LRAP Assistance

Default solution folder, feel free to edit or delete it.

How does LRAP assistance work?
LRAP assistance is provided (in the form of quarterly reimbursements) after the end of each calendar quarter in which you have made required loan payments a...
Tue, Feb 21, 2017 at 2:33 PM
How long do I have to quality 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 engaging in an...
Tue, Feb 21, 2017 at 2:34 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 pay-...
Tue, Feb 21, 2017 at 2:35 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 actual income in any year exceeds the Upper Income Threshold, you will not be eligible for assistance at any point in the future, even if your incom...
Tue, Feb 21, 2017 at 2:36 PM
Can I be reimbursed for loan payments made before my grace period ends?
Most loans do not enter into required repayment status for 6 months following graduation. For example, with a May graduation, repayment will likely begin in...
Tue, Feb 21, 2017 at 2:37 PM
How do loan limits specified in the Terms & Conditions affect assistance?
If your LRAP Terms & Conditions specify an annual limit (e.g., $17,000), and you borrow more than that limit (e.g., $20,000) in a specific year, then on...
Tue, Feb 21, 2017 at 2:39 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....
Tue, Feb 21, 2017 at 2:41 PM