Forms of Aid
Need-Based 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 online 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. Financial aid notices typically are sent out beginning mid-February.
Merit-Based Law School Scholarships
The Admissions Office considers all applicants for merit-based aid, with no separate application required. Typically, merit dicisions are made within two weeks of admission, and awards range from $5,000 up to full tuition. In cases where no mert aid has been offered, the Financial Aid Office is occasionally able to take financial aid offers from competing schools into account.
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.
Grad Plus Loans
Grad PLUS Loans are funded by the federal government. Michigan receives these funds through the Direct 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
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-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.
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 for more details.