The Colorado Law Loan Repayment Assistance Program, also commonly referred to at the LRAP program offers law students the ability to be awarded some income towards their student loans each year. Through this program qualifying, applicants may be able to qualify for as much as $5,500 per year. This all depends on the availability of funds and other factors. If you are interested in learning more continue reading below.
In order to be eligible for Colorado Law Loan Repayment Assistance Program, there are a few qualifications that you will need to meet in order to proceed. The big one here is that you must have graduated from the University of Colorado Law School. As a side note here, anyone who is looking to apply does not need to be a licensed attorney in order to qualify for the LRAP program. You will also need to meet the following requirements:
- Qualifying public interest employment
- Wages, income, and financial conditions
- Continued eligibility for the duration of LRAP assistance program
Below we will be going more in-depth on what is required in each of the above categories.
Qualifying Public Interest Employment:
The applicant must be a full-time employee meaning he or she is working at least 35 hours per week and they must be working in a public interest capacity. The capacity includes the following three categories:
- You must be working under any organization that meets the description of Section 501(c)(3) that is considered exempt from tax according to the Internal Revenue Code.
- You must be working for an employer who is either federal, state, or local government agency. This employer must use contracts in which they require legal services for indigent people.
- You must be working and employed by a company providing services to areas that are underserved or areas where there are currently unmet legal needs.
Information regarding Wages, Income, and other Financial Conditions:
In order to fully qualify for the LRAP program for the first time, you must have a gross annual salary equal to or under $63,000 per year.
- In the event that this is a renewal application, you do have the eligibility for a salary increase of up to $2,000 for each year that you are in LRAP.
- As a side note here, any additional sources of taxable income may be considered when you are applying for LRAP.
For a full list of FAQs regarding this program please head to their website here.
How much should be expected through his award?
If you are accepted into this program, you may be able to collect up to $5,500 depending on the availability of funds as well as other factors.
What Loans Qualify?
• Stafford Student Loans
• Grad PLUS Student Loans
• Consolidation / Consolidated Student Loans
• Perkins Student Loans
• Health Professions Student Loans (HPSLs)
• Private Student Loans
How to apply?
In order to apply, simply got to the following link and you will be walked through all the different ways to apply. Please note that the different branches have different applications processes. Find your branch and apply here. The application window for the 2019 season begins from August 15, 2018, through October 5, 2018. Participants must reapply every year to be considered for the program.