Cumberland School of Law students interested in loans have several options to consider:

Federal Direct Unsubsidized Loans

Graduate law students can borrow up to a maximum of $20,500 each academic year in a Direct Unsubsidized Loan. This is a low interest loan that will not enter repayment until you graduate or drop below half-time.  In order to receive this loan, students must file the FAFSA.  Not all students will qualify for the maximum amount.

Federal Grad PLUS Loans

These are new credit-based student loans only available to graduate students. The Grad PLUS loans accrue interest and enter into repayment after graduation or less than half-time status. The annual loan limit is equal to the cost of attendance less any other financial assistance the student is receiving. Filing the FAFSA is required for one to be considered for Grad PLUS loans.

Veterans and Military Benefits

For more information about attending law school using veterans’ benefits, please contact David Dockery, VA certifying official, in Samford One Stop.

Private Loans

Private loans are available through a limited number of lenders. These programs are designed to assist students in covering the costs associated with their attendance. Terms on private loans vary from federal loans and the student does not have to file the FAFSA to receive a private loan. Be sure to review the terms and conditions of all loans prior to making application. If you think you will need private loans to help meet your educational expenses, it is wise to request a credit report to evaluate your ability to secure private loan funds. Cosigned loans may be provided as an option for borrowers whose credit does not meet loan requirements.

Dean’s Emergency Loan Fund

The Dean’s Emergency Loan Fund provides emergency funds to enrolled students. Loans may be up to $1,000 but must be repaid in the semester in which the loan is secured. Applications for loans are made through Samford One Stop.

Bar Exam Loans/Bar Study Loans

Some lenders offer private loans to help law students cover the cost of their bar study examination. Please visit the loan comparison site provided by ELM for more information.