Law School Discussion

Law firns pay off student loans?

Law firns pay off student loans?
« on: April 29, 2008, 12:11:22 PM »
I was talking to someone at the weekend who mentioned that some law firms (specfic types of law firms were not discussed) will actually pay of your student loans for you.  Does this really happen?  It seems a bit strange that a company would be willing to pay off someones loans.  For all they know they could just be taking the job for no other reason than to get there loans paid off and then they may leave to pursue something else. 

Re: Law firns pay off student loans?
« Reply #1 on: April 29, 2008, 12:15:55 PM »
I'm not sure exactly what you are talking about, but many public interest law firms and DA/PD offices will pay a certain monthly amount toward your loans.  Congress was recently considering a bill to forgive a certain amount of debt to lawyers who worked in public interest or DA/PD offices.  I believe the terms were if you paid on time for ten years, the remaining balance would be forgiven.

I'm not sure if that passed.

Lobstah!

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Re: Law firns pay off student loans?
« Reply #2 on: April 29, 2008, 12:16:10 PM »
They do...it's called a salary.  :D

non parata est

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Re: Law firns pay off student loans?
« Reply #3 on: April 29, 2008, 12:19:41 PM »
Hey, it happened in The Firm, it must be true!

Grisham Novels = Real Life

UnoriginalAndrew

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Re: Law firns pay off student loans?
« Reply #4 on: April 29, 2008, 06:54:48 PM »
Hey, it happened in The Firm, it must be true!

Grisham Novels = Real Life

Haha, I'm glad you mentioned that -- it was what I came on this thread to say.

Gotta watch out for those firms though, cuz first of all you'll have to live in Memphis, and second of all you'll have to work for the mafia.

non parata est

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Re: Law firns pay off student loans?
« Reply #5 on: April 30, 2008, 05:58:22 AM »
Oh God!  Live in Memphis??

AJ

Re: Law firns pay off student loans?
« Reply #6 on: April 30, 2008, 06:23:06 AM »
yes, this bill did pass. Basically it says that if you work 10 years in government, public interest, or a related field, your loans will be forgiven. You can access detailed info here:

http://www.law.georgetown.edu/news/releases/documents/Forgiveness_000.pdf

Please note that I am certainly not an expert on this new program.

You must read and discern for yourself whether or not this method will or will not work for you. 




I'm not sure exactly what you are talking about, but many public interest law firms and DA/PD offices will pay a certain monthly amount toward your loans.  Congress was recently considering a bill to forgive a certain amount of debt to lawyers who worked in public interest or DA/PD offices.  I believe the terms were if you paid on time for ten years, the remaining balance would be forgiven.

I'm not sure if that passed.

Re: Law firns pay off student loans?
« Reply #7 on: April 30, 2008, 07:33:09 AM »
Thanks for linking that article AJ, you just made my month

Budlaw

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Re: Law firns pay off student loans?
« Reply #8 on: April 30, 2008, 08:59:40 AM »
yes, this bill did pass. Basically it says that if you work 10 years in government, public interest, or a related field, your loans will be forgiven. You can access detailed info here:

http://www.law.georgetown.edu/news/releases/documents/Forgiveness_000.pdf




I'm not sure exactly what you are talking about, but many public interest law firms and DA/PD offices will pay a certain monthly amount toward your loans.  Congress was recently considering a bill to forgive a certain amount of debt to lawyers who worked in public interest or DA/PD offices.  I believe the terms were if you paid on time for ten years, the remaining balance would be forgiven.

I'm not sure if that passed.

Its your "federal loans" that will be forgiven. Not your private loans. Pretty big distinction there.

Re: Law firns pay off student loans?
« Reply #9 on: April 30, 2008, 10:16:05 AM »
Do GradPlus loans count?  IF so that would be most people's total debt.