According to the IRS publication 970, Tax Benefits for Education, LRAP support is not considered a taxable income as long as the recipient is employed by a U.S. government agency or a 501 (c) 3 nonprofit. Please also see Rev. Rul. 2008-34: http://www.irs.gov/irb/2008-28_IRB/ar06.html
Public Service Loan Forgiveness (PSLF) and IBR
The following websites are great resources for more detailed information from the Department of Education about the federal PSLF and IBR: Fact Sheet: IBR Plan for Direct and FFEL loans (Feb 2011) Fact Sheet: Loan Forgiveness for Public Service Employees (Feb 2009) IBR – Q&A (updated Feb 2011) PSLF – Q&A (Feb 2010)
Monthly Student Loan Payments
Do you want to figure out what your monthly student loan payments are going to be? FinAid.org has a loan consolidation calculator which allows you to enter several student loans with various interest rates and repayment plans. http://www.finaid.org/calculators/loanconsolidation.phtml
LRAP 2010 cancellation application
The deadline for LRAP Spring and Fall 2010 cancellation is on February 28, 2011. LRAP documentation requirements: · Employment verification: Documentation that you remained in qualifying employment. · Monthly payments: You must provide your payment history by downloading a copy of your account statement from your lender onto your computer and converting it to a PDF […]
LRAP and PSLF Employment Requirements
CDO/FAO event on Wednesday, February 23, at 1:00 pm in 170 Boalt Hall. Following a presentation about employment qualification for LRAP and the Public Service Loan Forgiveness (PSLF), a panel of three current LRAP participants will share their experiences and financial perspectives on pursuing legal careers in government and public interest organizations. The presentation will […]
Pilot Program for “Low Bono”/Union LRAP Coverage
Dean Edley approved the extension of the “Low Bono” and Union coverage under LRAP for up to seven 2011 graduates.
LRAP 101
Re-posted from “LRAP News & Announcements” October 2010: “LRAP 101” October 20, 2010 lunchtime presentation at Berkeley Law by Sigrid Allen, the Loan Repayment Assistance Porgram Coordinator: View a webcast of the recorded presentation View a PDF document with the slides from the presentation
LRAP Benefits for Civil Legal Assistance Attorneys: First-Come, First-Served
Re-posted from “LRAP News & Announcements” June 2010: LRAP Benefits for Civil Legal Assistance Attorneys: First-Come, First-Served Equal Justice Works reports that a new Federal loan repayment assistance program for civil legal aid attorneys is going to become available soon. The new program is called the Civil Legal Assistance Attorney Student Loan Repayment Program (CLAAP) […]
Post-Graduate Career Development and Financial Planning for 3Ls
Re-posted from “LRAP News & Announcements” May 2010: Webcast: Post-Graduate Career Development and Financial Planning for 3Ls incl. health insurance options after graduation (04/20/2010, approx. 1 hr.) Click here to see a pdf version of the powerpoint slides for the “Managing Your Student Loans” portion of the presentation. Click here to see a pdf version […]
Managing the Repayment of Your Student Loans
Re-posted from “LRAP News & Announcements” February 2010: A FAO presentation on 2/25/2010 at Berkeley Law on Managing the Repayment of Your Student Loans can be viewed as a webcast here (MP4 Quicktime video). You may also choose to open the accompanying Powerpoint presentation. The presentation covers points that include: an overview of general student loans […]