Federal Aid

Federal Direct Unsubsidized Stafford Loan

The Unsubsidized Stafford Loan is a non-need based loan available to borrowers who qualify for federal student aid. The maximum amount available to borrowers each academic year is $20,500. There is a lifetime aggregate Stafford loan limit of $138,500 which includes undergraduate loans. Interest begins to accrue on unsubsidized loans at disbursement.

Interest Rate:

5.84%

Fees:
Disbursed before October 1, 2015
Disbursed on or after October 1, 2015

 

An origination fee of 1.073% is deducted from each disbursement.

An origination fee of 1.068% is deducted from each disbursement.

Eligibility:

Student must maintain at least half-time enrollment each semester and meet basic eligibility requirements.

Repayment:

Repayment is deferred while the student is enrolled at least half-time. The standard repayment term is 10 years. Direct loans are eligible for other repayment plans and can be consolidated with other federal loans. The Direct Stafford Loan program is eligible for Income-Based Repayment, Public Service Loan Forgiveness and WCL’s Public Interest Loan Repayment Assistant Program.

Federal Direct Grad PLUS Loan

The Grad PLUS loan is available to supplement Stafford loans and allows students to borrow up to the cost of attendance less other aid received.

Interest Rate:

6.84%

Fees:
Disbursed before October 1, 2015
Disbursed on or after October 1, 2015

 

An origination fee of 4.292% is deducted from each disbursement.

An origination fee of 4.272% is deducted from each disbursement.

Eligibility:

Student must maintain at least half-time enrollment each semester and meet basic eligibility requirements.

Repayment:

Repayment is deferred while the student is enrolled at least half-time. The standard repayment term is 10 years. Direct loans are eligible for other repayment plans and can be consolidated with other federal loans. The Direct Stafford Loan program is eligible for Income-Based Repayment, Public Service Loan Forgiveness and WCL’s Public Interest Loan Repayment Assistant Program.

Federal Work Study (FWS)

Federal Work Study (FWS) is a federally sponsored program. Funding is limited. Once hired, eligibility is determined by the WCL Financial Aid office. In order to receive federal work study as a part of your financial aid package students must have a FAFSA on file and have demonstrated financial need. Full-time 2L and 3L (JD) students are limited to 20 hours of work per week. Full-time, first-year law students are permitted to work in a limited capacity (maximum 10 hours per week during the 1L academic semesters) with approval provided by either the dean of students or a first-year doctrinal (large class) professor.