Loan Repayment For Eligible Graduates

The Civil Legal Assistance Attorney Student Loan Repayment Program was established to encourage qualified individuals to enter and continue employment as civil legal assistance attorneys. Under the Civil Legal Assistance Attorney Student Loan Repayment Program, an eligible student loan borrower, with one or more eligible loans, may receive up to $6,000 in student loan repayment for each year of completed service up to an aggregate total of $40,000. Loan repayment commitments are limited to the amount appropriated for the program for a given fiscal year by the Congress and are only available to eligible applicants until those funds are fully committed. Therefore, awards under this program will be available to eligible borrowers on a first-come/first-served basis.

If you are an alum working in the public sector, click HERE to determine if you are eligible. This is a great program and the funds will go QUICKLY!

Important Changes to IBR as of July 1, 2010

Updated rules for Income-Based Repayment recently went into effect to make the program more fair for married borrowers and those who owe more than when they finished school. Last year, more than a thousand IBRinfo subscribers sent letters urging the Department of Education to fix these problems, and those efforts paid off.

The updated calculator to determine if you qualify is available here. It is definitely worth checking out as some people will be eligible for IBR who weren't before.

Here is a summary of the changes that are now in effect:
Married Borrowers: When married couples both have federal student loans, they will no longer face higher IBR payments than their unmarried peers. For married borrowers who file their taxes jointly, lenders will factor in the couple's total federal student loan debt, as well as their total income, to calculate payments. Originally, IBR did not recognize that joint income has to cover both spouses' federal loan payments, resulting in payment requirements up to twice what two equivalent single people would have to pay.
Baseline Debt: IBR eligibility will be based on either the balance when the loan first entered repayment or the current loan amount, whichever is greater. This will allow borrowers whose loan balances have increased (often due to accrued interest during periods of deferment or forbearance) to qualify based on what they actually owe. (Note: This change only affects IBR eligibility, not payment amounts - your IBR payment amount is based on your income.)

For additional questions, click HERE.

Five million dollars is now available for distribution to qualified civil legal assistance attorneys. The online application is accessible here: http://studentaid.ed.gov/students/attachments/siteresources/CLAARPapp.pdf

Applying as soon as possible is critical because the Department of Education will commit these funds to eligible civil legal assistance attorneys on a first-come, first-served basis.

Completed and signed applications can be returned to the Department of Education as follows:

• Fax Number: 1-315-738-6674

• Mail: U.S. Department of Education
Civil Legal Assistance Attorney
Student Loan Repayment Program
PO Box 4399
Utica, NY 13504

• Overnight mail: Call 1-877-699-1834 for courier/overnight address

Complete and signed applications will be date and time stamped and processed in the order they are received. Do not submit an incomplete application-- if the application is denied because it is incomplete, the Department of Education will send a letter explaining the reason it was denied, and a resubmitted request will receive a new date and time stamp.

6 Steps to Reducing Your Student Loan Costs

Unless you are Donald Trump, everyone is worried about finances, debt, and the ability to pay back those loans. In a recent article by Kim Clark, "6 Steps To Reducing Your Student Loan Costs," students are advised about what they can be doing NOW in order to lessen the financial load.

If you can't get enough grants or scholarships, and have done all you can to reduce your costs, it may be a wise move to borrow—in moderation and carefully—for your graduate education. Studies show that graduate degrees often help boost career and earnings options. Still, because the economy is unpredictable, it's prudent to try to limit your debt. Here are some tips to reduce your graduate school debts.

1. Borrow as little as possible. Keep living expenses as low as possible and try not to borrow to fund them. Remember the old saying: If you live like a lawyer when you're a law student, you'll have to live like a law student when you're a lawyer.

2. Check out your future salary, and the earnings records of the graduates of your school, to see how much you can reasonably afford to put toward debt payments ... to continue reading the remainng four tips, click HERE.

AVAILABLE: Paid Fellowship For Florida Coastal Students

Interested in public service work? Looking for a job? If your answer is yes to these questions, then you do not want to miss out on this terrific opportunity.

The Florida Bar Foundation has awarded Florida Coastal School of Law a grant to offer second and third year law students fellowships during the summer 2010, fall 2010, and spring 2011. The Florida Bar Foundation Fellowship was established to offer law students the opportunity to assist public service organizations located in Florida.

Eligible students will work with organizations that represent traditionally underrepresented clients, groups, or interests. In the past students have worked with the American Civil Liberties Union, State Attorney's Office, Public Defender's Office, Jacksonville Area Legal Aid, and Three Rivers Legal Services.

This year there are nine positions available, two in the summer 2010, three in the fall 2010, and four in the spring 2011.

To be eligible, students must have a 2.4 cumulative GPA, and they must have completed thirty credit hours as of April 16, 2010. Students who are selected will be required to work 140 hours; students will receive $10 per hour for their work.

If you are interested in applying for a fellowship, you should submit your resume and cover letter to Professor Millard at kmillard@fcsl.edu The deadline to apply is Friday, April 16, 2010 by 5 p.m. See http://www.fcsl.edu/pro-bono/fellowship-program for more information about the Florida Bar Foundation Fellowship.

Do You Have Debt?

If you have debt, consider attending this free webinar which explains benefits from the College Cost Reduction and Access Act (CCRAA), the most significant law affecting public service in a generation. Whether you are interested in learning about lower monthly student loan payments using Income-Based Repayment or how to qualify for Public Service Loan Forgiveness, this presentation shows you how to do it. This free interactive webinar will teach you:

• Who will benefit most from Income-Based Repayment and Public Service Loan Forgiveness
• The top three points everyone should understand and convey to student loan borrowers interested in Public Service Loan Forgiveness
• Updates on the administration of Income-Based Repayment and Public Service Loan Forgiveness

Spaces are limited, so sign up TODAY.

Lower Loan Payments?

According to the Los Angeles Times, the Obama administration wants to offer more debt relief to student borrowers. In a recent article, it was noted that

As part of the White House’s “middle-class” aid initiatives unveiled today, President Obama proposed that students making payments under federal college loan programs would have monthly payments capped at 10% of income exceeding a “basic living allowance.”

That would lower the payment cap for qualified borrowers from the current maximum of 15% of income. The 15% maximum took effect in July under the government’s income-based repayment program, although some very-low-income borrowers are making no payments at all under that program.

As an example, the White House said, the 10% cap would mean ... to continue reading the full article, click HERE.

Don't forget ... the Peggy Browning Fund summer work applications are due on Friday! Click HERE for all of the great information about these PAID summer positions nationwide!

New Legislation Proposed!

Congress is taking action to make government service possible for more young people! The Partnership for Public Service is excited to announce that the Roosevelt Scholars Act of 2009 (S. 2789)has been introduced in the Senate by Senators George Voinovich (R-OH) and Kirsten Gillibrand (D-NY).

The Roosevelt Scholars Act will attract our nation’s best and brightest to work for the federal government. Roosevelt Scholars pursuing degrees in high-skill, high-need fields will receive tuition, room and board, and a stipend, in exchange for a federal service commitment – the civilian equivalent to the military’s successful ROTC program!

For more information on Roosevelt Scholars and to learn how you can help, click here.

Getting Your Student Loans Forgiven.

This is a must attend for anyone with high student debt working for the government or a nonprofit. This free webinar explains how you can benefit from the College Cost Reduction and Access Act, the most significant law affecting public service in a generation.

From this interactive webinar, you will learn and be able to ask questions about:
How to qualify for Public Service Loan Forgiveness
How the new Income-Based Repayment plan works
How to figure out how much you can benefit

Space is limited, so participants are required to register at:

Wednesday, Oct. 21, 2 – 3:15 p.m. EDT (1 p.m. CDT, 11 a.m. PDT)https://equaljusticeevents.webex.com/equaljusticeevents/onstage/g.php?d=666556842&t=a
Monday, Nov. 2, 11:30 a.m. – 12:45 p.m. EDT (10:30 a.m. CDT, 8:30 a.m. PDT)https://equaljusticeevents.webex.com/equaljusticeevents/onstage/g.php?d=667344325&t=a

Is Debt On Your Mind?

You are not alone. Take a moment and read an article from The American Lawyer which discusses steps to overcome law school debt (even despite leftover undergrad loans and the shrinking job market!). To access the entire article, click HERE.

Do You Have Debt?

Check out the Student Loan Repayment Program Guide available online. Students can learn more about federal student loan repayment assistance, including which federal agencies are dishing out the most cash and what jobs are most likely to be on the receiving end of those funds. Stop ignoring your debt today!

PAID & VOLUNTEER OPPORTUNITIES IN JACKSONVILLE

Jacksonville Area Legal Aid (JALA) has some incredible paid and volunteer opportunities for law students. There are two programs recruiting for volunteers NOW.

1. Paid Positions For Students Who Are Eligible For Federal Work Study Funds
2. Volunteer Positions For Any Law Student

Paid Positions For Students Who Are Eligible For Federal Work Study Funds
Positions are located in the following units:

A) Predatory Lending Unit
The consumer law unit aggressively addresses consumer finance abuses practiced against low-income, working poor, elderly and members of the armed services. We welcome assistance from all law students who are seeking experience conducting legal and factual research, drafting motions, pleadings and memorandum of law, preparing discovery and discovery responses, investigating business practices related to consumer predatory lending, participating in legislative advocacy and community education projects, preparing and assisting with court hearings, depositions and trials and drafting training manuals. All work is directly supervised by an attorney.

B) Family Law Unit
The work in the family law unit includes drafting (letters, pleadings, memorandum of law), legal research, organizing discovery, and assisting with trial preparation.

C) Intake Unit
The Intake Unit position is under the supervision of the Director of Intake. This position conducts telephone and in-person client interviews to determine applicants’ legal issues (expressed and hidden), gather relevant facts and documents, and provide legal information in a fast-paced environment fostering holistic client services. Training in legal interviewing skills, some substantive law, conflicts of interest, use of case management system, and electronic calendaring will be provided.

If interested in any of these PAID positions, do the following:

1. Email Rita Rosario in Financial Aid to see if you qualify for federal work study funds.
2. If you qualify, send your resume to Lisa Vervynck in Career Services.

2. Volunteer Positions For Any Law Student
Volunteers are needed to serve as law clerks in the Consumer/Predatory Lending Unit. The work will involved helping attorneys prepare for a large case. This may be a great way to get some pro bono hours!!!

If interested in volunteering, send your resume, availability, and a date to set up orientation to Kathryn Jackson with JALA.

THESE ARE AMAZING OPPORTUNITIES TO GET EXPERIENCE.

DO NOT MISS OUT.

News On Government & Loans

A recent article, "Agencies ramp up student loan repayments" indicated that federal agencies have increased their spending on student loan repayment programs for employees by 22 percent from 2007 to 2008. This information came as part of a report from the Office of Personnel Management which can be accessed here: report

This news is excellent to hear for students with debt who are considering government work but are concerned about loan repayment. For the full text of the article, click HERE.

Solutions For Your Student Debt

Register today!

Solutions For Your Student Debt

True Stories About Student Debt

Does the thought of law school loans and repayment make you nervous? Take a moment and read an article from The Washington Post which discuss real people dealing with loans, debt, and repayment. Also discussed are the BRAND NEW federal programs you should think about when evaluating your own financial status. Remember, you are certainly not alone when discussing these issues. To read the full article, Lifelines In The Student Loan Sea click HERE.

EQUAL JUSTICE FELLOWSHIPS AVAILABLE

If you are graduating in May 2010 and are interested in public interest, you need to know about the Equal Justice Works Fellowships.

Fellowship Timeline

July 7, 2009
The 2010 application will be available online

Sept. 17, 2009
The application and supporting paperwork are due to Equal Justice Works by 5 p.m. EDT

Nov. 2009
Interviews begin for selected candidates

Dec. 2009 and Jan. 2010
Interviews continue; Fellowships are offered on a rolling basis

Sept. 2010
Class of 2010 Fellows begin service

To learn more about this FUNDED post-graduate opportunity, click HERE.

Student Loan Relief Is On The Way

Still unconvinced about the new federal loan forgiveness programs? Read a recent ABA Journal article, "Student Loan Relief on the Way For Law Grads" which continues the discussion about the College Cost Reduction & Access Act and the many benefits for law students. The Act became effective on July 1st.

If you don't know this . . . you should

Yesterday was a huge day in the world of student loan and loan forgiveness. On July 1st, The College Cost Reduction & Access Act went into effect. The two portions of this Act which could be of interest to all law students with federal loans includes:

1. Income Based Repayment (for ALL types of employment)

2. Public Service Loan Forgiveness (for public service)

To read all about the Act to see if you qualify and if it makes sense for click on the names of the two programs above. For more information about the differences between the two programs, click HERE.

HINT ... If you have federal student loans, it is worth knowing about this programs!