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Federal Educational Loans (William D. Ford Federal Direct Loan Program)

The U.S. Government is the exclusive lender of record, for all federally funded student loans. Direct loans are low cost educational loans made available to eligible students directly from the Department of Education. The Federal Direct Stafford Loan and the Federal Direct Grad PLUS Loan offer a number of repayment options, plus opportunities for deferment, forbearance, loan forgiveness, and cancellation (for death or total and permanent disability). Upon repayment, the loans can be consolidated with prior and future federal loans and neither loan charges a penalty for early payment. For further information on loan repayment options and loan repayment calculators go to: https://studentaid.gov.

There are two types of Direct Loans: Unsubsidized Stafford and Grad Plus. Through the Direct Unsubsidized Stafford Loan, eligible law students may borrow up to $20,500 per academic year and up to $138,500 for all post-secondary education. The maximum annual Grad Plus Loan is the educational cost of attendance, as determined by the school, minus any other financial aid received. Grad Plus Loans have no aggregate limit. Both loans carry an origination fee which is deducted upfront from the loan proceeds.

The Unsubsidized Stafford Loan is not need-based. The Graduate Plus Loan is a credit-based loan available to law students who have an absence of adverse credit. The Financial Aid Office does not have control over credit decisions determined by the Department of Education. In order to qualify, you must not have any of the following items on your credit report:

  • Bankruptcy discharge within the last five years.
  • Voluntary surrender of personal property to avoid repossession of collateral within the last five years.
  • Repossession of collateral within the last five years.
  • Foreclosure proceedings started.
  • Foreclosure within the last five years.
  • Conveying your real property that is subject to a mortgage (by deed) to your lender to avoid foreclosure (deed in lieu of foreclosure).
  • Accounts currently 90 days or more delinquent.
  • Unpaid collection accounts.
  • Charge-offs/write-offs of federal student loans.
  • Wage garnishment within the last five years.
  • Defaulting on a loan, even if the claim has been paid.
  • Lease or contract terminated by default.
  • County/state/federal tax lien within the past five years.

Credit approval is valid for 180 days. Your credit is evaluated each time you request a new loan unless you have had a credit decision within the preceding 180 days. Options if you are denied credit:

      1. 1. Apply with an endorser who is credit-worthy.
      2. 2. Reapply after you correct any invalid information on your credit report.
      3. 3. Appeal, based on extenuating circumstances, with the Department of Education. Contact Applicant Services at 1-800-557-7394.

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