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Fund-matching extension increases value of gifts to lawyer loan repayment program

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Any gift contributed by a lawyer to the Indiana Bar Foundation’s Richard M. Givan Loan Repayment Assistance Program this year could potentially quadruple in value, thanks to fund-matching initiatives.

The Indiana Supreme Court has extended the deadline for its fund-matching program until Dec. 31, 2012, and the Indiana State Bar Association is matching donations until June 2013. Foundation executive director Charles Dunlap explained that an initial donation of $500 would be matched by the state bar, and the Supreme Court would in turn match that $1,000, resulting in a total donation of $2,000 for the LRAP.

“It’s been a tough year with the continuously low interest rates from IOLTA that have devastated the funds available for pro bono organizations,” said Dunlap. “We are optimistic that the legal community will understand it is up to each of us to ensure access to justice is a reality for low-income Hoosiers.”

The LRAP benefits attorneys who work for pro bono and legal aid providers, whose incomes may make repayment of student loans a challenge.

The Supreme Court originally announced in 2009 that it would match donations to the LRAP program until November of 2011. But it will continue to match donations up to Dec. 31, 2012, or until the foundation reaches its goal of $175,000. So far, the foundation has raised $90,000 for the LRAP.

 

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