LRAP Assistance

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How does LRAP assistance work?
LRAP assistance is provided in the form of quarterly reimbursements on loan payments made after graduation, and is calculated based on your income and time ...
Wed, Apr 4, 2018 at 1:20 PM
How long do I have to qualify for LRAP assistance after graduation?
In general, you must initially qualify for assistance within 18 months after graduation. If you have not qualified by that point, and are not engaged in any...
Wed, Apr 4, 2018 at 1:21 PM
What documentation do I need to provide when requesting assistance?
Each quarter we need documentation confirming your loan payments (including current principal balance) and income and hours-worked (i.e. copies of your pays...
Wed, Apr 4, 2018 at 1:21 PM
How quickly can I expect to receive my assistance?
In general, assistance requests take between 14-30 days to process.  The sooner you submit all the needed information to process your request, the sooner yo...
Tue, Feb 21, 2017 at 2:35 PM
What if I make more than the Upper Income Threshold in one year, and then change jobs to earn an income below the Upper Income Threshold at a later date?
If your income, as reported on your federal tax return plus any other substantial untaxed income, is above your Upper Income Threshold, you will earn out of...
Wed, Apr 4, 2018 at 1:22 PM
Can I be reimbursed for loan payments made before my grace period ends?
No. Most loans do not enter into repayment status for 6 months following graduation. Thus, with a May graduation, repayment typically begins in November or ...
Wed, Apr 4, 2018 at 1:23 PM
How is assistance affected by the loan limits specified in the Terms & Conditions?
If your LRAP Terms & Conditions specify an annual borrowing limit (e.g. $17,000), but you borrow more (e.g. $20,000) in a specific year, then only the l...
Wed, Apr 4, 2018 at 1:24 PM
Is my Loan Repayment Assistance taxable?
Typically, yes. Individuals working for a qualified employer, as defined by the Internal Revenue Service, however, may receive tax-free repayment assistance...
Wed, Apr 4, 2018 at 1:25 PM
How do job benefits affect assistance?
Any substantial non-taxed income (e.g., housing allowance, living stipend, etc.) is included as part of your total income for purposes of calculating repaym...
Wed, Apr 4, 2018 at 1:23 PM