New Federal Loan Forgiveness & Loan Repayment Assistance Programs Now Available

February 12, 2009

There are several new federal programs involving loan repayment assistance and loan forgiveness that have recently become available or will be taking effect in 2009. These programs include the Public Service Loan Forgiveness Program, the John R. Justice Prosecutors and Defenders Incentive Act, the Legal Assistance Loan Repayment Program, and the Income Based Repayment Option.

The Income Based Repayment Plan provides partial loan forgiveness based on the allocation of debt to income. It does not require that the borrower work in a public interest related field to receive the benefits from this program.

Capital University Law School hosted a guest speaker, Arnold Head of the Access Group, to provide more information about these programs. These new programs are available to any federal student loan borrower, regardless of which lender they have selected. This information is NOT specific to Access Group borrowers only.

The video on the information sessions held earlier this month is available online here. Extra packets from the sessions are available for pick up at the Financial Aid Office. For more information, contact Christine McDonough, assistant director for Admission & Financial Aid, at 614-236-6350.