Aid Programs

Most graduate students need to take out loans to finance their educational costs. These loans can be guaranteed by the federal government or approved through private lenders. All loans have to be repaid, however, federal guaranteed loans are usually at a lower interest rate.

There are two types of loans available under the Federal Stafford Loan Program:

You may be eligible to receive both Subsidized and Unsubsidized Loans, but the yearly total of both loans must not exceed the federal loan limits of $20,500 (maximum $8,500 subsidized). In addition, the lifetime limits for all Subsidized and Unsubsidized loans may not exceed $138,500 (maximum $65,500 Subsidized). The lifetime debt limit includes loans received for undergraduate study. You must be enrolled at least half-time (five credits) to receive the Stafford Loan.

Alternative Loans
Alternative loans are non-need credit-based loans, which may be used to supplement other forms of financial assistance. To be eligible for an alternative loan, you must meet the criteria established by the specific lender. Although annual loan minimums and aggregate loan limits vary from lender to lender, the maximum annual limit for an alternative loan must not exceed a student's cost of education minus any other aid received. The lender sets aggregate loan limits. Some alternative loan applications are available on line at http://www.law.msu.edu/finaid/altpriv_loans.htm or they may be picked up in our financial aid office.

Federal Work Study
The Federal Work-Study (FWS) Program is a need-based work program subsidized by the state or federal government. Past employers have been the American Civil Liberties Union, County Probate Court Offices, Attorney Generals Office and Legal Aid of Central Michigan. Employers usually are private, non-profit organizations or local, state or federal public agencies, and the work performed must be in the public interest. Work awards are paid directly to the student in bi-weekly paychecks. Additional information about Work-Study can be obtained here.

Scholarships and Grants can come from many sources, including MSU Law, state agencies, private foundations, professional and service organizations and the federal government. These funds do not have to be repaid.