Loan Programs

Financial aid awards are made through the Office of Student Financial Services of Lewis & Clark College. Students interested in applying for loans must complete the Free Application for Federal Student Aid (FAFSA).

To ensure full consideration, candidates must submit applications to reach the federal processor by the priority deadline of March 1. All students wishing to be considered for financial aid should complete the application whether or not they have been accepted to the law school. Private loan sources require a separate application, which should be submitted at least two months before classes begin.

Please note that international students are not eligible for loans from federalstudent loans. Only U.S. citizens and permanent residents may apply.

FAFSA Code:003197

Federal Perkins Loans
Loans of up to $4,000 per year based on demonstrated need. Repayment period is 10 years, beginning nine months after graduation. Interest is paid by the government until student repayment begins. Federal Perkins Loans carry a fixed interest rate of 5% for the life of the loan.

Federal Stafford Loans
Federal Stafford Loans are part of the Federal Family Educational Loan Program (FFELP) and are available to students regardless of demonstrated financial need. Federal Stafford loans carry a fixed interest rate of 6.8% for the life of the loan.

Subsidized loans, awarded to students who demonstrate financial need, do not accrue interest during periods of at least half-time enrollment. Unsubsidized loans accrue interest beginning at the time the loan is disbursed. Interest may be paid during periods of enrollment or may be capitalized and added to the principal amount of the loan when the loan enters repayment. Repayment begins six months after a student graduates or otherwise drops below half-time enrollment and continues for 10 years. Extended repayment options are available.

Law students may borrow up to $20,500 per academic year. A maximum of $8,500 of the total annual loan may be in the form of a subsidized loan.

Private Education Loans
Private loans up to the cost of attendance, minus other financial aid per year. Repayment begins six to nine months after the student graduates or enrolls less than half time. Interest, fees, and terms will vary from lender to lender. Lenders will base their loan approval decision on the student's credit history.

Graduate PLUS Loan
As of July 1, 2006, law and graduate students have access to another federal student loan for costs not covered by the annual Stafford Loan eligibility. Graduate and law students can now apply to borrow the Federal PLUS Loan on their own credit. The interest rate for all Graduate PLUS Loans will be a fixed interest rate of 8.5% and the borrower is responsible for all interest that accrues on the loan.

Alaska Resident Student Loans
For Alaska residents only. Through the Alaska Commission on Postsecondary Education (ACPE), AlaskAdvantage provides cost reductions available only when borrowing from AlaskAdvantage Loan Programs (Stafford, PLUS, Alaska Supplemental Education Loan, Alaska Consolidation, and Special Program Loans). For applicants who may qualify to borrow student loans through the Alaska program please refer to the website for information on special repayment benefits at www.alaskaadvantage.state.ak.us.


Emergency Loan Funds
Funds for short-term, emergency loans are available through the following named law school loan funds: