Scholarships and Loans
Scholarships
Applicants are automatically considered for merit-based scholarships by the Admissions Office. Scholarship awards range from partial tuition to full tuition. Full-tuition scholarships include mandatory fees and a stipend for books. Applicants interested in scholarships should submit their admissions application as early as possible -- preferably before January 1st. No additional documentation is required. Students who have been selected for a scholarship will be notified by the Admissions Office.
The scholarships below are Loyola-specific programs. Other programs exist, however, and all applicants are encouraged to conduct their own search for scholarships. One of the best and most reputable free scholarship search engines is: www.fastweb.com.
Fritz. B. Burns Scholarships
- Generously funded by the Fritz B. Burns Foundation in order to attract students of high achievement and great potential for outstanding leadership positions in the legal community.
- Scholarships are awarded to the most outstanding entering students for both the Day and Evening Division.
- Tuition, all fees, and a stipend for books are included. This scholarship can be renewed.
The Public Interest Scholars Program
- Designed for law students who are committed to practicing in the field of public interest law.
- Includes specialized externships and paid summer jobs in public interest law.
- The scholarship amount varies. This scholarship can be renewed.
Dean's Scholarships
- Awarded to several outstanding students upon entrance.
- Tuition, mandatory fees, and a stipend is included. This scholarship can be renewed.
Loyola Scholarships
- Awarded on the basis of academic achievement as well as diversity of background and experience.
- These are partial scholarships. Some awards may be renewable.
Yellow Ribbon Award
Loyola Law School will participate in the VA Yellow Ribbon Program during the 2010-2011 Academic Year. The Law School has agreed to provide a direct grant of $2,000 to a maximum of 15 qualifying veterans during the 2010-11 Academic Year ($1000 in the Fall term and $1,000 in the Spring term).
Students will be considered to receive the Yellow Ribbon Award on a first come first serve basis. Students who are veterans eligible for the Yellow ribbon program must submit a copy of their Certificate of Eligibility (COE) to the Registrar's Office. The priority deadline is August 12, 2010.
Students will receive notification from Loyola Law School if they are selected to receive the Yellow Ribbon Award.
Loan Programs
The major source of funding for Loyola Law School students is federal loans. The most common funds LLS offers are:
Direct Subsidized loan
- Annual maximum up to $8,500 depending upon student's financial aid eligibility.
- Government pays the interest while the student is in school and for six months after the student graduates or drops below half time status.
- Fixed interest rate of 6.8%.
- Subject to origination fee of up to .5% (deducted from loan proceeds).
Direct Unsubsidized loan
- Annual maximum up to $20,500 minus Direct subsidized eligibility.
- Student incurs the interest while in school but is not required to make payments until six months after graduating or dropping below half time status.
- Same interest rate and origination fee as Direct Subsidized loan.
Federal Perkins loan
- Awarded to a limited number of students based on financial need and fund availability.
- Interest rate is fixed at 5%.
- Interest on the loan is deferred and repayment begins nine months after the student graduates or drops below half time status.
Direct Graduate PLUS loan (GPLUS)
- You may borrow up to the annual cost of attendance minus any other financial aid received.
- Interest rate is fixed at 7.9%.
- Mandatory 2.5% origination fee (deducted from loan proceeds).
- Student incurs the interest while in school but is not required to make payments until six months after graduating or dropping below half time status.
- While credit history is a major factor in being approved for this loan, the credit criteria is considered less stringent than that of most private loans. Thus, we strongly recommend that you obtain credit reports by contacting: