Professional Development

ABA and SoFi offer student loan debt relief through new contest

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Three ABA members could see a portion of their student loan debt paid off through a new partnership between the ABA and SoFi.

The ABA’s Young Lawyers Division announced in a Twitter post Sunday that the ABA and SoFi, an online personal finance company, are accepting applications for their new Student Loan Relief Scholarship Contest. Entrants must answer the question, “How would an ABA/SoFi Student Loan Relief Scholarship impact your world?” in 500 words or less by the Feb. 29 deadline.

In addition to the essay, entrants must be 21 or older; a college graduate; a legal U.S. citizen or permanent resident, and a current ABA member. They must also have student loan debt that is in repayment status.

A panel of judges will review entries and select the finalists, who will then be asked to provide additional information to a panel of ABA members and staff. The grand prize winner will receive $30,000, the first runner-up will receive $15,000, and the second runner-up will receive $5,000 to put toward their student loan debt.

The application and official rules can be found on the contest website.

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