<p>The following are some exerpts from an article in last Friday’s New York Law Journal:</p>
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NEW YORK - A bright spot in an otherwise grim economic situation at many New York public service law agencies comes by way of President George W. Bush’s blessing on a bill providing significant new relief for attorneys fresh off the campus and strapped with mortgage-sized tuition debt. </p>
<p>On Aug. 14, Mr. Bush signed into law the 2008 Higher Education Opportunity Act. Under it, attorneys who commit to a three-year minimum of work on civil matters at nonprofit legal organizations can qualify for $6,000 in annual student loan repayments, up to a cap of $40,000.
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The Legal Aid Society’s starting salary of $50,000 is typical for New York City public law lawyers, rising to $53,000 after passing the bar exam.
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Edwina Frances Martin, director of communications and government relations for Legal Services for New York City, said the new federal program is “something we’ve wanted to have happen for a very long time.” While some law schools offer tuition assistance for graduates employed at agencies such as hers, she noted, most do not.
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<p>while any loan forgiveness is a good thing, i caution people thinking this program will make a huge difference for them, to really stop and look at how much of their debt would be covered – $40,000 could still leave an enormous amount of debt left.</p>