Law students may borrow through the Federal Stafford Loan Program. A portion of the loan amount may be in subsidized loan funds. Subsidized loans are need-based loans. The federal government pays the interest on subsidized loans while the student is in school, during the grace period, and during eligible deferment periods. Unsubsidized loans are not based on need. The student is responsible for paying the interest on these loans. Students may defer the interest payments while they are in school, but interest will continue to accrue throughout the life of the loan, and will be capped and added to principal at the end of the deferment period.
Beginning in 2006-2007, eligible law students may borrow their unmet Cost of Attendance through the Federal Graduate PLUS Loan Program.
To apply for any federal loans, you must complete the Free Application for Federal Student Aid (FAFSA). There are two steps to the FAFSA application process:
- Apply for a federal Personal Identification Number (PIN).
- Once you have received your PIN, you may complete the FAFSA online.
We strongly discourage students from completing the paper FAFSA application, as the processing time is several weeks longer than the online version.
When should you apply? You can apply beginning January 1 of your expected year of enrollment. Even if you have not applied or been accepted to law school, you should still fill out the FAFSA application. For priority consideration, you must apply by March 1. You should complete your federal income tax return for the year prior to your anticipated enrollment before filling out the FAFSA, because you will need information from your tax return to complete the FAFSA form.
