Types of Available Aid

Loyola offers a variety of financial assistance programs, including scholarships, loans, and work-study. It is important to apply properly and on-time for all forms of financial assistance.  Loan amounts are determined by the Financial Aid Office using the information you provide on the FAFSA form.  

With the idea in mind that law school is an investment, consider carefully how your legal education will be financed and what your needs are while in law school. The Financial Aid Office asks you to consider carefully how your legal education will be financed and what are your needs while in law school. We are happy to discuss these issues with you as you begin to evaluate your options.

 

  • JD Scholarships

    Law School JD Scholarships

    Applicants applying to the JD program are automatically considered for merit-based scholarships by the Office of Admissions during the admissions process. Scholarship awards range from partial tuition to full-tuition scholarships, which include mandatory fees and a stipend for books. Applicants interested in scholarships should submit their admissions application on or before the admissions application priority deadline. Students who have been selected for a scholarship will be notified by the Office of Admissions.

    Scholarship requirements differ by type of award. Students should refer to the Additional Financial Aid & Scholarship Information document that was sent with their scholarship letter for the renewal criteria for their award. If a student does not meet the renewal criteria, the scholarship will not be renewed in any subsequent year even if the GPA requirement is met.

    The scholarships below are Loyola-specific programs.

    Fritz. B. Burns Scholarships

    Generously funded by the Fritz B. Burns Foundation in order to attract students of high achievement and great potential for outstanding leadership positions in the legal community. Scholarships are awarded to the most outstanding entering students for both the Day and Evening Division.  Tuition, all fees, and a stipend for books are included. This scholarship can be renewed.

    The Public Interest Scholars Program (PISP)

    Designed for law students who are committed to practicing in the field of public interest law, the PISP includes specialized externships and paid summer jobs in public interest law.  The scholarship amount varies and is renewable annually. To be considered for this award, applicants must submit an additional one-page addendum with their application materials.  Learn more about the The Public Interest Scholars Program (PISP).

    Dean's Scholarships

    Awarded to several outstanding students upon entrance, the Deans scholarship includes tuition, mandatory fees, and a stipend. This scholarship can be renewed.

    Loyola Scholarships

    Loyola scholarships are awarded on the basis of academic achievement as well as diversity of background and experience.  These are partial scholarships. Some awards may be renewable.

    Law School Graduate and Other Degree Scholarships

    Applicants applying to the LLM for FTA, Tax LLM, MLS, MT and JSD Program are automatically considered for merit-based scholarships by the Office of Admissions during the evaluation process. No separate application is required. Students who have been selected for a scholarship will be notified by the Office of Admissions.

    Graduate Tax Scholars

    Loyola Law School offers up to three full-tuition Graduate Tax Scholarships each year to full-time candidates for the Tax LLM degree. Graduate tax scholarships are awarded on the basis of merit to applicants who present outstanding academic records and show exceptional promise.

    In addition to other required courses, Graduate Tax Scholars are expected to complete the Program’s course in Tax Policy and prepare and present an Honors Tax Research paper with a view to possible submission to the Tannenwald Tax Writing Competition.

    Graduate Tax Scholarships are limited to applicants who have earned a J.D. degree at an ABA-AALS approved law school in the United States and who matriculate as full-time, 24-unit students.

    Law School Outside Scholarship Opportunities

  • Federal Direct Loans

    The major source of funding for Loyola Law School students is federal loans. 

    Federal Direct Unsubsidized Loan

    • Annual maximum up to $20,500.
    • Students accrue interest while in school but are not required to make payments until six month after graduating or dropping below half-time status.
    • Interest rate is fixed at 6.6% for the 2018-2019 academic year and for loans disbursed after July 1, 2018.
    • Interest rate is fixed at 6.0% for the 2017-2018 academic year and for loans disbursed prior to July 1, 2018.
    • Mandatory federal origination fee is 1.066% (deducted from loan proceeds) for loans disbursed on or after October 1, 2017, but before October 1, 2018. Origination fees for loans disbursed after October 1, 2016, but before October 1, 2017 is 1.069%. Origination fees change annually based on the U.S. 10-year Treasury bill.

    Federal Direct Graduate PLUS Loan 

    • Annual maximum is the COA minus any other financial aid received.
    • Interest rate is fixed at 7.6% for the 2018-2019 academic year and for loans disbursed after July 1, 2018.
    • Interest rate is fixed at 7.0% for the 2017-2018 academic year and for loans disbursed prior to July 1, 2018.
    • Mandatory federal origination fee is 4.264% (deducted from loan proceeds) for loans disbursed after October 1, 2017, but before October 1, 2018. Origination fees for loans disbursed after October 1, 2016, but before October 1, 2017 is 4.276%. Origination fees change annually based on the U.S. 10-year Treasury bill.
    • Students accrue interest while in school but are not required to make payments until six months after graduating or dropping below half time status.

    Credit History and Federal Direct PLUS Determination

    • To qualify for a Federal Direct PLUS Loan, you cannot have an adverse credit history.  A credit history is a summary of your financial strength, including your history of paying bills and your ability to repay future loans.  Your credit history may be considered adverse if you are experiencing any of the following credit conditions: 
      • Bankruptcy discharge within the past five years.
      • Voluntary surrender of personal property to avoid repossession within the last five years.
      • Repossession of collateral within the last five years.
      • Foreclosure proceedings started.
      • Foreclosure within the last five years.
      • Conveying your real property that is subject to a mortgage (by deed) to your lender to avoid foreclosure (deed in lieu of foreclosure).
      • Accounts currently 90 days or more delinquent.
      • Unpaid collection accounts.
      • Charge-offs/write-offs of federal student loans.
      • Wage garnishment within the last five years.
      • Defaulting on a loan, even if the claim has been paid.
      • Lease or contract terminated by default.
      • County/state/federal tax lien within the past five years.
    • To review your credit history, we strongly recommend that you obtain credit reports by contacting:

    The Fair Credit Reporting Act (FCRA) requires each of these agencies to provide you, at your request, with a free copy of your credit report once every twelve (12) months. Please visit annualcreditreport.com or Federal Trade Commission - Consumer Information for further guidance.

    Enrollment for Federal Financial Aid

    Below are the minimum number of units that you must be enrolled in to be eligible for Federal loan disbursement.

     Program

    1/2 TIME

    Juris Doctor (Day) 6
    Juris Doctor (Evening) 4
    Law Graduate Level 4
    Master of Law (FTA) 6
    Doctor of Juridical Science 4
    Master of Laws Taxation 4


    Bar Exam Loans

    Bar exam loans are private, credit-based student loans designed to assist students and recent graduates with the costs of preparing for and taking the Bar Exam.  Unlike regular student loans, bar loan disbursements are mailed directly to the borrower. With most lenders, the interest rates on these loans are variable and can range anywhere between 3.25% APR and 14.00% APR. None of these loans are eligible for Income-Based Repayment or Federal Public Service Loan Forgiveness. 

    Eligibility

    • You may apply for a loan if you are enrolled at least half time in your final year of study at an ABA-accredited law school, or have graduated recently from one. (Depending on the lender, this can be anywhere between 30 days, 6 months, or 12 months.)
    • You must be sitting for the bar exam no later than 12 months after graduation.
    • You must be a U.S. citizen or a permanent resident or an international student borrower applying with a creditworthy cosigner who is a U.S. citizen or permanent resident.
    • You must meet current credit and other eligibility criteria. 

    Potential Lenders

    Loyola Law School does not prefer, recommend, promote, endorse, or suggest any of these lenders. The use of a lender from this list is not required and Loyola Law School will process loans from any eligible lender that a student selects for a Bar Exam Loan.

  • Federal Work Study and Institutional Work Awards

    Fedeal Work Study and Institutional Work are only available to Loyola Law School upper-division students. First year law students are eligible for summer employment after the completion of the first year (applicable to both day and evening students).

    Employment through these programs is restricted to on-campus jobs during the academic year.

    To be considered for either work program, students must complete and submit the following applications/documents by the appropriate deadline:

    • Free Application for Federal Student Aid (FAFSA)

    Employment opportunities may involve work as a research assistant to faculty members, assisting in the Law Library, or assisting in one of the Law School's administrative offices.

    A listing of available on campus positions will be included with the work study contract from Loyola Law School. A work study contract does not guarantee a job, because there are a large number of students competing for a limited number of approved positions.

  • Bar Exam Loans

    Bar Exam Loans

    Bar exam loans are private, credit-based student loans designed to assist students and recent graduates with the costs of preparing for and taking the Bar Exam.  Unlike regular student loans, bar loan disbursements are mailed directly to the borrower. With most lenders, the interest rates on these loans are variable and can range anywhere between 3.25% APR and 14.00% APR. None of these loans are eligible for Income-Based Repayment or Federal Public Service Loan Forgiveness. 

    Eligibility

    • You may apply for a loan if you are enrolled at least half time in your final year of study at an ABA-accredited law school, or have graduated recently from one. (Depending on the lender, this can be anywhere between 30 days, 6 months, or 12 months.)
    • You must be sitting for the bar exam no later than 12 months after graduation.
    • You must be a U.S. citizen or a permanent resident or an international student borrower applying with a creditworthy cosigner who is a U.S. citizen or permanent resident.
    • You must meet current credit and other eligibility criteria. 

    Below are the minimum number of units that you must be enrolled in to be eligible for Federal loans.

     

     Program

    1/2 TIME

     Juris Doctor (Day) 6
    Juris Doctor (Evening) 4
     Law Graduate Level 4
     Master of Law (FTA) 6
     Doctor of Juridical Science 4
     Master of Laws Taxation 4

      

    Potential Lenders

    Loyola Law School does not prefer, recommend, promote, endorse, or suggest any of these lenders. The use of a lender from this list is not required and Loyola Law School will process loans from any eligible lender that a student selects for a Bar Exam Loan.

     

  • Outside Scholarships

    In addition to federal resources, many corporations, civic and religious organization and other groups provide scholarship awards to assist students with their cost of education. Please feel free to contact the Financial Aid Office for any additional information on these scholarships.

    For more information on a specific scholarship, refer to the sponsoring organization for contact information.

    American Association for Justice Scholarships

    Mike Edison Scholarship (OPEN- May 1, 2018)

    Richard D. Hailey Scholarship (OPEN- May 1, 2018)

    Leesfield / AAJ Scholarship (OPEN- May 1, 2018) 

    AAJ Trial Advocacy Scholarship (OPEN- May 1, 2018)

    American Indian College Fund (OPEN- May 31, 2018)

    DDR Lawyers Legal Scholarship (OPEN- December 31, 2018)

    Diversity in Law Scholarship (OPEN- April 16, 2018)

    California Bar Association Scholarship (OPENS April 2018)

    Hispanic Scholarship Fund (OPEN- March 30, 2018)

    The Earl Warren Legal Training Program (OPEN- May 1, 2018)

    The Ryan Law Group (OPEN- July 31, 2018)

    Minority Corporate Counsel Association (OPENS May 1, 2018)

    Orange County Women Lawyers Association Stipends (OPEN- April 20, 2018)

    Zavodnick/Zavodnick &Lasky 2017 Bi- Annual College Scholarship (OPEN- June 30, 2018)            

     

    The following links are provided as a courtesy to students. The Financial Aid office does not endorse any of the following pages.

    Additional Financial Aid Resources

    AdmissionsDean         The Scholarship Page         Sallie Mae
    Fastweb        College Board      

     

    External links disclaimer

    Loyola Marymount University web site contains links to other web sites which are independently run sites outside of the lmu.edu domain. Loyola Marymount University is not responsible for the privacy practices, activities, or content of such independent sites. Any links to external Web sites and/or non-Loyola Marymount University information provided on university pages or returned from university Web search engines are provided as a courtesy. They should not be construed as an endorsement by Loyola Marymount University of the content or views of the linked materials. The materials on these independent sites are the opinion of the specified author(s) and are not statements of advice, opinion, support or information of Loyola Marymount University.