Federal Loans

 

Law students are eligible to receive a maximum of $20,500.00 per year in Federal Direct student loans. Graduate students are no longer eligilble for subsidized loans, therefore the entire amount is unsubsidized. This means that interest begins when the loan is taken out, but can be deferred until repayment begins.

 

Scholarships and other aid might affect the amount of federal loans a student may receive , and the enrollment period might have an effect on the eligible amount.

 

Disbursement of funds is equally divided based on period of enrollment. Students attending fall and spring semesters will receive half each semester. Students attending summer/fall/spring will receive the loans in thirds. Since summer costs are significantly lower than those of the other terms, MC Law advises you to budget carefully in order to maintain sufficient funds for the remainder of the academic year.

 

Students applying for federal loans must submit the Free Application for Federal Student Aid (FAFSA). For fastest processing, students are strongly encouraged to complete the FAFSA online at www.fafsa.ed.gov. Previous federal aid applicants/recipients can complete a Renewal FAFSA online at the same web site. Your personal identification number (PIN) is required to complete the Renewal FAFSA online. You may request a new PIN or a copy of your existing PIN at www.pin.ed.gov. Paper copies of the FAFSA are also available in the MC Law Financial Aid Office or by calling 1-800-433-3243.

 

Students should request that a copy of their FAFSA financial aid report be released to Mississippi College School of Law, Code E00479. You must include the law school's code on the FAFSA form. Be sure to retain a copy of the report for your records.