Quote:
Originally Posted by kstar
You could, quite a few of my friends got debt forgiveness (well a percentage of it) for their Law School Debt, provided they stay at Legal Aid for x number of years.
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There's currently a federal program that if you work for 10 years in public service (which includes working in a federal, state, local or tribal government position, working for a public interest law organization, or a 501(c)(3) organization), and if you make your payments on time for 10 consecutive years, you qualify for debt forgiveness. You have to consolidate your debt under one of the federal repayment programs (i.e. not consolidate under a private lender). I know there are even better programs in some states (and that some schools, including Yale, I believe, have their own programs), and there are law students lobbying for better programs in most of the other states (including CT), for those who want to go into public interest law without having to take a second job at Starbucks.
I can see the wisdom of those types of loan forgiveness programs, especially in public interest law where they're having a hard time finding good young lawyers, or they're losing good attorneys after a couple of years because of financial issues.
Something like this wouldn't affect me a whole lot personally, as I've worked full-time throughout undergrad and law school to minimize loans. But, as noted above, I think it's pretty drastic and would have no chance of being enacted.
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