Apply for a Loan

A chart of the various loan programs for law students has been developed to show the differences in federal loans available to law students.

The summary below is intended for quick reference.  Your individual monthly payment amounts may differ.  Schedule a one-on-one appointment with a Financial Aid advisor for a tailored loan debt projection.

If you borrow the maximum Federal Direct Unsubsidized Loan each year:

• $20,500 * 3 years = $61,500 Grand Total
  • Standard 10 year repayment plan is around $700/month
  • Extended 25 year repayment plan is around $400/month

If you borrow an average of $20,000 in a Federal Direct Graduate PLUS Loan each year:

• $20,000 * 3 years = $60,000 Grand Total
  • Standard 10 year repayment plan is around $725/month
  • Extended 25 year repayment plan is around $450/month

• Grand Total (add both the Unsubsidized & Graduate PLUS = $121,500
  • Standard 10 year repayment plan is around $1425/month
  • Extended 25 year repayment plan is around $850/month

• IBR - Income-Based Repayment is determined by your household size and household income.
  • Examples:  $40,000 income, single person, monthly payment is $291/month (over $1100 per month lower than 10 year plan, over $550 month lower than 25 year plan)
  • $80,000 income, single person, monthly payment is $791/month (over $600 per month lower than 10 year plan, just $60 a month less than 25 year plan)
  • Borrow wisely!  IBR is a long-term commitment and the amount changes annually as household size and/or household income changes