Loan Repayment Assistance Program (LRAP)
The Haas Loan Repayment Assistance Program (LRAP) is designed to provide financial support to recent graduates of the Full-time MBA program employed in the public or nonprofit sectors where salaries are typically lower than in the private sector. Graduates who have accumulated significant debt for their education may feel constrained in their choice of employment by the need to repay that debt. The Haas LRAP provides financial support to facilitate these employment decisions. The program is funded with Professional Degree Fee (PDF) revenue.
The Haas LRAP will issue grants to each qualified participant on a semi-annual basis, providing reimbursement for all or a portion of the qualified educational loan payments made in the preceding six months. Because most educational loans offer a six-month grace period following graduation, graduates going directly into qualifying employment will usually receive their first LRAP payment approximately one year after graduation.
Right to Modify
In the event that funding is not sufficient to fully fund all qualified applicants in the manner anticipated above, the Financial Aid Director will select LRAP participants and determine award levels. The Director may opt to disburse available funds pro rata, or to adjust award levels on an individual basis considering salary and total loan indebtedness. Haas reserves the right to change or modify at any time all or part of the provisions stated in this policy, even as they apply to current participants. The current terms are subject to change at any point.
Important Note: A separate Public Service Loan Forgiveness (PSLF) is offered by the Federal government. Information about qualifying jobs, which loans are covered, and how to earn such forgiveness can be found at Student Aid on the Web. After ten years working full-time in qualifying employment, you may be eligible for this Federal loan forgiveness.