LIPP

Below are the most common questions we have received regarding the CARES Act and how it may affect LIPP assistance. The federal loan payment pause…

Prospective LIPP participants are advised to consider that there are regional differences in the cost of living, state and local tax rates, and other personal…

Graduates who start their own practice or are otherwise self-employed should consult with the LIPP staff about their situation and review the law-relatedness requirement for individuals working…

Recipients of Public Service Venture Fund support are eligible for LIPP and their fellowship amount will be considered their base salary when calculating LIPP benefits…

Employment in the private sector is eligible for LIPP so long as the position is law-related. For purposes of LIPP “law-related” is defined as follows: The…

LIPP offers up to seven years of participation for J.D. graduates who are actively enrolled in a full time Ph.D. program, subject to the following…

LIPP is not intended to cover most judicial clerkships, since graduates who serve as clerks usually proceed immediately to higher-paying positions.* Graduates moving into non-LIPP…

Graduates who accept full-time employment during a law firm deferral period may be eligible for LIPP assistance based on their type of employment, eligible borrowing,…

LIPP participants often contact our office with concerns about qualifying for a mortgage. Their primary worry is that they will have difficulty getting approved for…

There are several loan repayment assistance and cancellation programs available which can be used in conjunction with, or in lieu of, LIPP. The combination of…

LIPP assistance with respect to education loans should not be considered taxable income if the participant works for a government agency or a tax-exempt section…

A LIPP participant can exit LIPP at any time, for any reason. Typically, a participant will exit LIPP because they have become ineligible due to…

To maximize LIPP eligibility we recommend all LIPP participants place their loans on a ten year repayment plan while they are receiving assistance. It is…

Assets are considered in determining the amount of a LIPP subsidy for which a participant is eligible. Graduates will receive the following asset protection allowances:…

LIPP will provide assistance during a parental leave of up to six months regardless of whether the leave is approved by an employer or the…

Graduates who are in legally recognized marriages will be evaluated on the basis of either (1) their own income (if their spouse makes less than…

Student loan repayment is considered to be the financial priority of LIPP participants. Participants allocate, according to the Participant Contribution formula, a limited percentage of their…

Consolidation and refinancing can be a beneficial way to reduce the overall and monthly costs of your educational borrowing. For this reason, so long as…