Loans

The Student Loan Administration processes and disburses all Law School student loans.  To apply for loans, students must submit the FAFSA and the University of Chicago Graduate Loan and Work Study Application.  The priority deadline for submitting these materials is May 15.  Questions regarding your loan status and paperwork should be directed to SLA.

Federal Direct Stafford Unsubsidized Loan: The Department of Education gives all eligible  graduate students (U.S. Citizens and Permanent Residents) access to $20,500 in unsubsidized loan funds through the Stafford Loan program.  This unsubsidized loan accrues interest at the 6.8% rate. Students must fill out the Free Application for Student Aid (FAFSA) online to receive Stafford Loans. Most students supplement Stafford loans with Perkins or Federal Grad PLUS loans. The Law School's FAFSA code is E00377. 

As of July 1, 2012, the Federal Direct Stafford Subsidized loan will no longer be available.  While students may still borrow $20,500 from the Stafford program, all funds will now be unsubsidized and accrue interest while in school. 

Federal Perkins Loan: The Federal Perkins Loan is a low-interest loan for students enrolled in the Law School who demonstrate financial need. Perkins Loans have no fees and no interest accrues while you are in school. This award is approximately $4,500 per year. 

Federal Direct Grad PLUS and Alternative Loans: Alternative loans and/or Federal Graduate PLUS loans are used to cover the difference between the cost of attendance and other forms of financial aid that you have received. Alternative loans and Federal Direct Grad PLUS loans are credit-based loans and will not be made to students who have poor credit. Students should check their credit ratings at the credit reporting agencies (Experian, Equifax and Trans Union) and correct errors in their credit histories. Students with poor credit or international students may be able to borrow an alternative loan with a credit-worthy cosignor. To simplify the repayment process, we encourage you to continue using the same lender if you have previously borrowed an Alternative or Federal Direct Grad PLUS loan.  For those interested in participating in our loan repayment program, please note that alternative loans are not eligible for LRAP. 

For lender information and other questions regarding the financial aid process, please visit the Student Loan Administration.