U.S. citizens and eligible noncitizens admitted to and enrolled at least half-time (3 semester credits) in a juris doctor program are eligible for Federal Stafford Loans that can pay for the entire tuition amount, plus provide additional funds to assist with living expenses and other education-related costs.
To apply for student loans, you must be admitted to Concordia University School of Law and complete the Free Application for Federal Student Aid (FAFSA). Scholarships will rarely cover all of your financial costs (tuition, fees, living expenses, etc.), so it is important to prepare yourself to take out loans that are available through the federal government and/or private lenders. The FAFSA is available for completion after January 1 of the year in which you will enroll. Some federal loans are awarded based on your credit history. We encourage you to request and review your credit report in advance of applying for supplemental loans to ensure your report is current and accurate.
Concordia University FAFSA Code: 003191
Unsubsidized Stafford Loans are awarded to assist with educational expenses, but are not limited to demonstrated financial need. The interest is not paid by the federal government and is the responsibility of the student. There is an origination fee of 1.068% taken from the loan prior to disbursement, on or after October 1, 2015. The current interest rate is 5.31%.
Payment is deferred on the Unsubsidized Stafford Loan while the student is enrolled at least half-time. Other provisions include annual loan limit, aggregate loan limit, interest rate and fees, disbursements, and repayment.
Graduate PLUS Loan
A credit-based loan that graduate students can apply for. The maximum eligibility is the cost of attendance less other financial aid. Origination fee for this is 4.272% and is taken from the loan prior to disbursement on or after October 1, 2015. The interest rate is 6.31%.
Graduate Annual Limits
Stafford Loan: $20,500
Graduate PLUS Loan: Cost of attendance less other financial aid