Types of Loans

  • William D. Ford Federal Direct (Stafford) Loan Program Unsubsidized The interest rate is 5.41 percent. Payment on the principal and interest may be deferred, but interest does accrue from the time of disbursement. If payment on the interest is deferred, the interest is capitalized. Students must show eligibility through the FAFSA process. The maximum for the Unsubsidized Ford Federal Direct (Stafford) Loan program is $20,500.
  • Federal Perkins Loan The Federal Perkins Loan is awarded, as funds are available, to a very limited number of students who demonstrate exceptional financial need through the FAFSA process. The interest rate is 5 percent. Interest does not accrue and principal payments are deferred until nine months after you are no longer enrolled at least half-time. Federal Perkins Loan awards range from $1,000 to $4,000.
  • Grad PLUS Loan The Grad PLUS Loan is a federal educational loan that may be available to assist those students who have not had their entire student financial aid budget met through other financial aid programs. In addition, students must not have an adverse credit history (a credit check will be done). The student is considered to have an adverse credit history if the student is 90 or more days delinquent on any debt or if, within 5 years of the date of the credit report, the student have been the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Federal Student Aid debt (for example, a Direct Loan or Federal Stafford Loan). A student with an adverse credit history may still receive a Direct PLUS Loan if the student obtains an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the loan if the student does not repay it. The interest rate is 6.41 percent. Interest does accrue while the student is in school.
  • Bar Exam Loans Private educational loans are available for third-year students only to borrow funds for the costs associated with taking the bar, bar registration, bar review, and living expenses. A credit check is required, and you may need a creditworthy cosigner. Bar Exam lender information is online at

Checklist for Graduating Law Students with Student Loans
This checklist was compiled by Heather Jarvis, senior program manager for Equal Justice Works.  Equal Justice Works provides free, online resources and information about student loans and debt-relief programs, including downloadable checklists, podcasts, and an interactive forum.  For more information, visit

Educational Computer Systems Incorporated (ECSI)
You can manage your loans online. The University of Iowa Billing Office provides access to online loan management of your Perkins Loan or Iowa Law School Foundation Loan with Educational Computer Systems Incorporated (ECSI).

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Loan Forgiveness
For information about loan forgiveness programs, please see the links below.

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Average Debt

For the class of 2012, the average law school student loan debt was $95,574. Most students choose an extended payment plan of 25 years.

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Law studies demand all of a student's time and energy. For this reason, students should not plan to work during the first year of law study. In any event, employment at all times is limited to 20 hours per week. (Standard 304 (f) 2008-09 ABA Standards for approval of Law Schools)

Research Assistant Positions Research Assistant positions are available with many faculty members only for second and third year students. If you are classified as a non-resident for tuition purposes, a quarter-time Research Assistant position (ten hours per week) will change your tuition status during that semester to resident tuition, thus altering your financial aid package.

UI Student Part-Time Employment There are part-time student employment positions throughout the university. You do not need to apply for financial aid to work in these positions. You may access information regarding employment positions through the University of Iowa Student Information Services Jobnet.

UI Federal College Work-Study College Work-Study is available to a limited number of students in their second and/or third year at the college. A Work-Study award enables you to work in a Work-Study position throughout the University. Work-Study may reduce your Federal Direct Loan eligibility. You must demonstrate financial eligibility through the FAFSA process.

Law-Related Employment The College of Law Career Services Office, located in Room 280 Boyd Law Building, provides many opportunities for you to explore legal employment options during and after your legal education.

Community Employment There are many opportunities for non-legal employment in the area.

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Questions and inquiries?

Please include your name, phone number, and social security number with any financial aid correspondence:

Office of Financial Aid
University of Iowa College of Law
276 Boyd Law Building
Iowa City, IA 52242-1113
319-335-9142 / 800-553-IOWA, Ext 9142

Office of Student Financial Aid
University of Iowa
208 Calvin Hall
Iowa City, IA 52242-1315
319-335-1450 / 800-553-IOWA

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