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Financial Aid

Understanding Your Award

for law students

Once we have reviewed the data provided on your FAFSA and any other required documentation, we will prepare your financial aid award. The financial aid award notification gives information about the source and amount of financial aid funds that a student is eligible to receive.

Next Steps

  1. View your award on WebAdvisor
  2. Read the Financial Aid Guide
  3. Secure the Aid You Were Offered

A typical award for law students attending fall and spring semesters might consist of:

  1.  Merit-based scholarship - $8,000
  2.  Federal Direct Stafford Loan (unsub) - $20,500
  3.  Federal Graduate PLUS Loan - $32,000

A typical award for law students attending summer, fall, and spring semesters* might consist of:

  1.  Merit-based scholarship - $8,000
  2.  Federal Stafford Loan (unsub) - $20,500 (summer/fall)
  3.  Federal Stafford Loan (unsub) - $10,250 (spring)
  4.  Federal Graduate PLUS Loan - $18,000 (summer/fall)
  5.  Federal Graduate PLUS Loan - $17,000 (spring)

* Scroll down to the section titled “Borrower-Based Academic Year” for an explanation of this award.

Student Loans

Loans are a type of financial aid that must be repaid. Some loans (i.e., Federal Perkins Loan) are awarded based on your demonstrated need. These loans carry lower interest rates and more favorable terms/conditions. Other loans (i.e., Unsubsidized Federal Stafford Loan and Federal Grad PLUS Loan) may be borrowed regardless of whether or not you demonstrate financial need. However, a current and valid FAFSA must be filed in order to process any type of federal student loan.

Cost of Attendance Budget

Toward the bottom of your award, you will find the Cost of Attendance budget that was used to determine your eligibility for financial aid. This budget includes both direct and indirect costs. Direct costs are items that will be charged to your Lewis & Clark student account, such as tuition and fees. Indirect costs are estimated expenses that you may have, but are not charged to your student account, such as housing, food, books/supplies, personal, and transportation expenses.

Borrower-Based Academic Year

Law students attending summer, fall, and spring semesters are awarded according to a Borrower-Based Academic Year (B-BAY). The advantage to B-BAY awards is that law students are able to maximize their eligibility under the Stafford Loan program. Essentially, summer and fall are considered one academic year and the spring semester is considered another half academic year. However, this does also force Federal Grad PLUS eligibility to be split into two loans. This means that students with B-BAY awards must apply for two separate Grad PLUS Loans - one for the summer and fall semesters, and another for the spring semester. Law students with B-BAY awards should carefully read the information provided with their award notifications.