LIPP is a comprehensive and flexible loan repayment assistance program for graduates working in relatively low-paying jobs. It allows HLS graduates to choose from a broad range of career options without delaying or deferring the repayment of their educational loans, and it covers both public sector and law-related private sector jobs.
When looking at LRAP programs, it is always important to read the fine print and understand how to compare LRAP programs. You can also watch our five-minute video presentation covering the basics of loan repayment assistance programs.
LIPP is the only loan repayment assistance program that combines all of these features:
- Covers both public and private sector employment and
- Uses actual repayment term of loans (at least 10 years) rather than an artificial or extended repayment term of 15 years or longer that limits benefits and can cost you more in the long run, especially if you leave the program after a few years and
- Is not structured to require participation in the Federal Public Service Loan Forgiveness Program, which is an all-or-nothing program that requires a minimum of 10-years in public service jobs to qualify for any forgiveness benefit and
- Covers all types of standard educational loans, both federal and private and
- Covers clerkship positions for those who intend to remain in a LIPP-eligible job following the clerkship and
- Allows you to remain in the program for as short or as long a term as you want (with some additional conditions for clerkship positions) and
- Allows you to keep the benefits you have earned when you leave the program and
- Has no mandatory salary ceiling and
- Has no limited participation opportunity window and
- Includes allowances for asset protection, dependents, daycare expenses and parental leave and
- Covers up to $30,000 of undergraduate debt and up to $10,000 of bar loan debt
There are loan repayment assistance programs (LRAPs) at other law schools that may offer more generous benefits to specific individuals. However, other law schools do this by offering less generous benefits to the lowest-income participants, or by covering only public sector/nonprofit jobs, or by requiring that recipients who do not remain in an eligible job for several years must repay their benefits, or by requiring participation in the Federal Public Service Loan Forgiveness Program, or by requiring that recipients repay their loans on an extended term that can cost much more in the long run. LIPP makes none of these trade-offs.
LIPP’s greatest strength is its versatility. It is structured to ensure that graduates at the lowest incomes receive the most generous benefits, and are able to make real progress in repaying their loans no matter how long they remain in the program. LIPP leaves you in control of your career: it allows you to make the career decisions that are right for you in the knowledge that you will have the support you need, when you need it.
Please review the LIPP section of our website for more program details.