Financial Aid
Scholarships
Grants
Grant funds available at the UC Davis School of Law include Law School Grant and State UC Grant. Grants do not need to be repaid as long as the student remains eligible. Full-time enrollment for grant funding is 10 units per semester. Students taking less than 10 units may be billed for aid received.
Federal Perkins Loan
Federal Perkins Loan is federal loan borrowed through the university based on financial need with a fixed interest rate of five percent. Repayment begins nine months after graduation or withdrawal from school. You may receive multiple Perkins Loans under one Master Promissory Note while you are enrolled at UC Davis.
Direct Loan Information
Federal Direct (Subsidized) Loan: Federal Direct (Subsidized) Loans are based on financial need and have a variable interest rate that is adjusted annually, capped at 8.25%. Subsidized loans have interest paid by the federal government while the student is in school. Repayment begins six months after graduation or withdrawal from school. There is a 3% loan fee charged for Direct Loans, which is deducted proportionately from each loan disbursement.
Federal Direct (Unsubsidized) Loans: are not based on financial need. Interest is charged to you beginning the day the loan is disbursed until the loan is repaid in full. You may pay the interest while you are in school, during the grace period, or during deferment, or you may capitalize the interest (by adding it to the total principal of the loan when you graduate).
Graduate Plus & Private or Alternative Loans (private educational loans)
Students who need to borrow funds beyond the federal subsidized, unsubsidized, and Perkins loan limits will now be able to choose between the federal Graduate Plus Loan and Private or Alternative Loans. The Grad Plus Loan is provided by the William D. Ford Direct Loan Program because UC Davis is a Direct Loan institution for federal student loans.
The Direct Grad PLUS being offered at UC Davis has a fixed interest rate of 7.9%, no annual or aggregate borrowing limits (other than cost of attendance less other financial aid received). While credit checks are required to be eligible for the Grad PLUS, the credit criteria are less strict than those associated with private student loans. Furthermore, if you do not meet the credit requirements for a Grad PLUS, you may still obtain the loan with an endorser who does meet the credit requirements. All Federal Graduate PLUS loans have a 2 ½ % origination fee deducted from the loan amount.
The Loan Comparison Chart is designed to help you to consider the significant variables when choosing between the Grad Plus Loan and Private or Alternative Loans. A Private or Alternative Loan may be less expensive depending on your credit score and whether the variable interest rate will increase until you complete repaying the loan.
To receive a Grad Plus Loan, print, complete, and submit the Direct Graduate Plus Loan Request & Credit Authorization Form to the Law Financial Aid Office, 117 King Hall. In addition, students must complete the new electronic Master Promissory Note for the Direct Plus Graduate Loan, available through the Department of Education Web site at dlenote.ed.gov.
For more information about Private or Alternative Loans and to obtain an application, visit http://financialaid.ucdavis.edu/graduate/Types/LenderLists.html
Federal Work Study
Federal Work-study funding is awarded based on need, which is determined by the Free Application for Federal Student Aid (FAFSA). Federal Work-study provides an opportunity to earn financial aid through employment with public interest and non-profit organizations. Instead of a financial aid check, a Work-study award is paid in the form of a payroll check for time/hours worked. Only second and third year law students will be eligible to apply for federal work-study.
Private Bar Study Loans
Private Bar Study Loans are available to graduating students who are scheduled to take the Bar Exam.
Bar loan approval is subject to satisfactory credit history. Graduating students can only borrow from one private lender. Repayment begins nine months after graduation, and the interest accrued during the interim period will be capitalized (added to the loan principal) once the loan goes into repayment. Information regarding guarantee fees, origination fees and repayment options, is available at http://financialaid.ucdavis.edu/graduate/Types/LenderLists.html.
Regents Bar Loan
The UC Davis School of Law offers a Regents Bar Loan to third year students in need of assistance with costs related to Bar Study and the State Bar Examination. The maximum loan available is $4,000 at 8% interest. Interest will begin to accrue June 1. Repayment begins January 1 following graduation. Interest on the loan is calculated monthly on the unpaid balance. A $50 minimum monthly payment will be required. Payments can extend over a maximum of ten years. Regents Bar Loan applications are available online.
Law School Emergency Loan
The emergency loan is available to assist any enrolled matriculating re-entry student. The emergency loan is available to help cover any unforeseen educationally related expense. The emergency loan cannot be used to pay any previous debts. Applications may be submitted only during the academic year, thirty days after the start of the semester and up to thirty days prior to the end of a semester. For further information and an application please inquire with the Law School Financial Aid Office.
