Q: How does LRAP work?
A: LRAP recipients receive a short-term loan from UNC School of Law and use those funds toward the payment of law school education loans. The loan is awarded in two installments - in January and in June. Initial eligibility is determined from the application prior to January, and continued employment and salary are verified prior to June. Eligible employment is confirmed the following January (one year after the first awarded installment), and the loan is forgiven. At the time of award notification, recipients sign a promissory note agreeing to repay any funds for which they become ineligible.
Q: I'm not currently working in a public interest job, but I will be soon. Can I apply?
A: It depends on your start date. You are only eligible to apply if you are currently working in a job that meets the criteria set out in the guidelines, or if you are not currently working in a public interest job, but will be employed in one beginning on or before the application submission deadline. Your employer must verify your qualifying employment.
Q: Can I apply if my loans are in deferment or forbearance?
A: It depends on when your deferment or forbearance ends. Applicants will only be eligible if they are in active repayment at the time of application.
Q: Can I apply if I have been approved for Income-Based Repayment (IBR), with no required minimum monthly payment?
A: If you are not required to make any monthly payments, you will not be eligible for UNC School of Law's LRAP at this time. You will be able to apply once your monthly loan obligation increases to more than $0.
Q: Since graduating from law school, I've consolidated my loans and mixed my UNC law school debt with undergraduate debt and/or previous law school debt (transfer students). What information should I submit with my application?
A: UNC School of Law's LRAP program will only assist with law school debt from loans that were certified by the UNC Office of Scholarships and Student Aid at their time of origination. If you have subsequently consolidated or modified your loans in some way, you must provide documentation tracing these loans back to their original, certified form.
An example of sufficient documentation would be a consolidation statement indicating the institution, type and amount of all loans that have been consolidated.
Q: I do not fall into the eligible graduation range for this year's program. Will LRAP be available to me in the future?
A: The School of Law intends to open future funding to a larger group of alumni as the program grows. Future graduating classes are anticipated to become eligible, but earlier classes are not.