The LRAP concept began at Yale Law School, where Stephen Yandle (Chairman of the LRAP Association Advisory Board) helped design one of the first loan forgiveness programs of its kind in 1989.
Yale's administrators realized the price-tag of attending private law school was causing many prospective students to worry about loan repayment, and its future impact on their career and lifestyle potential. To counter this negative impact on enrollment decisions, they created a program that would provide post-graduate financial security to law school students interested in using their degrees for public service.
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 across the country. Peter established LRAP Association 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.