Income Based Repayment to Aid Law Grads

From Slate via Legal Geekery, a new way for law students to pay off their loan debt:

Most people know about the plan where you’d work for 10 years at for the govt or a non-profit and they’ll forgive all your federal debt.

But this presents a new alternative called IBR — Income Based Repayment.

The first program won’t be up and running until July 2009, but it could certainly benefit many underpaid and overdebted do-gooders. The Department of Education essentially caps the percentage of your discretionary income you are expected to pay toward your student loan debt.

Via Slate & Legal Geekery Blog.

• New York Bar Denies Applicant Based on Large Student Loans
• Northwestern to Let Deferred Grads Postpone Loan Payments
• Law Firm Debt
• Obama’s New Plans for Student Debt Are Not New
• Law School Loan Provider Calling it Quits

Posted by Erik Even on January 27, 2009. Filed under Home,Law School News,Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry