Yale loan forgiveness program for students pursuing non-profit career

cheeyong

一些学校对于想从事non-profit工作的学生，都会有贷款豁免。提供Yale的参考一下。

In accord with the School’s mission of educating leaders for business and society, the Yale School of Management supports a Loan Forgiveness Program for SOM alumni working in the nonprofit or public sectors. Participants with annual income less than $70,000 receive 100% of their loan payments. Participants with income higher than $70,000 are expected to contribute 20% of the amount above $70,000 toward loan repayment.

Eligibility
Eligibility is based on: type of employment, income, and need-based educational indebtedness.

Alumni may apply at any time during the first 10 years following graduation. Alumni engaged in a medical residency program are not eligible for Loan Forgiveness during the period of their residency.

International students should contact the Financial Aid Office for information; determination of eligibility will be made by the Loan Forgiveness Committee.

Type of Employment
Eligible employment is defined as full-time employment in a government organization or nonprofit 501(c)(3) or 501(c)(4) tax-exempt organization in the United States, or the equivalent abroad. Up to 3 months of family leave are permitted, provided the participant returns to eligible employment.

Income
For alumni in the first year following graduation, income is the total annual compensation as specified in the offer of employment.

Beginning with the second year following graduation, income is the applicant’s annual salary as verified by the employer, together with any additional (e.g., interest/dividend) income listed on the most recent federal income tax return. Spouses’ salary is excluded from the income calculation. Participants may deduct $5,000 for each dependent claimed on their federal income tax returns.

Income	Program Coverage
Up to $70,000	Program covers 100% of loan payments
$70,000+	Participant contributes 20% of the income amount above $70,000 to their annual loan payments. Example: participant with Income of $80,000 will contribute $2,000 (20% of $10,000)

coffemug

Sofa!   Thank Cheeyong for your information!  

I need an admission from YALE first.     

Is this only for non-profit career track?   How about someone like me want to work for for-profit first, and may work in non-profit later?   Maybe I need to be patient and wait to worry about this after getting admitted. I am still nevious about my interview with YALE this month.   
BTW, how long did you get your admission notice after the interview?  Did it take long?

cheeyong

I got my invitation by phone four days before holiday.