Pepperdine Caruso Law
Loan Repayment Assistance Program
Terms and Disclosures
Program and Donors
The Pepperdine Caruso School of Law believes that lawyers best serve their clients,
communities, and society with genuine commitments to excellence, integrity, and professional
responsibility. Caruso Law imparts knowledge of the law, expert skills, and professionalism
to prepare lawyers for careers of purpose, service, and leadership. The Loan Repayment
Assistance Program is among Caruso Law's important commitments to empower our graduates
and alumni in public interest and public service careers.
The Caruso Family's generosity supports a generational commitment to alumni who are
dedicated to careers in public service and public interest practice. The Caruso Family
Loan Forgiveness Fund was established in March of 2003 to relieve law school debt.
Judge Harry T. and Ruth Shafer have established a loan repayment assistance fund for
Pepperdine University Caruso School of Law graduates who have entered careers in public
service. The Caruso School of Law is grateful to Judge and Mrs. Shafer for their generosity.
These loan repayment programs are exclusively for Caruso School of Law graduates who
are working in qualifying JD-required or JD-advantage public service and public interest
positions that meet income limitations as determined by Caruso School of Law.
Eligibility and Definitions:
1. Eligible graduates: Only Pepperdine University Caruso School of Law Juris Doctor
graduates in qualifying employment are eligible for this program. The qualifying applicant's
income level must not exceed an adjusted gross income of $75,000 individually, or
the qualifying applicant's combined family income must not exceed an adjusted gross
income of $150,000. Eligible graduates may receive loan repayment assistance for a
maximum of ten calendar years beginning after they complete a full year of eligible
employment.
2. Application Process: Applicants must apply annually for reimbursement of payments
they made toward their student loans the previous calendar year while they were working
in qualifying employment and making less than the maximum gross adjusted income. Applicants
must certify their employment and provide financial statements to substantiate their
student loan payments and income. Applications open in February each year and are
due by the federal income tax deadline on or about April 15th. The application is
available on the LRAP webpage. Documents may be submitted electronically, or mailed
and postmarked on or prior to the year's standard tax deadline.
3.Qualifying employment: Applicants must be employed full-time in a JD-required or
JD-advantage position with a federal, state, or local government agency or a non-profit
organization for at least one-year as of the application deadline described in section
b above. The employing organization must qualify for non-profit tax-exempt status
under 501(c)(3) or 501(c)(4) of the IRS code or be a government law office or court.
The Law School reserves the right, in its sole discretion, to determine whether a
position is qualifying employment. The Program mandates that the employment (a) require
or prefer a JD for legal practice or law-related work, (b) advance the public interest
and access to justice, (c) be full-time defined by at least 30 hours per week. Applicants
may combine two, paid, part-time positions if both positions are qualifying employment
with a combined average of at least 30 hours per week.
Examples of qualifying employers of past LRAP participants include not-for-profit
organizations that provide legal services to a low-income population or advocate for
immigrants, persons with disabilities, children, the homeless, victims of domestic
violence, environmental justice, human rights, school reform, and public health; governmental
agencies; prosecutor and public defender offices; the military; and courts.
If any graduate is unsure whether their position qualifies they should contact the
LRAP administrator for guidance.
4. Eligible Loans: Educational loans approved by the office of financial aid incurred
for educational purposes while attending law school to meet law school degree requirements
are eligible for assistance from LRAP. Graduates cannot participate in LRAP if they
are in delinquency, deferment, forbearance or default on their original student loans.
Once loan accounts are in good standing, then the Law School will process the LRAP
application. Loans in default are not eligible for LRAP. Subsequent loans that graduates
take to repay defaulted loans are also ineligible for LRAP. Loans to cover the bar
examination after graduation are not eligible for LRAP. Graduates can find detailed
information about their federal loan debt by visiting the Federal Student Aid website
at: https://studentaid.gov/h/manage-loans
Details about private student loans can be found on their credit report.
5. Income Eligibility: If single, the qualifying applicant's income must not exceed
an adjusted gross income (AGI) of $75,000, and if married, the qualifying applicant's
combined family income must not exceed an adjusted gross income of $150,000. AGI can
be found on line 37 of Tax Form 1040. Applicants must report income from all sources,
providing a copy of the most recent federal income tax return, including all schedules,
wage earning statements (W-2 form) and any miscellaneous taxable income reported on
form 1099.
Maximum Loan Repayment Assistance Period: Applicants may receive loan repayment assistance
for up to 10 years, even if the 10 years are not continuous.
6. Loan Repayment Assistance: Applicants must submit proof of the previous calendar
year's monthly payments made to their loan servicer by submitting a copy of their
payment history provided by the lender. Applicants must submit their most recent lender
statement for all loans that they want to be considered for the Program. Upon determination
of eligibility by CSOL for the Program, the LRAP will pay to the applicant the amount
the applicant paid toward their qualifying loans during the previous calendar year.
Payments made to the lender by other loan repayment assistance programs (i.e. employers,
federal programs, schools, etc.) do not qualify for this LRAP.
7. Cap on annual benefits: LRAP payments are subject to a cap set annually by the
Law School. For 2023, the cap on annual payments is $20,000 per participant.
8. Allocation of Limited Resources. This Program operates on limited funding. The
total amount available for loan repayment assistance will be determined annually by
the Dean and LRAP Committee. The Law School reserves the right, in its sole discretion,
to select eligible applicants each year to receive loan repayment assistance and to
determine the specific amount of assistance available to eligible applicants. There
is no guarantee that applicants will receive any loan repayment assistance or those
selected will receive certain amounts of loan repayment assistance. Further, there
is no guarantee that applicants selected one year will be selected in future years..
9. Taxation. Applicants should consult a tax professional to determine whether forgiveness
of their loans, if any, is a taxable event.
Procedures and Administration:
1. Dates: The Program operates on a yearly basis. The application opens the 1st Monday
of February. Eligible graduates, whether or not they have previously received assistance
under the Program, must submit a complete application each year by the typical deadline
for filing tax returns, usually April 15th, to be considered for loan repayment assistance
that repays the previous calendar year's eligible student loan payments. The committee
will strive to announce all funding decisions by end of June. Once selected, applicants
will be asked to submit a completed W-9 form and check payments typically are issued
in July.
2. Application: Graduates can obtain the application forms and information on the
Law School's website. The application requires:
- Resume.
- A copy of the application year's federal income tax return, including all schedules,
wage earning statements (W-2) and any miscellaneous taxable income reported on form
1099.
- A copy of your spouse's (if applicable) most recent federal income tax return, including
all schedules, wage earning statements (W-2) and any miscellaneous taxable income
reported on form 1099.
- A statement which includes all of your educational debts, including lender names and
addresses, total amount borrowed under each loan type, monthly repayment obligations,
and payments made during the previous calendar year.
- Proof that your loans are in repayment and in good standing from all educational lenders
(i.e. letter or billing statement), and proof of the last year's payments.
- An employment evaluation detailing job tasks, work ethic, personal career growth and
salary.
- A signed income disclosure statement, agreeing to report any increase in income.
Inquiries about LRAP may be addressed to:
Financial Assistance Administrator
Pepperdine Caruso Law
24255 Pacific Coast Highway
Malibu, CA 90263-4633
Phone: 310-506-4633
lawfinaid@pepperdine.edu