CUA Columbus School of Law

Financial Aid >Types of Aid

University Scholarships | Federal Stafford Loan | Federal Grad PLUS Loan
Private/Commercial Loan | Aid for International Students

- Types of Aid -

I. University Scholarships:

These 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 returning students, merit-based scholarships are awarded to students who rank in the top 25% of their class at the end of the spring semester. Award notifications are made mid June.

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

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II. Federal Stafford Loans: 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 Stafford Loan amount for graduate/professional students is $20,500* per academic year. Up to $8,500 of this amount may be subsidized (ie will not accrue interest while you are in school). Eligibility is determined by the FAFSA.

Key Characteristics of a Federal Stafford Loan:
- fixed interest rate of 6.8%
- 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 or review our Lender List.

_{*The maximum Stafford Loan amount prior to Fall 2007 was $18,500. The maximum subsidized amount}

^{was the same at $8,500, but the maximum unsubsidized amount was increased from $10,000 to $12,000 in subsequent years..}

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III. Federal Graduate PLUS Loans: Graduate and professional degree students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal 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 7.9%
- 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 or review our Lender List.

_{*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.}

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IV. Private/Commercial Loans: These loans are also 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

For more information about the terms and rates, please visit our Commercial Loan information page or review our Lender List and contact the lender directly.

[Back to Top]

- 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 making use of the initernet and conducting your own searches.

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Last Revised 01-Jul-09 11:31 AM.

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	Financial Aid >Types of Aid University Scholarships \| Federal Stafford Loan \| Federal Grad PLUS Loan Private/Commercial Loan \| Aid for International Students - Types of Aid - I. University Scholarships: These 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 returning students, merit-based scholarships are awarded to students who rank in the top 25% of their class at the end of the spring semester. Award notifications are made mid June. For more information about University and Outside Scholarships, please visit our Scholarship Information page. [Back to Top] II. Federal Stafford Loans: 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 Stafford Loan amount for graduate/professional students is $20,500* per academic year. Up to $8,500 of this amount may be subsidized (ie will not accrue interest while you are in school). Eligibility is determined by the FAFSA. Key Characteristics of a Federal Stafford Loan: - fixed interest rate of 6.8% - 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 or review our Lender List. _{The maximum Stafford Loan amount prior to Fall 2007 was $18,500. The maximum subsidized amount}* ^{was the same at $8,500, but the maximum unsubsidized amount was increased from $10,000 to $12,000 in subsequent years..} [Back to Top] III. Federal Graduate PLUS Loans: Graduate and professional degree students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS loans. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal 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 7.9% - 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 or review our Lender List. _{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.} [Back to Top] IV. Private/Commercial Loans: These loans are also 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 For more information about the terms and rates, please visit our Commercial Loan information page or review our Lender List and contact the lender directly. [Back to Top] - 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 making use of the initernet and conducting your own searches. [Back to Top] Last Revised 01-Jul-09 11:31 AM.
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