History of LRAP
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For more than 20 years, Loan Repayment Assistance Programs have been utilized by law schools to increase enrollment and retention, while supporting future public service professionals. LRAP Association identified a similar need among undergraduate schools and began offering its own program in 2008, with a focus on four-year colleges and universities. We currently provide loan repayment assistance programs to a wide-variety of colleges and universities across the country. LRAP Association is dedicated to increasing access to the life-changing power of higher education, for all.
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“Students are rightfully concerned about after-graduation debt-anxiety.
Administrators are rightfully concerned about their alumni in this economy.
Providing this tool is the least we can do to protect them.”
- Scott Raymond, Executive Director of the Office of Student Success, Huntington University
The LRAP concept began at Yale Law School, where Stephen Yandle (Chairman of the LRAP Association Advisory Board) helped design one of the first loan forgiveness programs of its kind in 1989. Yale's administrators realized that the high cost of attending private law school was causing many prospective students to worry about how they would pay back their student loans after graduation. To counter this negative impact on enrollment decisions, they created a program that would provide post-graduate financial security to law school students interested in using their degrees for public service.
As a recipient of Yale's loan forgiveness program, enabling him to do international service work for a year after graduation, Peter Samuelson (President of LRAP Association) realized the potential that this program had to help both students and institutions across the country, beyond Yale, and beyond the private law school sector. Peter established LRAP Association in 2008, bringing Yandle and other industry experts onto the LRAP Advisory Board to help shape the future of an organization that would forever change the way that students, families, and institutional administrators would think about the affordability of higher education.
For a comprehensive understanding of why LRAP was created, feel free to read the description by Stephen Yandle, further explaining the need, benefits, and impact of our Loan Repayment Assistance Program: Why LRAP was Created
As a recipient of Yale's loan forgiveness program, enabling him to do international service work for a year after graduation, Peter Samuelson (President of LRAP Association) realized the potential that this program had to help both students and institutions across the country, beyond Yale, and beyond the private law school sector. Peter established LRAP Association in 2008, bringing Yandle and other industry experts onto the LRAP Advisory Board to help shape the future of an organization that would forever change the way that students, families, and institutional administrators would think about the affordability of higher education.
For a comprehensive understanding of why LRAP was created, feel free to read the description by Stephen Yandle, further explaining the need, benefits, and impact of our Loan Repayment Assistance Program: Why LRAP was Created
