Loans Available for Law Students
The Federal Direct Unsubsidized Loan is available to students who have not had their Total Estimated Cost of Attendance met through other financial aid programs. A Free Application for Federal Student Aid (FAFSA) is required to qualify for federal loans.
The annual maximum for the Unsubsidized Ford Federal Direct Loan program is $20,500.
Please go online to https://financialaid.uiowa.edu/types/loans/unsubsidized for further information on the interest rate and loan fees. You may defer payment on the principal and interest, but interest does accrue from the time the loan is disbursed. If you defer interest payments, the interest is capitalized when the grace period ends. For next steps in the financial aid process, check your Financial Aid To Do List in MyUI.
The Grad PLUS Loan is a federal educational credit-based loan that may be available to students who have not had their Total Estimated Cost of Attendance met through other financial aid programs and who do not have an adverse credit history. A credit check will be performed during the application process. A Free Application for Federal Student Aid (FAFSA) is required to qualify for federal loans.
If you have an adverse credit history you may still be eligible to receive a Federal Direct PLUS Loan. Your credit history may be considered adverse if you are experiencing any of the following credit conditions: accounts currently 90 days or more delinquent, unpaid collection accounts, bankruptcy discharge within the past five years, voluntary surrender of personal property to avoid repossession within the last five years, repossession of collateral within the last five years.
Other conditions apply.
A student with an adverse credit history may still receive a Direct PLUS Loan if the student obtains an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the loan if the student does not repay it.
Please go online to https://financialaid.uiowa.edu/types/loans/studentplus for further information on the interest rate and loan fees. You may defer payment on the principal and interest, but interest does accrue from the time the loan is disbursed. If you defer interest payments, the interest is capitalized when the grace period ends. For next steps in the financial aid process, check your Financial Aid To Do List in MyUI.
Private Educational Student Loans are loans available from private lenders for students. Private loans differ from Federal Direct Loans in several important ways:
- Annual and total loan limits are larger
- Interest rates quoted to students are based on credit approval, which is not guaranteed
- Deferment, cancellation and repayment terms are offered at the lender's discretion
It is recommended a student exhaust all federal loan options before going to the private market. The terms and conditions for private loans differ among lenders. Students are advised to carefully compare several lenders and their terms before choosing a lender. This information can typically be found on the lender's website, although students may need to contact the lender for specific information. Interest rates, fees, and other provisions are subject to changes the lender makes. Students can search for Private Education Student Loans online. The link below provides a list of preferred lenders:
Bar Exam Loans are private educational loans. They are available for third-year students only and enable them to borrow funds for the costs associated with taking the bar, bar registration, bar review, and living expenses. These types of loans do not require Private Loan Counseling with the University of Iowa Office of Student Financial Aid unlike Private Student Loans. Certification is done through the College of Law's Financial Aid Office and the funds are disbursed directly to the student.
A credit check is required, and you may need a creditworthy cosigner.
Scholarships and Fellowships
Learn about scholarship and fellowship opportunities that can help fund your education.
Have questions? We are here to help.
Office of Financial Aid
University of Iowa College of Law
280 Boyd Law Building
Iowa City, IA 52242-1113
319-335-9142
law-financialaid@uiowa.edu
Office of Student Financial Aid
University of Iowa
2400 University Capitol Centre
Iowa City, IA 52242-1315
319-335-1450
http://financialaid.uiowa.edu
financial-aid@uiowa.edu