Loans

There are several loan programs for law students to assist with financing expenses for law school, including living expenses as needed.   These loan options are listed below.  To ensure the best plan for your situation, research these opportunities for financial assistance, as well as the obligations and responsibilities.  These forms of financial assistance are loans and, therefore, must be repaid.

Email the Financial Aid Coordinator for any questions regarding which program may best suit your long-term plans.

Federal Direct Unsubsidized Loan Program

Direct Unsubsidized loans are available to students who enroll at least part-time at an accredited school. These funds are unsubsidized, which means they accrue interest once funds are disbursed. This loan has a fixed interest rate of 5.84% and a 1.072% origination fee, as set by the Department of Education.  There is an annual borrowing limit of $20,500.

Click here for further information on this loan program and information about the application process.

Federal Direct Graduate PLUS Loans

The Direct PLUS loan program allows law students to borrow additional federal loan funds for expenses not covered by the Direct Unsubsidized Loan. A student enrolled at least part-time may borrow up to the cost of attendance minus other aid. This loan is unsubsidized with a fixed interest rate of 6.84% and a 4.288% origination fee, as set by the Department of Education.

Click here for further information on this loan program and information about the application process.

Private Loans

Law students also have a variety of private loan programs from which to choose.  Private loan programs have similar requirements and limits, differing mainly in guarantees, fees and repayment options. Click here for a side-by-side comparison of federal loans versus private loans.

These loans are available to law students who are or will be enrolled at an ABA accredited law school. Students must have a good credit history or a credit-worthy co-signer. The lender has discretion on approving the loan. However, research is key in determining which loan(s) best fit your criteria.  Private loans cannot be consolidated with federal loans.

Click here for further information about various lenders that other students previously used for these loans and key questions to ask them before applying.

International Loans

For international students planning on studying at Saint Louis University School of Law, financial arrangements must be met before studies can begin. Federal aid is not available to international students on a F1 or F2 student visa, J1 or J2 exchange visitor visa or a G series visa. Contact the appropriate lenders for specific requirements and qualifications. Saint Louis University School of Law does not endorse or recommend any loan over another. Please read and research the various loans carefully to determine which loan best matches your needs.

Click here for further information about various lenders that other students previously used for these loans and key questions to ask them before applying.

 

 

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