Brooklyn Law School Loan Repayment Assistance Program (LRAP)
The Brooklyn Law School Loan Repayment Assistance Program (LRAP) is available to graduates working in public interest organizations with an IRS 501(c)3 status.
Upon graduation, students who enter qualified areas of public interest employment may be eligible for LRAP to assist them with repaying their law school tuition specific educational debt. LRAP provides loan repayment assistance on a semiannual basis to qualified graduates for up to five years. A graduate's LRAP benefit may be as much as $7,000 a year, allowing participants to receive up to $35,000 in assistance with their loan repayment. The total amount of the annual award per year will be based upon the lower amount of either the participant's annual payments using the Income-Based Repayment Program/Pay-As-You-Earn in the U. S. Department of Education's Direct Loan Program, or $7,000.
Eligible graduates receive semi-annual funding based on their IBR (Income Based Repayment) or Pay-As-You-Earn calculation for up to 5 years following program entry to assist in paying down federal loan debt.
The Law School forgives 100% of the LRAP principle and accrued interest (5% fixed) at the end of each full year of participation up to a maximum of 5 years.
The application procedure:
- Apply within 2 ½ years of graduation (3 ½ if doing a clerkship in first year after graduation) based on application deadline.
Satisfy a minimum law school tuition specific debt requirement of $61,500.
Meet the income requirement (entry cap is $65, 000); if married, the average of both incomes must be within the income requirement.
Employment must be law-related and is limited to full-time jobs that require a J.D. degree with nonprofit, public interest organizations that qualify for tax exemption under Section 501(c) (3) of the Internal Revenue Code (Government jobs do not qualify).
Use LRAP funds to pay down debt and provide proof of loan payment with each year’s application.
Sign a Promissory Note for each year’s participation.
Gain admission to the Bar within 12 months of entering LRAP.
Notify BLS immediately if employment changes.
LRAP awards are LOANS that are forgiven after each year’s participation and therefore, the award is not a tax liability.
If you are ineligible to participate in the LRAP Program based on the above criteria and believe your circumstances warrant consideration, please present an appeal in writing to the Office of Financial Aid
Application Deadline for January 2014 Program Entry: December 15, 2013
For more information please contact Florence Attino in the Financial Aid office at 718-780-0309.
Download Other Important Documents
LRAP Employer Certification Form