LRAP? Forum

[rglifberg]

http://www.law.georgetown.edu/admission ... AP-III.cfm


Could anyone explain this further? I understand that if you make less than 75,000 for 10 years your loans will be forgiven. My question is: what is the minimum loan payment that must be paid? Thanks!

[rglifberg]

Actually, I think the answer was in the that link.

[quiver]

Actually, I think the answer was in the that link.

Glad we could help.

[rglifberg]

Do LRAP's, and Georgetown's in particular, make loans manageable? Curious as someone interested in PI.

[mr_toad]

Yes, assuming you get qualifying employment. Make sure to read the fine print for both IBR and LRAP. Georgetown's LRAP is directly connected to IBR, i.e., only pays the amount you would pay under IBR, so if your job doesn't qualify for IBR (e.g., government, non-profit, some other few exceptions) then you won't get LRAP help. Also, you can only enter LRAP the first two years or so after graduation, so if you do Big law for 3-5 and then transfer to government, you would qualify (probably) for IBR but not LRAP. But yeah, if you came right out of school and worked for qualifying employment for ten years and never made more than 75,000 gross taxable, to the best of my knowledge you would never pay a dime yourself and the loans would be forgiven.

[rglifberg]

Interesting, greatly appreciated. Thanks!