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Forms of Aid
Law School Grants
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 Unsubsidized Loans
Stafford Unsubsidized Loans are funded by the federal government through the Department of Education and have an interest rate of 6.8 percent fixed. Unsubsidized loans may be as great as $20,500 per year and are available to students regardless of financial need.
Grad Plus Loans
Grad PLUS Loans are funded by the federal government and have an interest rate of 7.9 percent fixed. Students may request to borrow up to the cost of attendance minus all other aid received for the academic year. Grad PLUS loans offer a fixed interest rate, flexible repayment terms, and have less stringent credit criteria than private loans. Further details and application instructions are available on our loan comparison chart/FAQ [PDF].
Private Loans
Private loans are available to law students from a variety of lenders. The loans are offered at variable interest rates (with no cap on the interest rate) that are determined by your credit history and that of your co-signer. Most private lenders strongly encourage a co-signer. The loan comparison chart/FAQ [PDF] provides a comparison of different types of loans.
Computer Loans
Students are allowed one increase in their student budget to accommodate the purchase of a computer and printer during their three years at the law school. A detailed computer loan FAQ is available for further information.
University Emergency Loan (EULoan)
The University of Michigan offers short term loan assistance to help students with unexpected expenses and emergencies. During the academic year, currently enrolled students with no past due balance on their student account are eligible to request one EULoan for up to $1,000 every 90 days (higher requests must first receive approval from the Law School Financial Aid Office). The loan is interest-free as long as it is repaid within 90 days. Current students can apply for an EULoan on Wolverine Access under Campus Finances > EULoan. The process can take up to two business days, but in the event of an emergency it is possible that funds can be made available sooner with assistance from the Law School Financial Aid Office.
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. Students can apply for Work-Study through the Law School Financial Aid Office. Employment opportunities are available on the UM Student Employment website.
Student Funded Fellowships (SFF)
Student Funded Fellowships (SFF) provide funds for some first-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. In addition, the Dean guarantees a fellowship for second-year students who pursue public interest jobs over the summer.
Michigan Law's Loan Repayment Assistance Programs (LRAP)
The Debt Management Programs at the Law School provide graduates with maximum flexibility to choose jobs from any law-related area (excluding judicial clerkships and UM funded fellowships) 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. Special note for those pursuing Presidential Management Fellowship (PMF) positions: On rare occasions, the job you receive may not be law-related and therefore make you ineligible for the Law School's loan repayment assistance programs. The Office of Career Planning will work with you as much as possible to avoid this, but if you are in doubt about it, please be in consultation with the Financial Aid Office to discuss your eligibility. For further information select the correct program below for your entering class.
Entering classes 1984–2010 (you may elect one of the two programs below)
Entering classes 2011–later
Many other sources of institutional funding for both summer and post-graduate opportunities are available to our students; details are available on our website.
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