Earlier today, we mentioned that Northwestern University School of Law has stepped up to help law students harmed by the terrible economy. We now have the full memo that details all the steps the school is taking to actually help students with the misfortune of graduating during the worst legal economy in recent memory. The school has some great plans to help its soon-to-be alumni:

[W]e are taking proactive steps to identify and establish additional ways that the Law School can help our graduating students and alumni during this challenging period. These options are grounded on the premise that it is important to continue pursuing activities that build your network, your skill set, and your resume. If you are currently in the midst of a job search, have been notified of a deferred start date by your future employer, or are experiencing other related circumstances, I encourage you to consider the following alternatives, which may serve as a short-term bridge to the next step in your career and the ensuing recovery in our economy which will eventually occur.

As the Chicago Tribune reported, the headline news is that Northwestern is encouraging people to apply for extended loan forbearance. For loans taken out directly with Northwestern, the school offers up to 36 months of forbearance, without a balloon payment requirement at the end of the period.

But just as importantly, Northwestern is helping people out with health care:

Health Insurance Extension

Graduating students with University Health Insurance may apply for privately provided Short Term Medical Insurance to bridge the gap between the termination of University coverage (August 31, 2009) and their employment start date. There are a number of products on the market, but the product that is recommended by Northwestern University, and with which University graduates have reported high levels of satisfaction, is offered by United Health Care: https://www.uhcsr.com/SHIP/ShortTermInsurance.aspx.

Northwestern also offers a short-term medical plan through Marsh Affinity Group Services for alumni who are seeking post-graduation employment; between jobs; in part-time or temporary positions; or in other circumstances that may require short-term health insurance coverage. For more information including a free online quote, please consult this website or call [Redacted].

You may finance the cost for this short-term health insurance coverage through Bar Examination Loans (see next). We also are researching alternative options for bridging the health insurance gap.

In this market people need their pills. There are so many deferral programs that are not helping incoming first years with health care that it is starting to look like a lottery system to see who ends up with coverage. Standardizing the process for all Northwestern graduates should really help the school’s students.

Did you notice that line about a bar loan? We get into that and post the full memo after the jump.

As you might have noticed, some firms are pushing people back an extra couple of months, but are not offering anything more than a bar stipend despite the extra time off.

Well, if you can get one bar loan, you might as well try to get two:

Bar Examination Loans

Graduating students may apply for a bar examination loan to assist with expenses (including the health insurance costs described above) while studying for the bar exam. You may apply for a bar examination loan up to a few months after graduation and turnaround time for the funds to disburse is typically less than two weeks. There are many lenders that offer bar examination loans. Lenders typically describe the terms and conditions on their website and in their application. Note that lenders will require international students to provide a US citizen or permanent resident as a co-signer. Please contact [Redacted] for more information about bar examination loans.

A couple of weeks ago, we mentioned that one thing law schools should consider would be expanding their clinical program options to graduating students. At the time, we wrote:

If law schools did this, 3Ls who’ve had their start dates deferred would be able to get the public interest position they need in order to get their deferral stipend, without having to compete with everybody else in a few choice cities. And they’ll get to spend the year in an environment they are familiar with, as opposed to trying to learn an entirely new city for a transient year.

It looks like Northwestern was ready and able to take that step:

Bluhm Legal Clinic Unpaid Internship Opportunities

As a means to assist graduating students and alumni who are experiencing delayed start dates conditioned with a public interest requirement, our Bluhm Legal Clinic has arranged to provide opportunities for students to work as unpaid interns in several of its centers and programs. If you have a deferred start date with a public service requirement and are interested in one of these opportunities, please contact [Redacted]. Please also consult with your prospective employer to ensure that this will fulfill its public service requirement.

Opportunities with Other Public Interest Organizations

We have identified several public interest employers who are interested in hiring students and alumni as interns (possibly unpaid). These opportunities are being tracked by our Career Strategy Center and will be listed and updated on our website. These options could be open to all students but may be of particular interest to students with delayed start dates conditioned upon public service work.

None of these steps can replace a $160K Biglaw job. But Northwestern appears to be doing what it can. Instead of telling students that they are on their own — or waiting for law firms to figure it out — the school looked inward and tried to figure out what it could do to help.

Maybe U.S. News doesn’t have a metric for “Responding to an Unprecedented Crisis,” but it might be something that prospective law students should think about.

Read the full memo below, Northwestern has come up with all sorts of interesting initiatives.

NU’s law students offered help while waiting out job freeze [Chicago Tribune]

Earlier: Open Thread: What Can Law Schools Do?

NORTHWESTERN UNIVERSITY SCHOOL OF LAW — MEMO — ADDITIONAL SERVICES

As we approach the end of the academic year, our nation’s economy continues to struggle through a deep and prolonged global recession. Recently, some positive signs have begun to emerge; yet many economists forecast continued tightening in the labor market through the duration of the calendar year. The legal services industry is not immune. Like most sectors, it continues to experience significant strain as law firms and other legal employers attempt to adapt to the current circumstances. Several have announced layoffs; a few have suspended operations; and many are now contacting incoming associates and new hires with the news that their start dates will be delayed anywhere from three months to a year, sometimes conditioned upon short-term employment with a public interest organization.

With these realities in mind, we are taking proactive steps to identify and establish additional ways that the Law School can help our graduating students and alumni during this challenging period. These options are grounded on the premise that it is important to continue pursuing activities that build your network, your skill set, and your resume. If you are currently in the midst of a job search, have been notified of a deferred start date by your future employer, or are experiencing other related circumstances, I encourage you to consider the following alternatives, which may serve as a short-term bridge to the next step in your career and the ensuing recovery in our economy which will eventually occur.

A. Graduating JD and JD-MBA Students and Alumni with Delayed Start Dates Conditioned on Public Interest Employment

Bluhm Legal Clinic Unpaid Internship Opportunities
As a means to assist graduating students and alumni who are experiencing delayed start dates conditioned with a public interest requirement, our Bluhm Legal Clinic has arranged to provide opportunities for students to work as unpaid interns in several of its centers and programs. If you have a deferred start date with a public service requirement and are interested in one of these opportunities, please contact [Redacted]. Please also consult with your prospective employer to ensure that this will fulfill its public service requirement.

Opportunities with Other Public Interest Organizations
We have identified several public interest employers who are interested in hiring students and alumni as interns (possibly unpaid). These opportunities are being tracked by our Career Strategy Center and will be listed and updated on our website. These options could be open to all students but may be of particular interest to students with delayed start dates conditioned upon public service work.

B. All Graduating Students and Alumni

LLM Tax Program
We have decided to extend the application deadline for our Graduate Tax Program to June 1 for Northwestern Law students and alumni. As a one-time option, we also will waive one semester of tuition for Northwestern Law graduating students and alumni who are accepted and enroll in this two semester program in Fall 2009, thereby matching the total tuition cost of Northwestern Law students who pursue our joint JD-LLM in Taxation Program. Please contact [Redacted] if you are interested in applying.

LLM Human Rights Program
We have also decided to extend the application deadline for our LLM in International Human Rights Program to June 1 for Northwestern Law students and alumni. As a one-time option, we also will waive one semester of tuition for Northwestern Law graduating students and alumni who enroll in this two semester program in Fall 2009. Please contact [Redacted] if you are interested in applying.

Additional Career Counseling with Alumni Legal Recruiters and Consultants
Some of our alumni who work as professional legal recruiters and consultants and who manage executive search firms have agreed to provide free or discounted individual counseling to Northwestern Law students and graduates. Please contact [Redacted] for further information.

Webinar Program for Northwestern Law Alumni and Current Students
The Center for Career Strategy and Advancement and the Office of Alumni Relations will host a webinar on Thursday, April 16 from noon to 1 p.m. (CDT) during which we will present a snapshot of the legal job market as well as job search and coping strategies. This program is designed primarily for alumni but students from all programs are welcome to participate. Click here to register for this free online event.

Reciprocity with Other Law School Career Offices
Northwestern Law students and alumni may request reciprocity in order to gain access to the career offices at most law schools in other cities throughout the country for a prescribed period of time by submitting this form. Note that many law schools have black out dates (usually in the fall) during which reciprocity requests will not be granted. We will notify you of the outcome of your reciprocity request by e-mail. Please contact [Redacted] for further information.

Student Loan Repayment Options
Students and alumni may apply for forbearance on their Northwestern and Federal Loans in order to reduce or postpone scheduled loan payments until the end of a forbearance period.

NORTHWESTERN LOANS: Students and alumni may apply for forbearance on their NU Loans. Interest does accrue and is capitalized at the end of the forbearance period but Northwestern does not require that a balloon payment be made at the end of the forbearance period to make up for the missing payments. The repayment schedules are recalculated over the remaining term of the loan. Northwestern also does not require payments during the forbearance period (though you may make payments if you choose to do so). You are allowed a total of thirty-six months of forbearance time during the ten year repayment term. Forbearances are usually approved in six month increments. Please contact the Student Loan Office (studentloans@northwestern.edu), to discuss your options. Note that this should not have a negative impact on your credit score. Please consult this website for more information.

FEDERAL LOANS: For federal student loans, borrowers enter a grace period after graduation (six months for Stafford, nine months for Perkins, and ninety days for Graduate PLUS) which means you are not required to begin to make payments while you are in your grace period. Many lenders will offer you a forbearance on your Graduate PLUS loans that will suspend payments until your Stafford loan goes into repayment. After your grace period has ended, you have the ability to request forbearance with your lender, which will allow for scheduled payments to be reduced or postponed until the end of the forbearance period. Interest can be paid as it accrues and it can be capitalized at the end of the forbearance period. Forbearance periods range from three months to one year. To initiate the process, you must contact your federal student loan lender. Your Stafford loan lender will be different than your Perkins loan lender. Please make sure you contact all lenders regarding repayment options.

C. All Graduating Students

Health Insurance Extension
Graduating students with University Health Insurance may apply for privately provided Short Term Medical Insurance to bridge the gap between the termination of University coverage (August 31, 2009) and their employment start date. There are a number of products on the market, but the product that is recommended by Northwestern University, and with which University graduates have reported high levels of satisfaction, is offered by United Health Care: https://www.uhcsr.com/SHIP/ShortTermInsurance.aspx.

Northwestern also offers a short-term medical plan through Marsh Affinity Group Services for alumni who are seeking post-graduation employment; between jobs; in part-time or temporary positions; or in other circumstances that may require short-term health insurance coverage. For more information including a free online quote, please consult this website or call 877-249-7868.

You may finance the cost for this short-term health insurance coverage through Bar Examination Loans (see next). We also are researching alternative options for bridging the health insurance gap.

Bar Examination Loans
Graduating students may apply for a bar examination loan to assist with expenses (including the health insurance costs described above) while studying for the bar exam. You may apply for a bar examination loan up to a few months after graduation and turnaround time for the funds to disburse is typically less than two weeks. There are many lenders that offer bar examination loans. Lenders typically describe the terms and conditions on their website and in their application. Note that lenders will require international students to provide a US citizen or permanent resident as a co-signer. Please contact [Redacted] for more information about bar examination loans.

D. Graduating JD and JD-MBA Students

Additional Networking Opportunities with a Member of our Law Board
We are contacting members of our Law Board to serve as additional networking contacts for Northwestern Law graduating students. Second-year students may also participate. The Law Board is the Law School’s main advisory board and its membership can be found on our website. Please contact [Redacted] to obtain further information about this service.

711 License
If you are not planning to take the July bar examination, you may be able to practice in a qualifying public interest organization under a 711 license for up to 18 months. According to the Illinois Supreme Court website, “Unless otherwise provided by the Administrative Director for good cause shown, or unless sooner withdrawn or terminated, the certificate shall remain in effect until the expiration of 18 months after it is filed, or until the announcement of the results of the first bar examination following the student’s graduation, whichever is earlier. The certificate of a student who passes that examination shall continue in effect until he/she is admitted to the bar.” For more information and a list of qualifying employment, click here.

E. Graduating LLM Tax Students

Research Assistantship with a Tax Program Faculty Member
To assist graduating LLM in Taxation students who are seeking employment, members of our Tax Program faculty have created a limited number of openings for short-term research assistantships. A modest stipend may be associated with these research projects. Please contact [Redacted] for more information about these opportunities.

I hope these services will assist many of you during this difficult time. Additionally, please remain in close communication with your career advisor (whose contact information is included here) and feel free to contact me or other members of our faculty and staff if we can be of additional help.

We are deeply interested in the success of all of our students and alumni and, despite the current turmoil, I remain optimistic. This current economic phase will be temporary and more prosperous times undoubtedly await us. As I mentioned in my October message, you have entered this period with many advantages. The Northwestern Law reputation is strong, and our distinctive strategy — from the way we selected you to the design of our programs — has been developed with a focus on your careers and your employers. Regardless of your present situation, I am confident that much success lies ahead as you continue to plan your multi-job career.