What is the LRAP Foundation?

LRAP Foundation is an expression of LRAP Association’s social responsibility mission – to increase access to the life-changing power of higher education, for all, while ensuring college remains a financially-attainable reality. Our projects help empower students to attend and graduate from their college of choice, while supporting them in achieving their dreams and highest ambitions after graduation.

We support access and affordability initiatives at colleges and universities across the country, with a focus on underrepresented sub-populations in higher education. Additionally, our Foundation acts as a fiscal agent for donors who share our mission and vision, and receives grants and program-related investments from charities wishing to support wider availability of loan repayment assistance programs.

Our LRAPs are based on the successful and innovative LRAP used by Yale Law School for many years, and serves as an innovative approach to optimizing human potential, while making significant contributions to closing the achievement and education gaps.

Our team of mission-driven thought leaders are dedicated to supporting the efforts of policy-makers, and work alongside like-minded organizations to reaffirm the long-term value of higher education.

History of LRAP Foundation

For more than 25 years, loan repayment assistance programs (LRAPs) have been utilized by law schools to support graduates pursuing careers in public service.  In 2008, the LRAP Foundation was created to increase access to the life-changing power of higher education, and help enable students to enroll at their first-choice institutions, study in their areas of preference, and pursue their true callings after graduation.

The inspiration for the creation of LRAP was a program at Yale Law School, a first of its kind loan program begun in the late 1980s. Yale’s administrators, including LRAP Foundation’s Advisory Board Chairman Stephen Yandle (one of the Yale program designers), realized the price-tag of college attendance was causing many prospective students to worry about loan repayment, and its future impact on their career options and lifestyle potential. They created a program that would provide post-graduate financial security to students interested in using their degrees in public service and other lower paying positions.

After graduating from Yale and benefiting from their loan forgiveness program, Peter Samuelson (Chairman of LRAP Foundation) realized the potential that this program had to help both students and institutions across the country. Peter established LRAP Foundation in 2008, bringing Yandle and other industry experts on to the LRAP Advisory Board, to help shape the future of an organization that would forever change the way that students, families, and institutional leaders would think about the affordability of higher education.

Leadership


Carroll Stevens

President

_873469Carroll helped develop the first LRAP at Yale Law School, and is currently the Senior Vice-President at Cambridge Education. He oversees LRAP Foundation’s program development, philanthropic efforts, and strategy.


Peter Samuelson

Chairman

1399061701Peter is a Yale Law School graduate and former management consultant with McKinsey & Company. He developed the idea for LRAP while serving on a college Board looking for new ways to improve student success.


Kurt Gerrild

Board Member

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Kurt has spent the last 20 years gaining valuable experience in a wide variety of areas relating to Information Technology. He now advises LRAP Foundation in their technology infrastructure development and usage.  


Stephen Yandle

Chair of Advisory Board

_1294261197Stephen developed and help manage the first LRAP at Yale Law School, while serving as Associate Dean there in the late 1980s.  He is now Associate Dean at Peking University School of Transnational Law – Shenzhen.