Law School Discussion

Nine Years of Discussion
;

Author Topic: 60k LRAP  (Read 1671 times)

john jacob

  • Sr. Citizen
  • ****
  • Posts: 317
    • View Profile
60k LRAP
« on: June 01, 2007, 01:27:45 AM »
http://blogs.wsj.com/law/2007/05/17/uncle-sam-wants-you-and-will-pay-off-your-loans/

the House passed a bill which would pay up to 60k of law school debt to public defenders and prosecutors over 6 years.

Something to keep in mind.

OConnorScribe

  • Sr. Citizen
  • ****
  • Posts: 205
    • View Profile
    • Email
Re: 60k LRAP
« Reply #1 on: June 01, 2007, 12:19:05 PM »
Yeah, because it'll take until the next Congress for it to actually happen for real. Which helps us anyway. So there. :-)
Pace '10

sarahlina

  • Sr. Citizen
  • ****
  • Posts: 254
    • View Profile
Re: 60k LRAP
« Reply #2 on: June 01, 2007, 12:19:31 PM »
This is actually a huge deal for those of us in the public sector.  Maybe I won't be 60 by the time I can afford another vacation.

john jacob

  • Sr. Citizen
  • ****
  • Posts: 317
    • View Profile
Re: 60k LRAP
« Reply #3 on: June 01, 2007, 12:51:58 PM »
This is actually a huge deal for those of us in the public sector.  Maybe I won't be 60 by the time I can afford another vacation.

definitely huge news... I wasn't a poli sci major... so the House passes the bill, but it still has to clear the senate and bushie has to sign it, right? Just asking, is it law yet or not?

john jacob

  • Sr. Citizen
  • ****
  • Posts: 317
    • View Profile
Re: 60k LRAP
« Reply #4 on: June 01, 2007, 01:04:26 PM »
yeah... not law of the land yet, still has to clear senate and bushie. well, lots of senators are lawyers so hopefully this thing will pass. It's pretty damn significant.

platopotato

  • Sr. Citizen
  • ****
  • Posts: 105
    • View Profile
Re: 60k LRAP
« Reply #5 on: June 01, 2007, 05:09:18 PM »
Even if they pay 10k a year for six years, a public defender is probably only making 40k a year. How helpful is this bill really going to be? You could easily make 50k+ in private practice.

Not to mention that many schools already offer similar repayment assistance plans if you are a public defender.

slacker

  • Sr. Citizen
  • ****
  • Posts: 949
    • View Profile
Re: 60k LRAP
« Reply #6 on: June 01, 2007, 10:54:10 PM »
Many people who take the public interest jobs aren't taking them because they can't find other employment. They're taking them because that is the area of law where they want to practice. $10K a year may not mean much in your life, but it's significant for a lot of people. 

Not all schools have LRAPs. Sometimes, when they do have LRAPs, there can be some fairly limiting restrictions.

This sounds like a good thing.

OingoBoingo

  • Sr. Citizen
  • ****
  • Posts: 517
  • Simply the best band from the 80's
    • View Profile
Re: 60k LRAP
« Reply #7 on: June 01, 2007, 11:58:35 PM »
Many people who take the public interest jobs aren't taking them because they can't find other employment. They're taking them because that is the area of law where they want to practice. $10K a year may not mean much in your life, but it's significant for a lot of people. 

Not all schools have LRAPs. Sometimes, when they do have LRAPs, there can be some fairly limiting restrictions.

This sounds like a good thing.

It does. In fact those restrictions at my school mean that non-tuition based loans do not qualify for LRAP assistance. I will be about $75K in debt in the end and the majority (`62 K) will be non-tuition based. So this may end up changing my life if this flies through the senate and bush signs it. Hopefully, by the time I am done (Class of '09) I'll be able to take advantage of this rather than take a job which I ultimately dislike.

Awesome news!

Oingo
"It takes a big man to cry, but it takes a bigger man to laugh at that man."

Roman815

  • Sr. Citizen
  • ****
  • Posts: 431
    • View Profile
Re: 60k LRAP
« Reply #8 on: June 02, 2007, 12:35:00 AM »
Even if they pay 10k a year for six years, a public defender is probably only making 40k a year. How helpful is this bill really going to be? You could easily make 50k+ in private practice.

Not to mention that many schools already offer similar repayment assistance plans if you are a public defender.

I've looked around and many of these positions pay between 50K and 65K but maybe this is because I'm in California. For example, the prosecutors office in Riverside pays 62K the first year plus benefits. If I took this job I would be disqualified from the LRAP at my school. So this measure certainly helps and if it can be combined with the LRAP that your school offers then you're likely going to pay down your loans three times as fast.
University of San Diego School of Law Class of 2010!

LSN

quem vem la-sou eu

  • Sr. Citizen
  • ****
  • Posts: 213
    • View Profile
Re: 60k LRAP
« Reply #9 on: June 03, 2007, 01:35:55 AM »
This is actually a huge deal for those of us in the public sector.  Maybe I won't be 60 by the time I can afford another vacation.

definitely huge news... I wasn't a poli sci major... so the House passes the bill, but it still has to clear the senate and bushie has to sign it, right? Just asking, is it law yet or not?

Yes. Many acts of fellatio must be performed before we can start counting on this.