Home >>Law Schools >>LSAT >> Scholarships and Aid >>

Scholarships & Aid

Unsubsidized Federal Stafford Student Loan

Source: Federal, administered by participating lender or directly through financial aid office.

Eligibility: Not need based; selective se rvice registration (males only); not in default on any previous student loan.
 

Maximum Allocation: Up to $18,500/year (reduced by any subsidized Stafford loan awarded). The maximum aggregate total for all loans administered under the Stafford Program is $138,500, no more than $65,500 of which may be in Subsidized Stafford Loans. The maximum aggregate includes any Stafford loans received for undergraduate and/or other graduate study.

Repayment and Deferral Options: Ten years to repay. Interest begins to accrue from day loan is disbursed; you can pay the interest or have it capitalized (added to principal). Begin repayment six months after graduation. Forbearance possible for medical residency training (although interest will accrue).

Interest Rate: Variable, based on 91-day T-Bill plus 2.3% during repayment; capped at 8.25%. During in-school periods, six-month grace periods and deferment periods, rate is 91-day T-bill rate plus 1.7% capped at 8.25%.

Pros: Not need based. Lower interest rate while in school. Same interest rates as Federal Stafford during repayment.

Cons: Interest is not paid by the government while you're in school.