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Repay As You Earn: The Flawed Government Program to Help Students Have Public Service Careers Kindle Edition
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In 1993, Congress created a student loan repayment plan intended to enable high-debt graduates to accept low-income, public service jobs by reducing their loan payments and eventually forgiving part of their debts. But this Congressional initiative only helps those with catastrophically low incomes. It has failed to attract many users because, as implemented through regulations of the U.S. Department of Education, it requires payment over too long a period (25 years before forgiveness).
Many students go to graduate and professional schools in pursuit of careers in public service. But they often must borrow $100,000 or more to finance their education. Their loan repayment obligations become so high that they can no longer afford to follow their ideals, and they abandon their plans to have public service careers and seek employment with corporations or firms offering high salaries. The income-contingent repayment plan should have appealed to would-be public interest lawyers, who are among the graduates with the highest debt-to-income ratios; but the plan has failed them, and Schrag explores why and how the plan should be reformed, either by Congress or by the federal administration.
- ISBN-13978-0897898348
- PublisherPraeger
- Publication date30 November 2001
- LanguageEnglish
- File size2096 KB
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Product description
Review
"Repay As You Earn provides a sound review of recent federal efforts to ease repayment burden for students choosing a public service careers. It also provides a case study documenting the reason why a low percentage of law school graduates has not chosen this alterative repayment scheme....The book as a whole provides a credible analysis of a recent policy change, along with recommendations that merit consideration. The argument that better information should be provided should be heeded by the US Department of Education. Not only does the fact that this repayment option is underutilized by those who could benefit from using it is prime facie case for improving the quality of information, but this book provides compelling research evidence to support this case....Repay as you Earn should be good reading for students interested in higher education policy. It should also be helpful to financial aid administrators who would like to learn more about the income contingent repayment option."-The Journal of Higher Education --This text refers to the hardcover edition.
About the Author
Product details
- ASIN : B000PY3IGO
- Publisher : Praeger (30 November 2001)
- Language : English
- File size : 2096 KB
- Text-to-Speech : Enabled
- Enhanced typesetting : Not Enabled
- X-Ray : Not Enabled
- Word Wise : Enabled
- Print length : 184 pages
About the author

Philip G. Schrag, the Delaney Family Professor of Public Interest Law at Georgetown University Law Center, teaches Civil Procedure and directs the Center for Applied Legal Studies, in which students represent refugees from persecution who are seeking asylum in the United States. Before joining the Law Center faculty in 1981, he was assistant counsel to the NAACP Legal Defense Educational Fund, the Consumer Advocate of the City of New York, a professor at Columbia University Law School, and Deputy General Counsel of the U.S. Arms Control and Disarmament Agency, from which he received a Meritorious Honor Award in 1981. Professor Schrag has also had a distinguished and varied career in civic service, which has included positions as a delegate to the District of Columbia Statehood Constitutional Convention in 1982, an editor and consultant on consumer protection during the Carter-Mondale transition, a consultant to the New York State Consumer Protection Board, a consultant to the Governor's Advisory Council of Puerto Rico, an advisor to the Committee of Chinese Legal Educators, and an Academic Specialist for the United States Information Agency in the Czech Republic and Hungary. In addition, he drafted New York City's Consumer Protection Act of 1969. He has written or co-authored fourteen books and dozens of articles on consumer law, nuclear arms control, legal ethics, political asylum, and various other topics for both law journals and popular publications. In 2008, he received the Association of American Law Schools' Deborah L. Rhode award for advancing public service opportunities in law schools through scholarship, service and leadership, the Lexis/Nexis' Daniel Levy Memorial Award for Outstanding Achievement in Immigration Law, and the Outstanding Law Faculty Award from Equal Justice Works.
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