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And if they make less than $60,000, they pay nothing – the loan is forgiven

And if they make less than $60,000, they pay nothing – the loan is forgiven Lorne Sossin was the dean of Osgoode Hall Law School until his term ended last spring. (He remains on the faculty.) During his tenure, he introduced a program that provides an interesting model for other law schools, the Income Contingent Loan Program. The program provides students with the total cost of tuition for all their law school studies – and they don’t have to start paying it back until a year after they graduate. If they make more than $80,000 a year, they must pay back the full share over a 10-year amortization period. If they make between $60,000 and $80,000, the alumnus pays back only part of the share. The pilot project, funded by an initial $1-million investment, was first offered i...

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