How much funding does Flywheel Fund for Career Choice Fellowship Program provide?

Flywheel Fund for Career Choice Fellowship Program provides Up to $170,000 in funding.

When is the deadline for Flywheel Fund for Career Choice Fellowship Program?

This grant has a rolling deadline or the deadline has not been announced.

Flywheel Fund for Career Choice Fellowship Program

FLYWHEEL FUND FOR CAREER CHOICE

Foundation Annual Grants for Education Workforce Development Grants

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Funding Amount

Up to $170,000

Deadline

Rolling / Open

Grant Type

foundation

Overview

Flywheel Fund for Career Choice Fellowship Program

Status: Pilot program currently active; Class of 2028 applications now open as of the website date.

Geographic Scope: Currently limited to Stanford Law School (classes of 2026, 2027, and 2028). Open to students in eligible states only. The fund seeks to expand to other law schools in the future.

Mission & Focus:
The Flywheel Fund for Career Choice is an innovative nonprofit designed to expand career options for law school students by easing the burden of loan repayment. The program empowers students to pursue public service, public interest, or other lower-income career paths without being constrained by debt.

Key Statistics:

1 in 3 new lawyers chose a different career path than expected due to loans

37% chose jobs that pay more "instead of a job I really wanted"

Award Details:

Funding Amount: Up to $170,000 per Fellow to cover tuition and expenses over 3 years

Allocation: Up to $20,000 per term; lifetime maximum of $170,000

Repayment Structure: Income Share Loan (FISL) through partner Clasp/FinWise Bank

- Fixed 10% of monthly gross income for 144 months (12 years) after employment begins
- 6-month grace period after graduation
- Payments capped at cost of federal GradPLUS loan
- Maximum payment period: 216 months total

Income-Based Repayment Benefits:

Earnings <$100,000/year: Stanford Law School (through LRAP) covers ALL payments (100% subsidized)

Earnings $100,000-$115,000/year: Stanford Law School subsidizes a portion of payments

Earnings >$260,000/year: Payment cap applies—no payments on income above this threshold

Total Payment Cap: Lesser of what would be paid under GradPLUS loan or $312,000

If unemployed: No payments required; must notify servicer

Eligibility Requirements:

First or second-year JD student at Stanford Law School

U.S. Citizen or Permanent Resident

18+ years old at contract execution

Earned Family Income <$750,000

Resident of an eligible state/US territory

Must submit FAFSA for current school year

Must pass credit check

What the Fund Covers:

JD tuition and certified fees

Eligible education-related expenses

What the Fund Does NOT Cover:
Not explicitly stated in provided materials.

How it Works:
1. Fellows receive upfront financing of up to $170,000
2. Repayment is tied to personal income (not family income), beginning 6 months after graduation
3. Payments are income-contingent and affordable
4. Fellow repayments are recycled to fund future cohorts
5. Model aims for sustainability by Year 13 with no additional donor contributions needed

Special Provisions:

Early Repayment: Possible but requires payment of "Early Termination Amount" defined in contract

Forbearance: Up to 6 months total (max 3 continuous months) for emergency financial needs

Deferment: Available for unemployment (with documentation) or additional education (if no earned income)

Income Treatment: Personal income only; includes wages, self-employment income, non-cash compensation, equity/deferred compensation, and income from entity participation

Bankruptcy: Non-dischargeable status only applies to payments due at bankruptcy filing; future payments are dischargeable

Family Status Changes: No impact on repayment calculations (income-only based)

Uneven Income: Monthly calculations; fellows should report significant income changes

Partner Organizations:

Stanford Law School: Provides LRAP subsidies, contributes to fund sustainability, expanded LRAP program for Fellows

Clasp Group Inc. / FinWise Bank: FISL loan issuer and credit approver

Stride Funding, Inc.: Program administrator and manager

Contact Information:

Email: info@flywheelfund.org

FISL Application/Servicing: Clasp at (214) 775-9960 or support@clasp.com

Payment Servicing: stridefunding.launchservicing.com or 1-833-514-1834

Research Advisor: Ralph Richard Banks (Stanford Center for Racial Justice)

Important Disclaimers:

Stanford does not endorse the Flywheel Income Share Loan

The Flywheel Fund is NOT affiliated with Stanford University or Stanford Law School

Selection as a Fellow is NOT guaranteed and is NOT determined by Clasp or FinWise Bank

All loans subject to individual approval and underwriting guidelines

Program restrictions, other terms, and conditions apply

How to Apply

Application Process

The application process consists of three main steps and takes approximately two weeks from start to finish:

#### Step 1: Interest Form (5 minutes)
1. Complete the online interest form to request additional information and application materials
2. Required information:
- First and last name
- Stanford email address
- Year in school (1L or 2L)
3. Submit the interest form
4. Information will be verified
5. Application directions will be sent via email

#### Step 2: Formal Application Submission
1. Complete and submit formal application materials (details of required documents not specified in provided materials)
2. Selection criteria applied by Flywheel Fund leadership based on:
- Alignment with stated mission-driven goals
- Research goals detailed at flywheelfund.org
3. Applicants selected as finalists will advance to Step 3

#### Step 3: Funding Application & Credit Check
1. Finalists complete formal FISL (Flywheel Income Share Loan) credit application
2. Credit check conducted
3. Final approval based on credit criteria of the program
4. Selection as a Fellow is NOT guaranteed

Required Documentation

Specific application materials and documentation requirements are not detailed in the provided website content. Applicants should contact Flywheel directly for complete requirements.

Submission Method

Online interest form available at flywheelfund.org/students/
Complete formal application materials (method not specified)
FISL application submitted to Clasp/FinWise Bank

Timeline

Total process: No more than two weeks from start to finish
Interest form submission → verification → application directions → formal application → finalist selection → credit application → approval