Previous
US Department of Justice Attorney Student Loan Repayment Program (Visit this link)
The ASLRP is an agency program based on 5 U.S.C. § 5379. The Department of Justice agrees to repay certain types of Federal student loans as a recruitment or retention incentive for highly qualified attorneys in exchange for a service obligation of three years. To receive ASLRP, the attorney must qualify, the attorney’s student loans must qualify, and all statutory requirements must be met. Federal agencies have a large degree of discretion in structuring student loan repayment programs. The Department’s policy requires a minimum aggregate loan balance of $10,000 to initially qualify. The ASLRP is intended as a supplement to the individual attorney’s loan repayment obligations, not as a substitute therefor. The Department matches payments rendered by the individual attorney, up to a maximum of $6,000. Attorneys with annual base salaries below $74,000 automatically qualify for the maximum payment without consideration of the amount they paid. However, once an attorney’s annual base salary reaches the “matching funds” threshold of $74,000, the Department considers the amount of annual loan repayments rendered by the individual when determining the ASLRP benefit. The ASLRP contemplates that attorneys will continue making personal payments toward their federal student loans while participating in the program.
Approximate value: $ 750000
Submitted by:
admin
Viewed:
407
times
Added:
Wed May 16 2007
Additional Financial Aid Resources:
