2008-2009 PROGRAM GUIDELINES SUMMARY

To encourage and enable law school graduates to enter and remain in public service, NCLEAF sponsors a loan repayment assistance program. The Program provides for no-interest loans in the first three years of public service employment, followed by loan forgiveness for continued public service. To be eligible for consideration for the Program, an Applicant must meet the following requirements:

Have graduated from an ABA accredited law school. In addition, a Participant must be a licensed member in good standing of a state bar.

Work full-time in a law-related public service job in North Carolina. Examples of qualifying employment include a federal, state or local government agency, an organization providing legal services to the poor, and a Section 501 (c) (3) nonprofit organization.

For attorneys in their first year of practice, have an Eligibility Determination Income, as defined under these Guidelines, of no more than $42,000. For attorneys who have practiced at least one year but have not completed two years of practice, have an Eligibility Determination Income as defined under these Guidelines, of no more than $46,000. For attorneys who have practiced at least two years, have an Eligibility Determination Income as defined under these Guidelines of no more than $51,000.

Once accepted into the program, must not be in default on any loan and must be current and not in forbearance on any law school educational loans.

Must use all funds provided by NCLEAF towards repayment of eligible educational loans and pay to his/her lender(s) the additional amount necessary to make the full loan payment each month.

THE BOARD RESERVES THE RIGHT TO MODIFY THE TERMS OF THE PROGRAM.

ELIGIBILITY AND CONSIDERATION BY THE BOARD DOES NOT GUARANTEE THAT ANY ASSISTANCE WILL BE RECEIVED.

ALL PAYMENTS BY NCLEAF PURSUANT TO THIS PROGRAM ARE CONTINGENT ON THE AVAILABILITY OF SUFFICIENT FUNDING TO NCLEAF.