Forms of Aid
Need-Based Law School Grants
Law School grants are offered by the Financial Aid Office to students who show exceptional financial need. In assessing need, we take into account a variety of historical factors, such as Pell eligibility as an undergraduate, as well as current financial factors, such as income and assets. We do not require applicants to submit any parental financial records. Admitted students complete a very short online questionnaire to determine whether additional forms need to be completed. Financial aid notices typically are emailed beginning early March and provide the applicant a three-year aid package.
Merit-Based Law School Scholarships
All applicants are considered automatically for merit-based aid, with no separate application required. Typically, merit decisions are made within two weeks of admission beginning in January, and awards range from $5,000 up to full tuition. In cases where no merit aid has been offered, the Financial Aid Office is occasionally able to take financial aid offers from competing schools into account.
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.
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-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 income-Based Debt Management Program (LRAP)
The Income-Based Debt Management Program at the Law School provides those from the entering class of 2011 and later 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. Consult the Financial Aid Office or visit the Income-Based Debt Management FAQ for more details.