Forms of Aid

Law School Grants are offered by the Financial Aid Office to students who show a history of exceptional financial need. Admitted students complete a very short on-line questionnaire to determine whether additional forms need to be completed. Need-based grants do not take parental information into account, and the applicant is notified of their three-year aid package at the time of notification.

Stafford Subsidized and Unsubsidized Loans
Stafford Subsidized and Unsubsidized Loans are funded by the federal government through the Department of Education and have an interest rate of 6.8 percent fixed. Subsidized loans are limited to $8,500 per year and the recipient must demonstrate financial need to qualify. Unsubsidized loans may be as great as $20,500 per year and are available to students regardless of financial need. The total of subsidized and unsubsidized loans cannot exceed $20,500 per year. Since the University of Michigan participates in the Direct Loan Program, we do not process federal loans through private lenders. All federal loans are processed by our office and are serviced by Direct Loans. Further details on these programs are available in the Financial Aid Office.

Grad Plus Loans
Grad PLUS Loans are funded by the federal government. Michigan receives these funds through the Direcet Loan Program, straight from the Department of Education, so we can offer a lower rate, 7.9 percent fixed, than that at many other schools. Students may request to borrow up to the cost of education minus all other aid received for the academic year. Grad PLUS loans offer a fixed interest rate, generous flexibility at repayment, and have less stringent credit criteria than a private loan. Further details and application instructions are available on our loan comparison chart/FAQ [PDF].

Private Loans
Private loans are available to law students from several lenders, including CitiBank and Sallie Mae. The loans are offered at variable interest rates that are determined by your credit history and that of your co-signer, if necessary. The loan comparison chart/FAQ [PDF] provides a sample list of loan providers.

The College Work-Study Employment Program
The College Work-Study Employment Program enables students to earn money through employment within the University. Law students often work in the Law Library or serve as research assistants to law professors. The federal government subsidizes 60 percent of all Work-Study wages.

Student Funded Fellowships (SFF)
Student Funded Fellowships (SFF) provide funds for some first- and second-year students who wish to work at summer public interest and public service jobs for little or no pay. SFF, Law School, and summer Work-Study funds support this program.

The Debt Management/Loan Forgiveness Program
Among the most progressive in the country, it provides graduates with maximum flexibility to choose jobs from any law-related area (excluding judicial clerkships), including modest-paying public interest positions, while still maintaining a reasonable lifestyle and remaining current on outstanding loan obligations. Graduates whose combination of income and debt make them eligible receive assistance in meeting their loan obligations incurred during Law School and annually earn forgiveness of Law School loans. Consult the Financial Aid Office or our website for more details.

Many other sources of institutional funding for both summer and post-graduate opportunities are available to our students; details are available on our website.