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University of Colorado Expands Law School Student Loan Repayment
On Thursday, the regents of the University of Colorado at Boulder approved plans to expand a law school program aimed at helping students to pay off student loans, if they accept public service jobs in rural areas of the state. The law school loan-repayment assistance program was unanimously approved by the nine-member Board of Regents with visions of raising a fund of at least $10 million for supporting an endowment.
The board chairman, Michael Carrigan pointed out that Colorado University had the only public law school in Colorado and there was an overwhelming need to fill vacancies in public and county attorney jobs. The student loan assistance program would provide students with a choice to be in public service, without being forced to seek higher paying jobs, wherever they may be found. Carrigan also praised law school Dean Phil Weiser for expanding the program.
The original student-loan repayment assistance program for the law school was established in 2008, and until now, the law school has already provided about $125,000 in loan repayment assistance to deserving law graduates.
The Colorado University has already received a $2 million donation for the program to assist law graduates who decide to join public service position in areas, which are under-served. The law school aims to match the donation with $500,000 from its side.
A spokesperson for the law school said Dean Weiser wants to put into place a stronger program for encouraging students to join public service. Keri Ungemah, the spokesperson, said, “We want a long-term, endowed, sustainable program … When we reach our $10 million goal, we will be able to fund 12 graduates from each graduating class with $6500 a year for five years in a row.”