Osgoode Hall expands financial accessibility programs
Friday, September 29, 2017 @ 3:23 PM | By Carolyn Gruske
Osgoode Hall Law School is increasing one of its funding programs by $200,000 and a second one by $500,000.
The Income Contingent Loan Program (ICLP) began in 2015 with a $1 million investment. Under the program, eligible students are given up to $15,000 annually as a bursary to cover the cost of tuition over the three years of the juris doctor program. They also receive loans to cover other schooling costs. The loans must be paid back in the 10-year period following graduation, assuming the recipients are employed and earning a predetermined amount. If their income is below the threshold, the loan repayment for those years will be forgiven.
The extra $200,000, which Osgoode is adding to the program will permit the law school to issue the funding to seven students per year instead of the previous limit of five, starting in the the fall of 2018.
Osgoode is also adding an extra $500,000 to its Accessibility Fund, which will be allocated to a range of bursaries, including the Wendy Babcock Social Justice Awards, aimed at alleviating the burden for students graduating with high debt and intent on pursuing public interest career opportunities.
“Rising tuition is a serious barrier to access to legal education,” Osgoode dean Lorne Sossin said. “We believe that every admitted Osgoode student should be able to obtain legal education regardless of financial means, which is why we are committed to expanding our existing financial assistance initiatives and developing new approaches to financial accessibility.”
The Income Contingent Loan Program (ICLP) began in 2015 with a $1 million investment. Under the program, eligible students are given up to $15,000 annually as a bursary to cover the cost of tuition over the three years of the juris doctor program. They also receive loans to cover other schooling costs. The loans must be paid back in the 10-year period following graduation, assuming the recipients are employed and earning a predetermined amount. If their income is below the threshold, the loan repayment for those years will be forgiven.
The extra $200,000, which Osgoode is adding to the program will permit the law school to issue the funding to seven students per year instead of the previous limit of five, starting in the the fall of 2018.
Osgoode is also adding an extra $500,000 to its Accessibility Fund, which will be allocated to a range of bursaries, including the Wendy Babcock Social Justice Awards, aimed at alleviating the burden for students graduating with high debt and intent on pursuing public interest career opportunities.
“Rising tuition is a serious barrier to access to legal education,” Osgoode dean Lorne Sossin said. “We believe that every admitted Osgoode student should be able to obtain legal education regardless of financial means, which is why we are committed to expanding our existing financial assistance initiatives and developing new approaches to financial accessibility.”
