Law School Discussion

Only Loans?

frankm007

Only Loans?
« on: May 02, 2006, 08:16:59 PM »
Is it true that in law school we can no longer get those government loans that we didn't have to pay while in undergrad?

Law2k6

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Re: Only Loans?
« Reply #1 on: May 02, 2006, 10:47:08 PM »
What do you mean "that we didn't have to pay?"

Law students are eligible to borrow Stafford loans, which are government backed loans. Stafford loans come in two varieties: unsubsidized and subsidized. The former collects interest right away. The latter only collects interest after graduation. Both loans allow deferred payments until after graduation. The cap for subsidized Stafford loans is $8,500/yr. and unsubsidized is $10,000/yr. Beyond that law students can borrow the new Graduate PLUS loan or private loans for any remaining financial need.