A. Eligible Classes

USD's LRAP is available to law graduates in the graduating class of 1993 and thereafter.

B. Eligible Employment

Graduates are eligible to participate in the Program if they (a) work in full-time law or law-related positions with a nonprofit organization qualifying for tax exemption under section 501(c) 3 or 501(c) 4 of the Internal Revenue Code, and (b) earn an annual salary of $70,000 or less at time of initial application for LRAP participation. At this time, employment with government agencies (including courts) is not qualifying employment.

C. Minimum Debt Requirement

Because one of the objectives of the Program is to help those burdened with the largest debts, a graduate must have a minimum law school debt at the initial application of $80,000 (including private loans). Undergraduate debt may not count toward the minimum debt requirement; however, it will be considered in determining the level of Program benefits available to an eligible graduate.

D. Calculation of Program Benefits

It is the intent of the USD LRAP to vary program benefits based on the graduate's ability to repay law school loans and the amount of funding available for LRAP purposes. For example, an unmarried graduate with no assets making $30,000 per year in qualifying employment might be assisted to a greater degree than would a married graduate who makes $45,000 per year in qualifying employment and has spousal income assistance. Participating graduates will be required to complete standard financial aid forms and submit relevant financial documentation requested by the LRAP Governing Board. The calculation of program benefits will consider, among other things, the graduate's adjusted gross income (AGI) from federal tax forms, spousal income (if any), assets, number of dependents, and other financial obligations. If, based upon the above calculation, the Governing Board determines that a graduate is capable of repaying 100% of his/her loan obligation, then Program eligibility is terminated. Additionally, if a graduate's AGI exceeds $85,000 annually, program eligibility is terminated.