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The UC Davis School of Law is expanding a program to ease the debt burden of graduates who want to pursue lower-paid public interest jobs.
Beginning Jan. 1, graduates who take qualifying jobs that pay $60,000 a year or less will be eligible for a loan that will be forgiven at the end of the year if the person stays in the job.
The current salary cap is $53,000 and there’s currently a five-year wait for loan forgiveness.
Participants who keep working in a qualifying job may reapply for the program for up to 10 years, the usual term for education loans — meaning those who spend a decade in public interest law can erase all of their student loan debt.
Those who earn $40,000 or less are eligible for full annual loan forgiveness; those who make $40,000 to $60,000 are eligible for partial loan forgiveness.
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UC Davis eases loan burden for some law grads - Sacramento Business Journal
Beginning Jan. 1, graduates who take qualifying jobs that pay $60,000 a year or less will be eligible for a loan that will be forgiven at the end of the year if the person stays in the job.
The current salary cap is $53,000 and there’s currently a five-year wait for loan forgiveness.
Participants who keep working in a qualifying job may reapply for the program for up to 10 years, the usual term for education loans — meaning those who spend a decade in public interest law can erase all of their student loan debt.
Those who earn $40,000 or less are eligible for full annual loan forgiveness; those who make $40,000 to $60,000 are eligible for partial loan forgiveness.
More...
UC Davis eases loan burden for some law grads - Sacramento Business Journal