The Bulletin - George Washington University Law School

Financial AidThe Law School assists students in obtaining financial aid through institutional grants, federaland commercial loan programs, or a combination of these resources.Juris Doctor ProgramAll admitted J.D. applicants are considered for the limited number of merit-based scholarshipsawarded annually by the Law School; no special application is necessary.J.D. students may apply for the following types of financial aid: Law School need-basedgrants, Federal Direct Unsubsidized Stafford Loans, Federal Direct Graduate PLUSLoans, and private, credit-based educational loans.A student must apply for financial aid by completing the Free Application for FederalStudent Aid (FAFSA) and an internal request form each year for which financial aid isneeded. The financial aid process is academic year-specific and subsequent year eligibilityis not guaranteed. The Committee on Student Financial Aid begins making awards inMarch for incoming J.D. students and in late June for upperclass students. Awards arenot offered to an applicant until the admission process has been completed and the studenthas been accepted. Funds are limited.Law School need-based grants are available to J.D. students who are U.S. citizens, enrolledat least half time, demonstrate significant financial need, and have not been awardeda merit-based scholarship. Financial need is the difference between GW Law’s estimatedcost of attendance for the aid year, a student’s personal and/or family contribution,the $20,500 Federal Direct Stafford Loan, and any other assistance the studentreceives.Through the Federal Direct Stafford Loan program, students may apply for a maximumof $20,500 annually (the aggregate lifetime maximum allowed in combined undergraduateand graduate Stafford Loans is $138,500). The interest rate on the Federal DirectStafford Loan is fixed at 6.8%. Under current federal regulations, all Federal DirectStafford loans will be assessed by a 1% origination fee, subtracted from each disbursement.Repayment begins six months after the borrower ceases to be enrolled or drops belowhalf-time attendance. Payment of the Federal Direct Unsubsidized Stafford Loan may bedeferred during the in-school period and for six months after graduation or cessation ofhalf-time enrollment. Repayment of the Stafford Loan is completed over a ten-year period,unless the borrower chooses to extend payments through a Federal Direct ConsolidationLoan or other payment plan options after graduation.The Federal Direct Graduate PLUS Loan is a credit-based loan that can cover up tothe annual cost of attendance, less other financial aid received. The interest rate is fixedat 7.9%, with no aggregate limit. Under current federal regulations, all Federal DirectGraduate PLUS Loans will be assessed a 4% origination fee, subtracted from each disbursement.Credit approval is based on federally mandated criteria, not a credit score. Inorder to qualify, your credit report must not contain any current delinquency of 90 daysor more, or any of the following within the preceding five years of the date of the creditcheck: default, bankruptcy, discharge, foreclosure, repossession, tax lien, wage garnishment,write-off of a Title IV debt, or open collection. The Federal Direct GraduatePLUS loan has the same repayment, deferment, forbearance, and cancellation provisionsas the Federal Direct Stafford Loan program. The Federal Direct Graduate PLUS Loanmay be consolidated with other federal loans. Repayment on the Federal Direct Gradu-49