Long-Term Value of the Tuition Reduction
Less borrowing now means greater long-term financial strength for every student. It is projected that with our reduction in tuition, the median debt for ONU Law students will decrease to $79,499, a nearly $26,500 reduction from existing median debt projections. A nearly $9,000 tuition cut is the largest known tuition cut of any private law school in the U.S. at this time, and we are proud to be taking the lead in affordability and true value.
Federal Loan Repayment Programs
The IBR plan strives to make a monthly loan payment more affordable for students. The IBR is based on your current income, and the payment may be adjusted annually based on changes to your income. If you are enrolled in the IBR plan, and make regular payments for 25 years, any remaining loan balance will be forgiven at that time. Students can use the IBR calculator at studentaid.gov to learn if you qualify. All federal loans are eligible for this program, except Parent PLUS loans.
ONU Law ranked 9th in the nation for placing students in government and public interest jobs according to the National Law Journal. The PSLF program was established to encourage individuals to enter into public service work, and therefore has a great impact on ONU Law graduates. PSLF forgives the remaining balances of your loans after 120 qualifying payments have been made. To qualify for this program, the borrower must be working for a public service organization throughout the duration of the 120 payments. A “public service organization” encomapsses federal, state, and local government organizations or agencies and most charitable non-profit organizations. Payments made through the Income Based Repayment program count towards the 120 payments required for the PSLF.