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IV. FINANCING YOUR LEGAL EDUCATION
- Financial Assistance
- Federal Financial Aid
The federal government offers financial aid to graduate/professional students through the Federal Stafford Loans, the Graduate PLUS loan and Federal Work-Study. There are no federal grants available for law students. Student must file the Free Application for Federal Student Aid (www.fafsa.ed.gov) each year after January 1st using the prior year federal tax return information in order for schools to determine the eligibility for federal aid. Students must be enrolled at least half-time (six credit hours) per semester to qualify for federal financial aid. Students are expected to complete and submit all financial aid forms by mid-March in order to be considered for full funding for the next academic year.
- Federal Family Education Loan Program (FFELP) - Stafford Loans
Saint Louis University participates in the Federal Family Education Loan Program (FFELP). Under FFELP, loan funds are provided by a private lender (a bank, credit union or other lender who participates in the program). FFELP Stafford Loans are either subsidized or unsubsidized. It is possible to receive a subsidized and an unsubsidized loan during the same enrollment period. The Stafford loan program offers Subsidized and Unsubsidized types of loan. Stafford loans disbursed after July 1, 2006 will have a fixed interest rate of 6.8%.
The Subsidized Stafford loan is awarded based on financial need determined by the FAFSA and the interest on the loan is subsidized by the federal government while the student is enrolled at least half-time, in a grace period or deferment status. The maximum Subsidized Stafford loan award for a graduate/professional student is $8,500 per academic year.
The Unsubsidized Stafford loan is not based on need and interest begins to accrue on the loan once the funds are disbursed. The maximum Unsubsidized Stafford loan award for a graduate/professional student is $20,500 (minus any subsidized loan amount) per academic year.
Repayment on both the Subsidized & Unsubsidized Stafford begins 6-months after a student graduates, withdraws or drops less than half-time. Standard repayment is 10 years; however, multiple repayment options are available to borrowers.
- Graduate PLUS Loan
Beginning July 1, 2006, graduate/professional students are able to borrow from the federal PLUS loan program. The federal PLUS loan program has expanded to allow graduate/professional students to borrow additional federal loan funds under their own signature and is called GRAD PLUS loan.
A student must complete the Free Application for Federal Student Aid ( FAFSA )for the intended academic year as part of the eligibility process for the GRAD PLUS loan. Students must also apply for their annual loan maximum eligibility under the Federal Subsidized & Unsubsidized Stafford loan program before applying for the GRAD PLUS loan.
A student enrolled at least half-time may borrow up to the cost of attendance minus other aid. The GRAD PLUS loan is unsubsidized with a fixed interest rate of 8.5% and a 3% origination fee, as set by the Department of Education. Interest begins to accrue from the date of disbursement.
A credit check will be performed by the lender at the time of application to determine eligibility for the GRAD PLUS Loan. The borrower must not have adverse credit history as indicated through the credit check.
Repayment begins within 60 days of final disbursement of the GRAD PLUS loan. However, the borrower may receive deferment while s/he is enrolled at least half-time at an eligible school. Upon dropping to less than half-time, the borrower is not entitled to a grace period. Various deferment and forbearance options are available if the student has difficulty repaying the loan but interest will continue to accrue. Standard repayment period is 10 years with flexible repayment options, such as the Standard, Extended or Graduated repayment plan. The GRAD PLUS loan qualifies for the Federal Consolidation Loan as well.
- Federal Work Study
The federal work-study program allots a certain amount of funds to eligible students who will work up to fifteen hours per week in jobs within the School of Law or University, or in very limited instances, at an approved off-campus non-profit organization.
Federal work-study placement is not automatically awarded to law students. Although a student may be work-study eligible, she/he is not guaranteed a job or work-study funds. Federal work study placement is awarded on a first-come first-serve basis to students who apply for an eligible part time job as long as there are available funds. Students who apply for and receive federal work-study funds as part of their financial aid package should inquire about available part-time jobs in the School of Law (e.g. Law Library, Office of Career Services, etc.) Generally, students are paid the minimum federal hourly wage for these positions and work 10-15 hours per week.
NOTE: First year full-time students are strongly discouraged from working during their first year. Students who wish to work during their first year of law school must get permission from the Interim Associate Dean of Students.
- Policies & Procedures
Current federal law requires each eligible institution participating in Title IV federal financial aid programs to publish student financial assistance information. Law students must adhere to the same policies and practices established by Saint Louis University as any other student, including financial aid policies if they are receiving Title IV federal financial aid. Each student is responsible for knowing and understanding the University policies, in additional to the policies established by the School of Law.
Federal and state regulations require that educational institutions measure students’ progress toward a desired educational objective, both quantitatively and qualitatively. In accordance with these requirements, Saint Louis University has established the following standards to measure a student's Academic Progress. These standards will be applied uniformly to all students when determining their eligibility for federal/state and University administered aid or other funds regardless of whether the student previously received these funds.
- Maximum Attempted Credit Hours Time Frame
The maximum attempted credit hours a School of Law student may enroll in to complete the J.D. program of study may not exceed 136.5 attempted hours for the completion of a 91 credit hour J.D. degree program . For students who transfer into the University, the 136.5 attempted credit hours' maximum includes attempted credit hours at other colleges/universities attended, if transfer credit hours were accepted by the University.
NOTE: The maximum attempted credit hours for program completion are 150% of the required credit hours for the program.
- Qualitative Requirement: Cumulative University Grade Point Average (G.P.A.)
Students must maintain a University cumulative G.P.A. of 2.00 in order to demonstrate satisfactory academic progress. The University cumulative 2.00 G.P.A. requirement applies to all federal/state student aid programs and for certain University Scholarship programs as detailed per each Scholarship/Award program. Certain University scholarship/award programs require a higher minimum University cumulative G.P.A. requirement that must be maintained in order to maintain renewal eligibility in addition to other program requirements. See each scholarship/award program description for the minimum renewal University cumulative G.P.A. requirement, other requirements and maximum duration of award eligibility.
- Quantitative Measurement Requirement
To maintain satisfactory academic progress, a student must complete/earn at least 75% of the credit hours attempted each enrollment period. Earned credit hours include all credit hours for which the student received grades of A+, A, A-, B+, B, B-, C+, C, C-, D, S, P. Credit hours not accepted as earned include credit hours taken for audit, credit hours for which no grade was received and credit hours for which the student received grades of W (withdrawal), U (unsatisfactory), I (incomplete), F (failing), AF (absence failure), NP (not passed) or X (failure to take exam).
- Monitoring Satisfactory Academic Progress Requirements
To maintain satisfactory academic progress, a student must complete/earn at least 75% of the credit hours attempted each enrollment period. Earned credit hours include all credit hours for which the student received grades of A+, A, A-, B+, B, B-, C+, C, C-, D, S, P. Credit hours not accepted as earned include credit hours taken for audit, credit hours for which no grade was received and credit hours for which the student received grades of W (withdrawal), U (unsatisfactory), I (incomplete), F (failing), AF (absence failure), NP (not passed) or X (failure to take exam).
- Appeal Procedures for Students Terminated from Title IV, State and/or University Scholarship/Award Eligibility
A student terminated from receiving federal Title IV/state and/or University Scholarship/Award programs due to failure to meet satisfactory academic progress requirements may appeal this termination. Students should contact the School of Law’s Financial Aid Coordinator for all required procedures and forms to petition for reinstatement.
- Alternative Loans
These loans are available to law students who are, or will be, enrolled at an ABA accredited law school. Students must hold at least half time status and have a good credit history or a credit worthy co-signer. Alternative or private loans are based on credit history and only the lender has discretion on approval of loan. Most alternative loan programs have similar requirements and limits, differing mainly in guarantee and other fees and repayment options. Students can take out alternative loans to help with any remaining cost of tuition and fees and also for living expenses associated with attending school. There are also alternative loans available for students preparing for the bar exam.
- Emergency Loans
The School of Law has limited funds available to law students in need of short term, emergency money. Depending on the availability of funds, students may be able to borrow $500-$1000 for a period of three months or longer.
Students may have a maximum of one outstanding loan at any given time. Students wishing to apply for emergency funds should understand that these funds were provided through the generosity of the donor for the specific purpose of meeting emergency needs of students. Therefore, it is imperative that all borrowers abide by the repayment obligations to ensure continued availability to other needy students. In addition, amounts owed are considered debts to the University. Failure to repay may result in the University’s refusal to release official transcripts or the imposition of other penalties.
- Law School Scholarships
Saint Louis University School of Law awards merit-based scholarships to a select group of highly-qualified, admitted students. Each complete application received by the School of Law prior to February 12th automatically receives full consideration for scholarship by the Admissions Committee. For those who qualify, scholarship notification is included in the acceptance letter. Scholarships are awarded for 3 or 4 years based on the student’s program of study (Full-time, Part time, Accelerated Part time). Returning students may also be eligible for scholarships depending on their class rank. For more information on Law School Scholarships, see below.
1843 Scholars
The School of Law at Saint Louis University was founded in 1843 when there were less than 20 law schools in the nation. To commemorate the significance of that year, the School of Law established the 1843 Scholars Program. This scholarship rewards a small group of students for their outstanding academic achievements. Ten full-tuition 1843 scholarships are awarded to incoming students each year. This 1843 scholarship covers tuition for three years of full time study and includes annual increases in tuition.
Dean’s Honor Scholarship
Students ranked in the top 10% after completing their first year of law school and who were not awarded a merit-based scholarship upon their admittance to the School of Law will be awarded the Dean’s Honor Scholarship to recognize their academic success. Awards will be determined after rankings are released in June with letters sent out to recipients during July/August. Students enrolled in 12 or more hours will receive the scholarship for four semesters (2 years) and students enrolled 11 or fewer hours will receive the scholarship for six semesters (3 years). The Scholarship is only applicable to the fall/spring semesters while the student is enrolled in the J.D. Program. Scholarship amounts will vary from year to year and will be awarded based on the enrollment status as of June 1st. The Dean’s Honor Scholarship will be renewed each year as long as the student remains in good academic standing.
External Scholarships
Many local, national and international organizations offer financial assistance to students. Organizations often offer opportunities such as scholarships, grants, internships, fellowships, competitions and loans. Saint Louis University does not control these funds. Although regularly updated, these listings may change requirements and deadlines. All questions regarding external scholarships should be directed toward the contact listed next to the financial assistance opportunity.
International Scholarships
International assistance includes scholarships, fellowships and other sources of financial aid for international students who study at Saint Louis University School of Law. Some of the assistance also applies to U.S. students wishing to study abroad. Please refer to the International Loan web page for additional information.
Scholarship and Financial Aid Web Sites
These web sites provide a variety of sources that offer scholarship and financial information. The School of Law does not endorse any particular site and encourages students to begin researching at least a year before they expect to attend law school.
- Faculty Fellows
Students who have completed all first year required courses and are in good academic standing are eligible to apply as law faculty fellows each year. Fellows are selected by a faculty member designated by the Dean. Selection is based on academic performance, research and writing ability, previous related experience and interest in specific areas of law. Fellows are assigned to work with one or two faculty members on research projects. Appointments are for an entire academic year. Summer appointments are also available. Fellows are paid an hourly stipend and need not be work-study qualified.
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