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Great news for PDs & others: loan forgiveness

President Bush on Friday signed the Higher Education Opportunity Act (HR 4137). The law expands a student loan forgiveness program for students who become legal aid lawyers, state or local prosecutors and public defenders. Under the law, the attorney general is to assume the obligation to repay student loans for borrowers who agree to remain employed, for at least three years, as: (1) state or local criminal prosecutors; or (2) state, local or federal public defenders in criminal cases. They period may be renewed. The limit is $10,000 per calendar year and $60,000 total. The attorney general must give priority in granting repayment benefits to borrowers who have the least ability to repay their loans. $25 million has been authorized for 2009, but the actual appropriation may be less...continue to full post

Full post as published by Harmful Error on August 17, 2008 (boomark / email).