Forms of Aid
Scholarships are not conditional at Michigan Law. To retain a scholarship from year to year, a student need merely enroll at the Law School with a full-time course load and remain in good standing.
- Merit-Based Law School Scholarships
All first-year admitted students are considered automatically for merit-based scholarships, with no separate application required. Typically, merit decisions are made within two weeks of admission beginning in mid to late January, and awards range from $5,000 up to full tuition.
- Competing Aid Scholarships
In cases where no merit scholarship has been offered, the Financial Aid Office is occasionally able to take financial award offers from competing schools into account. Copies of award letters from other law schools for the same admission year should be emailed or faxed to the Financial Aid Office.
- 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. First-year admitted students may complete a very short online questionnaire to determine whether additional forms need to be completed. Need-based aid eligibility is assessed beginning in March, and need-based grants are awarded for five semesters of law school.
Teach for America Award
Michigan Law is pleased to offer competitive scholarships to outstanding applicants who have completed the Teach for America program. The scholarship award will be $10,000 per year for all three years of law school. To remain eligible for the Teach for America Award from year to year, students need merely enroll at the Law School with a full-time course load and remain in good academic standing.
City Year National Service Scholarship
Michigan Law is pleased to offer a merit scholarship to all admitted students who have completed the City Year program. City Year National Service Scholars will be awarded $10,000 per year for all three years of law school. To remain eligible for the City Year National Service Scholarship from year to year, students need merely enroll at the Law School with a full-time course load and remain in good academic standing. City Year National Service Scholars who defer their enrollment will receive the award beginning in the year in which they enroll.
- Direct Unsubsidized Loans
Direct Unsubsidized loans are funded by the federal government through the Department of Education. The interest rate for new Direct Unsubsidized loans is determined annually, based on the 10-year Treasury bill plus 3.6 percent. The interest rate for loans with disbursement dates between July 1, 2015 and June 30, 2016 is 5.84 percent fixed for the lifetime of the loan. Interest rates for new loans will change to 5.31 percent on July 1, 2016. Direct Unsubsidized loans may be a 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 through the Department of Education. The interest rate for new Grad PLUS loans is determined annually, based on the 10-year Treasury bill plus 4.6 percent. The interest rate for loans with disbursement dates between July 1, 2015 and June 30, 2016 is 6.84 percent fixed for the lifetime of the loan. Interest rates for new loans will change to 6.31 percent on July 1, 2016. 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 here.
- 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. A comparison of different types of loans is available here.
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.
The Income-Based Debt Management Program (LRAP) 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 U-M 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 at email@example.com or visit the Income-Based Debt Management FAQ for more details.