The Law School has recently enhanced its Loan Repayment Assistance Program (LRAP) to meet the growing needs of future graduates. It's called LRAP Plus, because a great program is now even better.
Please Note: LRAP Plus is for the Class of 2019 forward. Our prior LRAP is for the Class of 2018 and earlier. (The Classes of 2019-21 may choose either one.)
1. NYU Law offers one of the nation's most generous LRAPs.
- Beginning with the Class of 2019, most participants can earn up to $100,000 a year and have no monthly payment on their law school loans.
- Non-law educational debt up to $30,000 in original principal is included in LRAP Plus (on top of a $10,000 allowance for bar loans).
- LRAP Plus also includes a new dependent allowance of $10,000 per eligible dependent.
2. Our LRAP is for graduates committed to public service.
- NYU Law’s far-reaching program comprises both an income-driven plan, which leverages the power of the federal government's Public Service Loan Forgiveness Program (PSLFP), and a traditional 10-year plan similar to other law schools. Between them, they cover a wide range of employment, including full-time jobs in federal, tribal, state, and local government and nonprofit organizations, as well as judicial clerkships, jobs in legal academia, some self-employment, and for-profit organizations serving the public interest.
- If you stay with our income-driven plan for 10 years until completion, your loans can be fully forgiven with the lowest overall out-of-pocket expenses possible. (And, you may pay nothing toward your loans each month, even as you advance in your career.)
3. NYU Law’s LRAP Plus lets you make choices.
- Beginning with the Class of 2019, participants in our new LRAP Plus will have increased flexibility—qualified participants may opt into the income-driven plan or the traditional one.
- If you choose to explore other career opportunities after three years in the income-driven plan, we offer one-time payment assistance to help you stay on track with your loan payments.
- It’s possible to defer for up to two years to start a family, pursue education, or deal with unforeseen hardship.
- It's never too late to join LRAP Plus. Qualified participants can apply at any time.
4. You can count on our LRAP.
- NYU Law is committed to covering all LRAP participants now and in the future. If for any reason the PSLFP were no longer available, the Law School would provide income-driven plan participants with the benefits of our traditional plan.