The Catholic University of America

Types of Aid

Financial Aid

 

-UNIVERSITY SCHOLARSHIPS-

University scholarships are merit-based and are awarded to in-coming students by the Admissions Committee. Awards are made based on information provided during the admissions process. No separate application is needed for scholarship consideration. Scholarship recipients receive notification mid to late spring.

For more information about University and Outside Scholarships, please visit our Scholarship Information page.



 -Statement on Education Loan Indebtedness-

The Columbus School of Law recognizes the following:

  1. Students choose to enroll in law school with the expectation that their investment of resources (time and money) will provide them a basis for productive and meaningful employment outcomes.
  2. Student loans are a source of financing law school for many law students.
  3. The decision to borrow funds for law school is an individual choice based on personal circumstances, personal goals, and personal comfort level with debt.

Accordingly, the Financial Aid Office makes the following commitments:

  1. To help students develop realistic personal budgets that include personal expenses as well as projected cost for tuition and fees.
  2. To provide comprehensive information with respect to cost and terms associated with student loan programs.
  3. To provide comprehensive information with respect to repayment obligations and options associated with student loan programs.
  4. To encourage borrowers to pursue information about income expectations and to integrate this information with understandings about loan repayment estimates and repayment options.
  5. to provide timely information relating to scholarships offered both by the Columbus School of Law as well as grants and scholarships available from other agencies and organizations.

Columbus School of Law encourages each borrower to make careful and thoughtful choices with respect to borrowing and to make these choices in the context of personal expectations and goals.


 

-FEDERAL DIRECT LOANS - STAFFORD UNSUBSIDIZED*-

These are made available to Columbus School of Law students through the Federal Direct Loan Program. The program provides federal student loan funds to students who are U.S. citizens (or qualifying non-citizens) and are enrolled at least half-time in a given semester.

The maximum Federal Direct Loan amount for graduate/professional students is $20,500 per academic year. 

Key Characteristics of a Federal Stafford Loan:
- fixed interest rate of 5.41%
- no credit check required (approval is based on the completion of FAFSA)
- deferred payments while in school (must be at least half-time)
- 6 month grace period (deferred payments) after graduation

For more information about the terms and rates, please visit our Stafford Loan information page. Information on the loss of the Stafford Subsidized Loan for Graduate & Professional Students can be found here.

* Due to the Budget Control Act of 2011 graduate and professional students are no longer eligible for Stafford Subsidized Loans beginning July 1, 2012. This law does not affect any Subsidized Loans the student may have from prior years.


 

-FEDERAL DIRECT GRADUATE PLUS LOANS-

Graduate and professional degree students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial aid. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual maximum loan eligibility under the Federal Direct Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.

Key Characteristics of a Federal PLUS Loan:

- fixed interest rate of 6.41%
- approval of loan is pending a Credit Check (criteria is less stringent than Private Commercial Loan)
- deferred payments while in school (must be at least half-time)
- no official grace period (deferred payments) after graduation. Other deferment options are available.

For more information about the terms and rates, please visit our Grad PLUS Loan information page.

*There is a loan fee associated with a Federal Grad PLUS Loan. The net amount disbursed will be less than the amount borrowed. Students are permitted to borrow to cover the cost of these fees. Contact out office for more information.

                                                                                                                                           

-FEDERAL PERKINS LOANS-

Key Characteristics of a Federal Perkins Loan:

-fixed interest rate of 5%
-no credit check required (approval is based on the completion of a FAFSA)
-deferred payments while in school (must be enrolled at least half-time)
-9 month grace period (deferred payments) after graduation
-options for loan forgiveness related to careers in teaching and law enforcement
-may be consolidated with Federal Direct Stafford and Federal Direct PLUS loans for the purpose of Public Service Loan Forgiveness

For more information about the terms and rates, please visit our Perkins Loan information page.

                                                                                                                                        

-VETERAN'S BENEFITS-

The Columbus School of Law is eligible to receive payments from the Post 9/11 GI Bill. Currently the law school does participate in the Yellow Ribbon program. For more information on Veteran's Benefits, please visit our benefits page.

 


 

-PRIVATE/COMMERCIAL LOANS-

Private/Commercial or Alternative loans are available to meet educational costs including living expenses. Eligibility to receive this type of loan is based on your credit score and may require a co-signer. Private/Commercial loans can provide for the remaining amount of educational cost of attendance (tuition, fees, book and personal living expenses) that is not covered by other resources (grants, scholarships, loans, VA benefits, etc.)

Key Characteristics of a Private Commercial Loan
- variable interest rate determined by lender
- approval of loan is pending a Credit Check (criteria is set by lender)
- deferred payments while in school (must be at least half-time)
- grace period, if any, is determined by lender

Additional information and a comparison chart can be found at here.

 


 

-AID FOR INTERNATIONAL STUDENTS-

Federal and State financial aid are not offered to International Students; however, many private organizations offer various scholarships and grants to students regardless of citizenship. To start your search, review our Aid for International Students information page. Please do not limit yourself to the resources listed here. We strongly recommend using the internet to conduct your own search.

           


-Bar Exam Loans-

If you are approaching graduation, you may want to borrow more money than your standard federal loans for expenses incurred to prepare for and take the bar exam. Several lenders offer bar study loans. See our chart summarizing the loans offered by the several lenders.

 

 

 

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