Judicial Clerkships

LIPP is not intended to cover most judicial clerkships, since graduates who serve as clerks usually proceed immediately to higher-paying positions*. However, graduates who take clerkships and intend to take a LIPP-qualifying position after the clerkship is completed are eligible with the following provisions:

• LIPP will provide clerkship loans during the period of the clerkship to cover any difference between the educational loan payments due in that year that qualify for LIPP coverage and the repayments required under LIPP.
• For those who take a LIPP-qualifying job after the clerkship, the LIPP assistance awarded during the clerkship will be forgiven at the end of the first full year in the post-clerkship position. For two-year clerkships, the second year of clerkship LIPP assistance will be forgiven at the end of the second full year of post-clerkship participation in LIPP.
• Should a graduate fail to take a LIPP-qualifying position, the LIPP clerkship loan will become immediately repayable, with interest compounded (at the rate then used by HLS for market loans) over the clerkship year capitalized. In addition, a finance charge will be added to the principal amount, before compounding, of $250 or 10% of the principal, whichever is higher.

*Graduates doing clerkships who are then moving into non-LIPP positions should consult with the Planning Tools and Exit Information on the Student Financial Services website for advice on how to handle the repayment of their loans during their clerkship.