The majority of students finance their legal educations through a combination of federal and private loans. For students who qualify for federal aid, private loans can be used in addition to the Stafford loans and as an alternative to the Graduate PLUS loan in financing your education. Private loans are also a great resource for international students and non-eligible permanent residents.
To initiate the private loan application process, you can either apply by telephone, mail, or online (check with the lender). We recommend students use the online application process, if available. Many lenders will render a decision on your application within 24 hours. Please review the terms and conditions to determine which lender best suits your needs. Additionally, students should carefully read all application and promissory note materials. Remember that the promissory note is your contract with the lender. You should file your loan materials with your permanent financial records.
It is essential that you maintain your credit rating throughout your Law School career. If you are late in paying your credit cards, rent, phone bills or medical bills, you may be disqualified from receiving private loans. Private lenders require that you undergo a credit check prior to loan approval. If your bad credit prevents you from borrowing private loans, you may have difficulty financing your law school education. The Law School does not have the resources to lend money to students with poor credit histories who are unable to borrow private loans.
To assist you in selecting a private lender, the University has compiled information on various lenders who offer private educational loans. We recommend you visit the University financial aid website section on private educational loans for more information. If you have specific questions about the terms and conditions of any loan program, you should contact the lender directly.