On Tuesday, July 16, we gathered virtually for Managing Student Debt. Aoife Delargy Lowe, the Vice President of Law School Engagement & Advocacy at Equal Justice Works. We discussed the many resources and opportunities for repayment support and loan forgiveness available to current borrowers. Our conversation highlighted the below resources, review these resources for how you can become more confident about repaying your student loans.

Loan Simulator | Federal Student Aid 

• Loan Simulator helps you estimate monthly student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.

Important Questions to Ask About Any LRAP – Equal Justice Works

• Not all Loan Repayment Assistance Programs (LRAPs) are alike. Some LRAP programs have different requirements, restrictions, and benefits. Some things to consider are varying payment amounts and duration of eligibility, whether you’ll be able to benefit from more than one LRAP at the same time, and whether your LRAP money is taxable.  Equal Justice Works has compiled some important questions you should ask about any LRAP program that you are considering. 

State Loan Repayment Assistance Programs (americanbar.org)

• There are 24 statewide loan repayment assistance programs (LRAPs) providing assistance in the District of Columbia, Florida, Illinois, Indiana, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Montana, Nebraska (two programs), New Hampshire, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Texas, Vermont, and Virginia. Kansas has an LRAP that operates in 50 of the state’s 105 counties. (See Program Contact information listed below). These 24 LRAPs range in size and scope. Almost all require participants to be working in public interest law. Some are funded through state legislative appropriations while others rely on funding from the private sector or from Interest on Lawyers Trust Accounts (IOLTA) funding. The statewide LRAPs are summarized in these charts.

Loan Repayment Assistance Programs – Equal Justice Works

• Loan Repayment Assistance Programs (LRAPs) are a powerful tool to help you manage repayment of your educational debt. These programs help you to make payments on your educational loans and are available from a variety of sources, including schools, employers, states, and the federal government. 

https://studentaid.gov/

• Learn More About Student Loan Debt Relief
  • Apply for Aid Using the FAFSA® Form 
  • Learn About Public Service Loan Forgiveness
  • Enroll in an Income-Driven Repayment (IDR) Plan 
  • View Your Loan Information 
• How Financial Aid Works
  • Start Planning Early
  • Fill Out the FAFSA® Form
  • Review Your Aid Offer
  • Get Your Aid
  • Repay Your Loans

Public Service Loan Forgiveness

• Submit a Request for Public Service Loan Forgiveness (PSLF) Reconsideration

Register for the next PSLF event: Join their panel of experts as they host a monthly live webinar to share information you need to know about earning PSLF here!