New Financing Model For Legal Ed

This year, Stanford Law School is participating in a pilot program offered by The Flywheel Fund for Career Choice, a new 501(c)(3) nonprofit organized by alumni of Harvard and Stanford law schools, that will use philanthropic contributions to provide current Stanford Law students who need to take out loans with an alternate way to finance their legal education through an Income Share Loan (ISL). The aim of the program is to extend the law school’s Loan Repayment Assistance Program (LRAP) by introducing an alternative financing option that allows for greater career choice while easing the burden of loan repayment. “Improving and enhancing financial aid support as well as financial access and equity for SLS students has been one of my top priorities since becoming dean of the law school,” says Jenny Martinez, Richard E. Lang Professor of Law and Dean of Stanford Law School. “We were the first law school to design and adopt an innovative loan repayment assistance program in the ’80s, which pays back loans for students pursuing careers in public interest and public service. Now we want to give students even more flexibility and freedom. Piloting a potentially innovative new model for financing a legal education is part of our overall efforts to support diversity among our students and in the careers they are able to pursue.” For more, go to