Eligibility for Financial Aid
Law students interested in applying for financial aid should meet the following criteria:
How To Apply For Financial Aid
The Office of Student Financial Assistance is here to help you invest in your future. It's a good idea to apply for financial aid at the same time that you apply for admission to TMSL. Although we won't review your financial aid information until after your admissions application is filed, been accepted in to the TMSL law program and seat deposit paid in full, you can still apply for financial aid before you have been admitted to TMSL.
To apply for federal aid you must:
Direct Unsubsidized Loan Program
The Direct Unsubsidized Loan is not based on financial need. Interest will accrue from the time the loan is disbursed until it is paid in full. Interest accumulated while in school or during other periods of nonpayment is capitalized (added to the principal amount of the loan), unless a student opts to make interest payments while in school. Students may borrow up to $20,500 less any amount borrowed through the Direct Subsidized Loan Program during an academic year (up to an aggregate of $138,500 combined Direct Subsidized and Unsubsidized Loans). The interest rate is fixed at 5.28 %.
Direct Graduate PLUS Loan
The Direct Graduate PLUS loan allows you, not your parents, to borrow up to the cost of attendance less any other financial aid you receive. It has a fixed interest rate (6.28%) and no aggregate limits; has the same deferment, forbearance, and death and disability provisions as Direct Subsidized and Unsubsidized Loans. The Graduate PLUS loan is also eligible for federal consolidation. Credit checks are required to be eligible for this loan, but the credit criteria are less stringent than with most private student loans.
Bar Study Loans- are private student loans specifically intended for law school graduates who are preparing for the bar exam. These are offered only by private lenders—the Department of Education doesn’t provide any federal student loans for graduates who need time to study for the bar.
Bar Study Loan Options
Ready to apply for a bar exam loan? If you’re in need but don’t know where to start, there are a few companies you can look into that are reputable.
Discover bar study loan Bar Exam Prep Loans for Law Students | Discover Student Loans
With this loan, you can take out between $1,000 and $16,000 in bar loan funds. The repayment terms state that the loan must be paid off within 20 years. In order to be eligible for this loan, you must be enrolled half-time at an eligible school.
Sallie Mae bar study loan Bar Study Loans | Sallie Mae
With this loan, you can take out between $1,000 and $15,000 in bar loan funds. The repayment terms state that the loan must be paid off within 15 years. In order to be eligible for this loan, you must be a US citizen and attend an eligible law school.
PNC bar study loan Bar Study Loan: Bar Exam Loans for Law Students (pnc.com)
With this loan, you can take out between $1,000 and $15,000 in bar loan funds. The repayment terms state that the loan must be paid off within 15 years. To be eligible for this loan, you must have graduated from a law school within six months of applying for the loan or expected to graduate within six months.
Credit Reporting Agencies:
Trans Union Credit Corp.
The new look for Federal Student Aid (FSA) – StudentAid.gov, the official federal student aid website. This website combines content and features from StudentLoans.gov, FAFSA.gov, fsaid.ed.gov, and nslds.ed.gov to enhance your experience.
FAFSA, FSAID, Federal Direct Loans, Online Entrance & Exit Counseling
FinAid may be the most comprehensive annotated collection of information about student financial aid on the Web.
General information on colleges, and college costs
U.S Department of Education, FSA Ombudsman
Selective Service System
Internal Revenue Services, resource of information regarding obtaining tax transcripts and educational tax benefits.