Several major legal education organizations and 10 stand-alone law schools received forgivable emergency loans of $150,000 or more from the Small Business Administration, newly released data show.
Those Paycheck Protection Program loans were among the $350 billion allocated by Congress in March to assist businesses struggling amid the COVID-19 outbreak. The Law School Admission Council received the largest loan among legal education entities, listed between $5 million and $10 million. (The data released by the SBA provides only ranges for loan amounts, and not the precise figure for each recipient.) Council president Kellye Testy said Tuesday that it had received a $5.3 million loan. The council, which creates and administers the Law School Admission Test and maintains a centralized application system for law schools, used the funds to help develop the LSAT-Flex, a shorter, online version of the admissions test that debuted in June after all in-person LSATs were canceled due to COVID-19.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
