Disclaimer: This document is not intended to be and should not be regarded as a contract. The Loan Repayment Assistance Program (LRAP) is not an entitlement; eligibility and selection are determined by the Columbia Journalism School (CJS) LRAP Program Committee, at its discretion, and benefits are distributed on a funds-available basis. All determinations made by the School and the committee are final. No appeals will be considered. CJS and the committee reserve the right to restructure or cancel the program at any time.
1. What is the Loan Repayment Assistance Program and how can it help me?The Loan Repayment Assistance Program is designed to help alleviate the financial burden associated with repaying education loans while pursuing a career in the nonprofit news media sector, which offers jobs that typically pay lower salaries than standard news media companies.2. How does the Loan Repayment Assistance Program actually work?
After you graduate, you will start receiving bills to pay back your student loans. The Loan Repayment Assistance Program lends you money, in the form of a forgivable loan, to help you make those payments.3. Does it matter what type of educational loans I borrow - federal or private?
The Loan Repayment Assistance Program is intended to cover federal and private loans related to enrollment at Columbia Journalism School (CJS) that are certified by the CJS Office of Admission and Financial Aid.If the CJS Office of Admission and Financial Aid did not certify the federal or private student loan, then the loan is not eligible for the program.4. What kinds of debt are covered?
The Loan Repayment Assistance Program covers Columbia Journalism debt only, borrowed by the student in the form of federal and some private educational student loans, up to the standard cost of attendance as calculated by the school each year. The Loan Repayment Assistance Program does not cover undergraduate student loans or student loans from other graduate programs.
If the CJS Office of Admission and Financial Aid did not certify the loan, then the loan is not eligible for the program.5. Who is eligible to apply?- Master of Science and Master of Arts graduates of Columbia Journalism School, from the U.S. or other countries, who are:
- employed full time (minimum 35 hours per week) at a qualified U.S. news outlet
- within five years of their CJS date of graduation (graduates are able to participate for up to a maximum of five years in the program)
- given priority if they are making $70,000 or less annually, although those making more are eligible to apply for loan assistance
For dual-degree students, the date of graduation is defined as the date by which the applicant has completed the degree requirements of both schools.6. Can I apply for the Loan Repayment Assistance Program a few years after graduating?
You can apply for the Loan Repayment Assistance Program within the first five years following CJS date of graduation. Graduates from the Classes of 2019 through 2023 are eligible to apply this year. Classes of 2020 through 2024 can apply the following year.
7. What kinds of employment count as “public interest”? What kinds of employers are considered to be in the nonprofit news media sector?
"Public interest" is defined as full-time employment (minimum 35 hours a week) for an organization whose purpose includes the advancement of public interest, as opposed to the interests of particular clients. 8. What types of companies/organizations are eligible? Are there any restrictions on the types of public interest organizations that qualify for the Loan Repayment Assistance Program?
The Loan Repayment Assistance Program is available to graduates employed full time (minimum 35 hours per week) at a news media organization that is an IRS 501(c)(3) recognized tax-exempt organization that is considered to perform a public service and that is nonpartisan and nonsectarian. Preference will be given to organizations that have been in existence and performing public news service activities for at least three years. Organizations that have been performing public news service activities for less than three years will require additional information as part of the application process.Please note that Columbia University employees are not eligible for this award.9. How is the assistance amount determined?
The amount of annual loan assistance awarded to each alum is determined by the qualified education debt level and calculated annual earned and unearned income.
Applicants earning $70,000 or less annually are given priority for loan assistance, but all salary ranges are eligible to apply. Calculations of annual income include bonuses, commissions and housing allowances.
Spousal income and dependents are not considered in determining loan assistance. Significant assets other than retirement accounts will be taken into consideration by the Committee when determining eligibility for loan assistance.
Other relevant criteria may be taken into consideration at the Committee's discretion.10. What is the annual award amount and how long can I receive assistance?
For the accepted applicants, the awards will range between a minimum of $5,000 and a maximum of $10,000 a year, for a maximum of five years.The number and amount of the awards will be determined by the size of the applicant pool and the amount of funds available for the program.
You are required to apply all funds disbursed through the Loan Repayment Assistance Program to the repayment of your loans, even if the amount disbursed exceeds the repayment amount required by the loan servicer at that time. You are required to submit monthly loan statements or canceled checks as proof of repayment. 11. Can I receive assistance from the Loan Repayment Assistance Program while working in a part-time job, internship or volunteering?No. The Loan Repayment Assistance Program is available to graduates employed full time (minimum 35 hours per week) at a news media outlet that is an eligible organization as described below.
Eligible organizations include approved tax-exempt organizations in the United States with 501(c)(3) status of the Internal Revenue Code that perform a clear public service and that is nonpartisan and nonsectarian.
Please note Columbia University employees are not eligible for this award.12. Can I participate in the Loan Repayment Assistance Program if I have already started making loan payments?Yes. This program is not offered in coordination with or as part of any federal program or other loan forgiveness process.13. Can I participate in the Loan Repayment Assistance Program if I have already consolidated my loans or am in default on my loans?Loans must be in repayment or grace status at the time of application, as defined by the loan servicer. We will not consider loans in delinquent or default statuses. Refinanced loans are eligible, but applicants must submit a consolidation disclosure statement provided by the lender which shows the underlying loans.14. What happens if I receive Loan Repayment Assistance and my income or employment status changes during the coverage period?All changes in employment -- employment ends, hours change (from full- to part-time) or any leave of absence (e.g., paternal/maternity/family leave) -- MUST be reported to the CJS Office of Admission and Financial Aid.
Graduates will be required to repay any funds that were given to them for which they have later become ineligible. Please note that failure to repay the portion of the award for which you are no longer eligible will disqualify you from further participation in the Loan Repayment Assistance Program. The Committee reserves the right to make exceptions for special circumstances.15. How does the Loan Repayment Assistance Program impact my eligibility for other forms of financial aid or loan forgiveness programs?
The Loan Repayment Assistance Program is not offered as part of any federal program or other loan forgiveness process.
You will need to check with your loan servicer to determine the impact the Loan Repayment Assistance Program will have on its loan forgiveness program.
16. Are awards from the Loan Repayment Assistance Program considered taxable income, and will I receive a tax form at the end of the year?The Program is intended to provide loan assistance awards that are potentially excludible from the recipient's income under Section 108(f) of the Internal Revenue Code.
Under current guidance from the IRS, in order for the award to be excludible the recipient is required to work (1) in occupations with unmet needs or in areas with unmet needs, and (2) for or under the direction of a governmental unit or a Section 501(c)(3) nonprofit organization (outside of Columbia University). Columbia University employees are not eligible for this award.
Additional information can be found in Section 5 of IRS Publication 970, which can be found at http://www.irs.gov/pub/irs-pdf/p970.pdf
If you have additional questions, you are advised to consult with a financial advisor regarding the tax consequences for loan assistance awards.
Columbia University is not able to advise you on tax matters.17. How do I apply for the Loan Repayment Assistance Program, and what documentation do I need to provide?
Applicants are awarded funding for one year and must reapply to receive funding in subsequent years. Applicants who have been turned down for loan repayment assistance may reapply in the next program year provided they are still within five years of their date of graduation and meet all other eligibility requirements.
- A completed Loan Repayment Assistance Program application, which will be available August 1 and will have an October 15 deadline.
- You will need to log in with your Columbia email address.
- A personal statement (not exceeding 500 words) describing your employer, the nature of your position, your reasons for taking the job, the contributions you hope to make to the organization using your journalism skills and your long-term career goals. This information may be shared with program donors.
- A current resume.
- Verification of outstanding loan debt from lenders or servicers, including a summary statement of total outstanding loan balances, required monthly repayment, history of previous loan payments, and information about your repayment plan and expected payoff dates.
- A certification form from your employer/supervisor indicating the start date of employment, the nature of your position, hours worked per week, and your annual salary (including any commission, bonuses or other financial remuneration).
- If you have not received loan assistance in the past with this employer, then pleae provide information about the organization, its mission and program activities (e.g. annual report, brochure).
- Proof of your employer's 501(c)(3) tax exempt status and a description of its public service activities over the past year.
- A copy of your most recent U.S. Federal Tax Return (1040), including all schedules and W-2 forms.
- Most recent pay statement.
- If your loans were refinanced: a consolidation disclosure statement provided by the lender, showing the underlying loans.
18. How long does the application process take?After the October 15 deadline, we will contact you if we have any questions or if any documents are needed and eligibility decisions will be released mid-December.
19. How are the funds disbursed, and when can I expect to receive assistance?Payments for each annual awards are disbursed as interest-free loans from Columbia Journalism School in one installment in January, which covers the period of January 1 to December 31. Disbursements will be made available via direct deposit, further information will be provided at the time of disbursement.
20. What are the terms and conditions of the Loan Repayment Assistance Program award?
The loan is “forgiven” at the end of the one-year period provided you are still eligible under the terms outlined and have complied with all administrative procedures, including the submission of materials in May and if not applying for a subsequent year, an additional submission in October.
If selected for loan repayment assistance, you will receive an award letter and a promissory note from the CJS Office of Admission and Financial Aid. Your award letter will state how much you have been awarded assuming that there is no change in your income, employment status or debt levels.
You will be asked to sign the promissory note and return it to the CJS Office of Admission and Financial Aid.
It is your responsibility to pay the full amount of your award to the lender or loan servicer prior to the submission of the Eligibility Confirmation materials on May 1.
During the application process, or the period between the receipt of the application materials and the disbursement of the loan assistance payment, you should continue to make all required loan payments.
Each disbursement of funds from the Loan Repayment Assistance Program is made with the understanding that you will remain employed by the eligible organization described in the application for the full year. Any change in job, salary or number of hours (from full- to part-time) must be immediately reported to the CJS Office of Admission and Financial Aid. You will be required to repay any funds advanced for which you have later become ineligible, at an amount prorated to the day that you became ineligible. If the funds are not repaid, you will no longer be eligible for the Loan Repayment Assistance Program.
21. What is the Eligibility Confirmation process?
Graduates who have received loan assistance must submit confirmation materials after receipt of the award in order to continue to qualify for assistance. The deadline to submit the Eligibility Confirmation materials is May 1.
Please note that if you are not applying for an additional year of assistance you must submit the same confirmation materials by the October 15 application deadline. The following materials are required:
1. Proof of annual income, such as a recent pay statement including year-to-date salary information.
2. Proof of loan repayment, in the form of canceled checks or statements from the lender or loan servicer reflecting the full amount of the award.
If you have changed jobs, you will need to submit the following materials:
1. An updated 2-3 page personal statement describing your employer, the nature of your position, your reasons for taking the job, the contributions you hope to make to the organization using your journalism skills and your long-term career goals. This information may be shared with Program donors.
2. Proof of employment at an eligible organization, (the Employment Verification form) from the employer that must include your current annual salary. This Employment Verification will include the starting date of employment, the nature of your position, and your annual salary including any commission or bonuses, and proof of the new organization's 501(c)(3) tax exempt status.
Materials should be received no later than May 1. The LRAP Committee will examine the information you provide, and if it is sufficient, they will cancel the promissory note that you received in your award disbursement. If the renewal materials indicate you are no longer employed with a qualifying organization, you will be notified and expected to repay an amount prorated to the day you became ineligible.