Georgetown Antes Up $1M to Offer ‘Free’ Tuition to Public Interest Grads
Posted Nov 30, 2009 12:57 PM CDT
By Martha Neil
At least one well-known institution has reportedly found a way to cut the cost of law school for graduates who pursue public interest careers, and another is going to follow suit.
In a plan that dovetails with a new federal program that allows public interest lawyers to pay only 10 percent of their income toward their student loans, Georgetown University Law Center has agreed to cover that 10 percent, reports WAMU.
After 10 years, under the federal program, the student loan debt is forgiven.
Philip Schrag, a law professor who created Georgetown's program, says the University of California's Berkeley School of Law is going to implement the same program and others are mulling the option. Georgetown spends $1 million annually to cover the cost of the 10-percent payments, he tells the NBC-affiliated station, using money provided by alumni donations.