Loan Repayment Assistance Programs (LRAPs)
LANC (Legal Aid of North Carolina) full-time attorneys
with law school debt may be eligible to receive loan repayment assistance
and/or federal student loan forgiveness through the following:
A. NC LEAF (NC Legal Education Assistance Foundation)
1.
NC LEAF/LANC Collaboration (NEW in 2007)
2.
NC LEAF Loan Repayment
Assistance Program
B. Federal
Student Loan Forgiveness Program (NEW in 2008)
C. Articles
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A. NC LEAF
(North Carolina Legal Education Assistance
Foundation)
In 1989, students and deans at North Carolina's law schools formed NCLEAF as the
nation's first statewide loan repayment assistance program for attorneys working
in public service careers. NCLEAF helps North Carolina lawyers pursue
careers in public service through its educational loan repayment assistance
program. Participating lawyers have accepted positions in which they aid
the traditionally underserved populations of North Carolina. LANC full-time attorneys may apply for NC LEAF loan repayment
assistance in two ways:
1. NC LEAF/LANC
Collaboration
LANC full-time attorneys with law school debt may be eligible to receive loan
repayments assistance through the NC LEAF/LANC collaboration, after completing
six (6) months of employment with Legal Aid of North Carolina (LANC).
Assistance is limited to a maximum of $400 per month payable in quarterly
installments, in advance, with a maximum of $4800 per funding year.
Because LANC is now a "sponsor", repayment assistance is typically automatic as
long as the LANC attorney meets eligibility requirements and is not in
default on any loan. Also the LANC attorney must be current and not in forbearance on any law school
educational loans. LANC attorneys may obtain NC LEAF/LANC Collaboration information and application forms
from the LANC Administrative Office.
2. NC LEAF Loan Repayment Assistance Program
North Carolina attorneys who work full-time in "public service" and who have law school debt
may also be eligible for low-interest loans to assist with their law school debt
repayment. If a program participant works in public service for more than
three years, she/he is eligible for forgiveness of NC LEAF loans on a
prescribed schedule. Application and Updates are submitted
annually and assistance may be provided on a competitive and
fund-availability basis. For additional information on the NC LEAF Loan Repayment Assistance Program,
visit the NC LEAF website,
http://www.ncleaf.org/program.html
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B. Federal Student Loan Forgiveness Program (CCRAA)
Lawyers and non-lawyers working in public service can benefit from a new federal student loan
forgiveness program, especially if they have high federal student loan debt
The College Cost Reduction and Access Act (CCRAA) of 2007 was
signed into law on September 27, 2007. Negotiated rulemakers reached
consensus on draft regulations on April 14, 2008. Final regulations will
be issued by the Department of Education in November 2008. For information on CCRAA and application for federal loan forgiveness, go to the
Equal Justice Works website,
http://www.equaljusticeworks.org/resource
Also see:
C.
Articles
Also see:
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are for information and educational purposes only and do not
constitute legal advice.
Also please note that Legal Aid of North Carolina does not
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North Carolina office or a private attorney if you need to speak
to an attorney regarding your particular situation.
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complete disclaimer.
Mission Statement
Legal Aid of North Carolina is a statewide, nonprofit law firm that
provides free legal services in civil matters to low-income people in
order to ensure equal access to justice and to remove legal barriers
to economic opportunity.