LRAP Association was inspired by a program at Yale Law School, a first of its kind loan program begun in the late 1980s. LRAP Advisory Board Chairman Stephen Yandle – one of the Yale program designers – realized the price‐tag of attendance was causing many prospective students to worry about loan repayment, and its future impact on their career options and lifestyle potential.
A program was created 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 (President of LRAP Association) realized the potential that this program had to help both students and institutions. Peter established LRAP Association in 2008, bringing Yandle and other industry experts on to the LRAP Advisory Board, to help shape the organization and change the way that students, families, and institutional leaders think about the affordability of higher education.