The new College Cost Reduction and Access Act, which took effect October 1, 2007, is excellent news for law students who want to pursue a career in the public sector. Reporter Dan Cassuto of Madison’s WKOW-TV interviewed UW Law School student Jessica McNamara for his October 1 news report about the difference the new law will make to some students’ lives.
The text of the TV spot appears below.
Government to Forgive Student Loans After 10 Years
By Dan Cassuto
WKOW-27 News
Mike Murray is the envy of many aspiring lawyers. He uses his UW law degree to help sexual assault victims for a Madison non-profit.
"I didn't have to make the decision about going and doing a job I didn't like in order to pay off my loans," said Murray.
The federal government hopes a new law that takes effect today, called the College Cost Reduction and Access Act, will help recent graduates pursue their passions like Murray, and make a difference at the same time.
The program wipes out outstanding education debt after 10 years working in the public sector and making regular loan payments. Public sector is defined broadly, including government, military, education, and non-profit jobs.
This law will change Jessica McNamara's life. She's a UW law student who says she wants a law degree to do some good for the community.
"I wanted to be helping disadvantaged communities, or people living in poverty," she said.
That dream would be impossible before this law emerged. She was planning to take a job at a large private law firm to earn enough money to make a dent in her $120,000 of student loan debt. That decision is common for many law students. Law firms pay upwards of $160,000 a year to recent graduates, whereas jobs in the public interest law sector pay much less, often near $35,000.
For more information on this federal program, contact the U.S. Dept. of Education. Their toll-free number is 1-800-4-FED-AID.
Submitted by on October 4, 2007
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