk1]

Yale's covers pretty much any job which is why it's better than Harvard's, though I don't know how much of Yale's class actually has to worry about ending up at a small firm.

[MaxWeber]

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