UChicago LRAP/IBR/PSLF Forum

[22191313]

Hey all. So I am seriously considering UChicago at near sticker (15k scholly over 3 years). My COA would be around 280k at time of repayment (slight overestimation)

I am also really interested in public interest, and public service.

Uchi says on their website

"The Law School's Loan Repayment Assistance Program (LRAP) offers a free law school education to University of Chicago Law School graduates who work in public interest for ten years."

Can you guys give me an example of how this would look in practicality, and what kind of job I could realistically get that would fulfill the criteria necessary for full loan forgiveness?

I feel like at full sticker, with an interest in PI and financing my whole debt through loans, this may be the most prudent option for me.

Any guidance helps immensely.

[landshoes]

I would ask someone in the admissions office if they could set up a phone call for you with someone on the public interest/career services staff. You could also ask for more details of the program, in writing.

My understanding, as a student who hasn't been paying attention, is that they pay your loans for you while your'e in qualifying public service positions (which include clerkships), and then after ten years, you get public service loan forgiveness from the federal government. However, beyond that, the details escape me.

[WheninLaw]

Hey all. So I am seriously considering UChicago at near sticker (15k scholly over 3 years). My COA would be around 280k at time of repayment (slight overestimation)

I am also really interested in public interest, and public service.

Uchi says on their website

"The Law School's Loan Repayment Assistance Program (LRAP) offers a free law school education to University of Chicago Law School graduates who work in public interest for ten years."

Can you guys give me an example of how this would look in practicality, and what kind of job I could realistically get that would fulfill the criteria necessary for full loan forgiveness?

I feel like at full sticker, with an interest in PI and financing my whole debt through loans, this may be the most prudent option for me.

Any guidance helps immensely.

I am a former UoC grad that is currently clerking.

Chicago will cut you a check to make your loan payments assuming (1) you make under a certain amount (I think 85K); (2) you work in the public interest (government, clerkships, legal aid, etc.); and (3) you are on IBR. After 10 years of qualifying payments, the Federal Government will forgive your loans. Some things to keep in mind:

1. Getting a qualifying job can be extremely tough.
2. IBR, at your level of debt, will pay off hardly anything (probably less than the accumulating interest). So if you don't hit the 10 years, or PSLF is killed off, your debt will be insane.

Feel free to PM.

[bbridge]

Hey all. So I am seriously considering UChicago at near sticker (15k scholly over 3 years). My COA would be around 280k at time of repayment (slight overestimation)

I am also really interested in public interest, and public service.

Uchi says on their website

"The Law School's Loan Repayment Assistance Program (LRAP) offers a free law school education to University of Chicago Law School graduates who work in public interest for ten years."

Can you guys give me an example of how this would look in practicality, and what kind of job I could realistically get that would fulfill the criteria necessary for full loan forgiveness?

I feel like at full sticker, with an interest in PI and financing my whole debt through loans, this may be the most prudent option for me.

Any guidance helps immensely.

I am a former UoC grad that is currently clerking.

Chicago will cut you a check to make your loan payments assuming (1) you make under a certain amount (I think 85K); (2) you work in the public interest (government, clerkships, legal aid, etc.); and (3) you are on IBR. After 10 years of qualifying payments, the Federal Government will forgive your loans. Some things to keep in mind:

1. Getting a qualifying job can be extremely tough.
2. IBR, at your level of debt, will pay off hardly anything (probably less than the accumulating interest). So if you don't hit the 10 years, or PSLF is killed off, your debt will be insane.

Feel free to PM.

1. Why do you say getting a qualifying job can be extremely tough?
2. Kevin Petty (financial aid office) and Susan Curry (OCS) have said that if Congress ever kills PSLF, the school will rework its LRAP to ensure students are in no worse position.

[WheninLaw]

Hey all. So I am seriously considering UChicago at near sticker (15k scholly over 3 years). My COA would be around 280k at time of repayment (slight overestimation)

I am also really interested in public interest, and public service.

Uchi says on their website

"The Law School's Loan Repayment Assistance Program (LRAP) offers a free law school education to University of Chicago Law School graduates who work in public interest for ten years."

Can you guys give me an example of how this would look in practicality, and what kind of job I could realistically get that would fulfill the criteria necessary for full loan forgiveness?

I feel like at full sticker, with an interest in PI and financing my whole debt through loans, this may be the most prudent option for me.

Any guidance helps immensely.

I am a former UoC grad that is currently clerking.

Chicago will cut you a check to make your loan payments assuming (1) you make under a certain amount (I think 85K); (2) you work in the public interest (government, clerkships, legal aid, etc.); and (3) you are on IBR. After 10 years of qualifying payments, the Federal Government will forgive your loans. Some things to keep in mind:

1. Getting a qualifying job can be extremely tough.
2. IBR, at your level of debt, will pay off hardly anything (probably less than the accumulating interest). So if you don't hit the 10 years, or PSLF is killed off, your debt will be insane.

Feel free to PM.

1. Why do you say getting a qualifying job can be extremely tough?
2. Kevin Petty (financial aid office) and Susan Curry (OCS) have said that if Congress ever kills PSLF, the school will rework its LRAP to ensure students are in no worse position.

1. Because it is - Public interest hiring is not the picnic 0L's think it is, and it can be very very hard to find something stable. I know a few PI people doing one or two year fellowships right now.
2. Unless UoC would pay off your debt after 10 years (doubtful), you'd be in a much worse position. I really like Kevin and Susan, but I'd be hesitant to take out 300k in loans because they said it is fine.

[somethingElse]

Check this thread, it has Chicago (and other T14) LRAP programs compared on a spreadsheet:

http://top-law-schools.com/forums/viewt ... 5&t=262492