Work in the public interest is a valuable and fulfilling career option, and the University of Chicago Law School is committed to making such options available for its graduates. One obstacle is the large educational debt many undertake to pay for their undergraduate and graduate education. In response, the Law School created a unique and generous program to assist its graduates who pursue careers in the public interest. The Hormel Public Interest Program, or "HPIP," is not a traditional loan repayment assistance program. There is not a lengthy time requirement to receive benefits, and benefits are provided regardless of spousal income or potential family contributions. We like to think that the HPIP approach is the best way to support and encourage our graduates. Brief Summary: HPIP replaces the previous University of Chicago Loan Repayment Assistance Program, and is available beginning with the Class of 2007. University of Chicago Law School graduates who work full-time in a qualifying job with a salary of less than $50,000 will receive an interest-free loan of $5,000 a year from the Law School, with each loan forgiven in full before the end of each year. Benefits under HPIP are available for the five years following graduation, for a potential total of $25,000. The benefit is available regardless of parental, spousal, or other income Requirements and Restrictions Full Time: The position must be full-time (40 hours per week maintained for at least nine months of the calendar year, and in a year that is within five years of graduation Salary Requirements: Full qualification requires a salary of less than $50,000 annually. Graduates earning between $50,000 and $60,00 annually will be eligible for an award that decreases proportionally as income rises. Qualified Public Interest Position: The graduate must be: (a) engaged in the full-time practice of law, or in positions normally requiring a law degree; (b) working for the public interest, broadly defined; and (c) working for a non-profit organization or government office other than in a judicial clerkship (see below for treatment of judicial clerkships). Final determinations of eligibility will be made by the Financial Aid Committee of the University of Chicago Law School. Judicial Clerkship Exception: For graduates who work at a qualifying job in the year following a judicial clerkship, the graduate will receive an additional year of eligibility for HPIP benefits. Clerks can receive up to five years of benefits within the six-year period immediately following graduation. Parental Leave Extension: Graduates who leave HPIP for parental leave will be given an additional year of eligibility. They can receive up to five years of benefits within the six-year period following graduation. Distribution of Funds: Participants will apply by September 1 for the year. Loans will be made in October and then forgiven the next July, subject to the Program's requirements. Graduates who continue in the Program confirm their continuing HPIP status by September for the next year. Award Amounts and Restrictions: The base award of $5,000 per year is available to all graduates who begin law study at the University of Chicago Law School in the Class of 2007. the Program does not cover LLM graduates. Transfer students who join the Class of 2007 are eligible on a proportional basis, so that a transfer student who graduated after spending two years at the Law School would be eligible to receive up to two-thirds of $5,000 ($3,333) in each of the five years of eligibility. Loan Repayment Requirement: To qualify, a graduate must agree that the entire amount received from HPIP will repay outstanding educational debt. A graduate who otherwise qualifies but whose outstanding debt is less than the amount to be awarded will receive a benefit equal to the amount of their outstanding debt. This requirement conforms to current Internal Revenue Service Rules. Tax Considerations: The program participant must determine whether payments under the plan should be included in ordinary income or exempted pursuant to Section 108(e) of the Federal Tax Code (26 U.S.C. § 108(e)). Our goal has been to design a program with tax-exempt benefits. Financial Aid Committee: All HPIP benefits must be approved by the Financial Aid Committee of the University of Chicago Law School. All decisions by the Committee are final.

To qualify for up to $5,000 loan forgiveness under this program you must not have had an outstanding balance on a FFEL or Direct Loan program loan as of October 1, 1998. To qualify for the increased amount of loan forgiveness up to $17,500 available for certain mathematics, science, and special education teachers, you must not have had an outstanding balance on a FFEL or Direct Loan program loan as of October 1, 1998, or on the date that you obtained a FFEL or Direct Loan program loan after October 1, 1998 and before October 1, 2005.

Applicants sign contractual agreements with the Secretary for 2 years and fulfill their agreements through full-time clinical practice at an IHS facility or approved Indian health program. In return, the LRP will repay all or a portion of the applicant's eligible health professionals educational loans (undergraduate and graduate) for tuition expenses. Applicants are eligible to have their educational loans repaid in amounts up to $20,000 per year for each year of service. In addition, the LRP will pay up to 20% of Federal taxes directly to the Internal Revenue Service (IRS)--incurred as a result of payments made on behalf of recipients. Note: Loan repayments are deemed taxable income.

About the Nursing Education Loan Repayment Program The Nursing Education Loan Repayment Program (NELRP) offers registered nurses substantial assistance to repay educational loans in exchange for service in critical shortage facilities. Authorized by Section 846 of the Public Health Service Act, as amended, the purpose of the NELRP is to assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations. Individual Eligibility Requirements Applicants must meet the following eligibility requirements by the application due date: * Be a registered nurse (RN) * Have received a baccalaureate or associate degree in nursing (or an equivalent degree), a diploma in nursing or a graduate degree in nursing from an accredited school of nursing * Have unpaid qualifying loans obtained for nursing education leading to a degree or diploma in nursing * Have completed the nursing education program for which the loan balance applies * Be a citizen, national or permanent legal resident of the United States * Be employed full time (32 hours or more per week) at a critical shortage facility * Have a current permanent unrestricted license as an RN in the State in which they intend to practice or be authorized to practice in that State pursuant to a Nurse Licensure Compact * Submit a complete FY 2005 NELRP application, signed NELRP contract and all required documentation by 5 pm ET of the application due date

According to the Pennsylvania Department of Health’s Special Report on the Characteristics of the Registered Nurse Population in Pennsylvania (distributed in November of 2002): * Average age of RNs employed in health care is 45.9 years. * Almost one-third (32%) of RNs are between the ages 50-64. * As many as 47% of RNs plan to leave nursing within the next 10 years. The “baby boomer” generation is getting older; coincidentally, the need of long-term care is increasing, and the cost of nursing education is on the rise—all of which mean the nursing shortage Pennsylvania is facing will only worsen. To help recruit and retain qualified nursing students in Pennsylvania, the "Nursing Loan Forgiveness for Healthier Futures" program will help you repay your student loans. By working for a participating Pennsylvania health care organization, after graduation from an approved nursing education program, you may receive student loan forgiveness for up to 25 percent (a maximum of $12,500) of your eligible debt over a three-year period.

A federal and state by state compendium of federal, state, local, and private programs for loan forgiveness in education.

AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.

Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000.

Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.

Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.