Financial Aid General Information 2013-2014
It is the goal of the GW Law Financial Aid Office to provide you the information necessary to make good choices in financing your law school education. Our office offers a number of programs to assist you in financing your education including institutional gift aid: scholarships and need-based grants, as well as participating in Federal Direct Loan programs and assisting students in obtaining private educational loan products.
If you apply for financial aid, you will be provided with a financial aid award package outlining scholarships, grants, and federal student loans for which you may be eligible. You may also choose to borrow private student loans. Although most law students are likely to take on significant student loan debt, it is our goal to help students minimize debt to the greatest extent possible.
The total amount of your financial aid package (scholarships, grants, and loans) cannot exceed the total cost of attendance as set by the GW Law Financial Aid Office. Additionally, merit scholarships and GW Law need-based grants combined may not exceed the cost of tuition and fees. This total cost of attendance changes each year and includes tuition expenses, as well as average student living expenses. For more information, please review the 2013-2014 Standard Cost of Attendance. Please note that tuition rates and total cost of attendance figures are subject to change at any time.
Pay careful attention to all intranet postings and e-mail messages that you receive from GW Law, and be sure to let your financial aid counselor know of any changes in your e-mail address.
GW Law Need-Based Grants
All non-transfer JD candidates, who are U.S. citizens or permanent residents and who demonstrate significant financial need will be considered for need-based grants. You must reapply for need-based grants each year. Grant award amounts may change each year based upon your financial need and availability of funds; renewal is not guaranteed. The annual amount of your need-based grant is determined based upon the information you (and your parents, if applicable) provide on the FAFSA.
As a threshold requirement, JD students must borrow the maximum Federal Direct Stafford Loan ($20,500) each year in order to be considered for a GW Law need-based grant. The only exception to this requirement is in the case of students who are ineligible to borrow Federal Direct Student Loans.
Important Notes:
If you wish to be considered for a need-based grant, and you were born on or after January 1, 1985, your parents must complete the parental information section of the FAFSA.
All students with demonstrated need will be considered for GW need based grants, regardless of having received a GW Law merit scholarship. You do not need to complete the parental information section of the FAFSA.
If you wish to be considered for a need-based grant, you must submit:
1) The 2013-2014 Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1, 2013, with as much accurate information as you can provide. The Law School's FAFSA code is E00196.
Please note: Because you are going to be a graduate student, the FAFSA instructions indicate that only your data (and your spouse's data if married) is required on the form in order for you to apply for federal aid. However, GW Law uses the FAFSA to determine eligibility for need-based grants, so GW's instructions override those of FAFSA.
2) The GW Law Financial Aid Request Form. Our office is working to make this form electronic. We expect it to be available to you by June 1, 2013. Please contact the Law Office of Financial Aid if you have any questions.
3) Each year as part of its monitoring and auditing of federal student loan programs, the U.S. Department of Education selects FAFSAs at random for a process known as verification. If your FAFSA is selected, you may be asked to provide GW Law Financial Aid with a copy of your (and spouse's data, if married) federal tax transcripts for tax year 2012, as well as a federal verification form. If you were born on or after January 1, 1985, your parents may be asked to provide copies of their federal tax transcripts for the tax year 2012. The GW Law Financial Aid Office will let you know by e-mail if your tax transcripts or any other documents are required.
Federal Direct Student Loans
To have your eligibility determined for Federal Direct Loans, you must submit:
1) The FAFSA with your (and your spouse's, if married) information. If you are seeking only Federal Direct Student Loans and do not wish to be considered for a need-based grant, your parents do not need to provide any information.
2) The GW Law Financial Aid Request Form. Our office is working to make this form electronic. We expect it to be available to you by June 1, 2013. Please contact the Law Office of Financial Aid if you have any questions.
Types of Federal Direct Student Loans
Federal Direct Stafford Loan
All students who are U.S. citizens or permanent residents may borrow up to $20,500 each year in the Federal Direct Stafford Loan, regardless of credit-worthiness. Currently, the interest rate on the Federal Direct Stafford Loan is fixed at 6.8%, with the up-front fees charged of 1.051%. Unless an extended payment plan is chosen, the Federal Direct Stafford Loan must be repaid within 10 years. The aggregate maximum a student can borrow through Federal Direct Stafford Loans is $138,500.
Federal Direct GradPLUS Loan
All students who are U.S. citizens or permanent residents and who do not have "adverse credit" in the 90 days prior to application for the loan may borrow the Federal Direct GradPLUS loan in an amount up to the total cost of attendance less all other financial aid. Your credit report will be pulled by the Department of Education, or its contractors, and a hard hit on your credit report will result. Credit decisions are good for 90 days. Currently, the interest rate on the Federal Direct GradPLUS Loan is fixed at 7.9%, with up-front fees charged of 4.204%. Unless an extended payment plan is chosen, the Federal Direct GradPLUS loan must be repaid within 10 years. There is no aggregate maximum amount for the Federal Direct GradPLUS.
Private Loans
Although the Law School does not package financial aid with private loans, students might prefer to borrow private loans through any lender of their choice. A private educational loan may be obtained for amounts up to the COA. The Law Financial Aid staff works with you and your lender to facilitate certification and disbursement of any private loans you wish to borrow. Private loans may not be consolidated with federal loans, and have stringent credit requirements. It is the student's responsibility to choose a private loan product; the Law School does not recommend one program over another. Our commitment to providing ethical counseling is outlined in our code of conduct.
Student Loans for International Students
Students who are not U.S. citizens or permanent residents are not eligible for Federal Direct Stafford or GradPLUS Loans. GW Law has limited endowed loan funds for which international students may qualify; they should also explore private loans, which generally require creditworthy U.S. citizen co-signers. International students should consult with a financial aid counselor for assistance.
Students must make satisfactory academic progress (SAP) toward their law degree in order to receive federal and institutional aid. Please see the Law School Financial Aid Office's SAP policy for more information.
Tracking Your Progress
We encourage you to periodically check your financial aid file's status on GWeb to ensure that all items are complete.
2013-2014 Cost of Attendance, JD Program
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Nine-Month Academic Year Costs
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Full-Time JD (minimum 12 credit hours per semester)
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Part-Time JD (20 credit hours during academic year)
|
|
Books and Supplies
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$1,670
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$1,230
|
|
Health Insurance
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$2,000
|
$2,000
|
|
Personal Expenses
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$3,200
|
$3,200
|
|
Room and Board
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$18,900
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$18,900
|
|
Transportation Allowance
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$2,000
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$2,000
|
|
Tuition and fees
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$49,840
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$35,060
|
|
Total
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$77,610
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$64,143
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*The Cost of Attendance may be increased for the following allowances: loan origination fees, a one-time computer purchase, medical expenses exceeding the COA allowance, and dependent care costs. Please see the section for the Standard Cost of Attendance for more information about obtaining an increase to your COA and an increase in your Federal Direct Graduate PLUS Loan eligibility.
Full-time JD students (taking 12 credits or more per semester) pay a flat tuition rate. Part-time JD students pay tuition at a rate of $1,753 per credit.
For planning purposes, you should estimate an annual increase in tuition of at least 5%.
Required Course Load
JD students must be enrolled for at least 6 credit hours (half-time) in each semester for which they are requesting aid. Enrollment changes may result in financial aid changes. Please refer to enrollment chart below:
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JD
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Full-time
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Half-time
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Fall/Spring semesters
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12 or more credits
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6-11 credits
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|
Summer semester
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5 or more credits
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3-4 credits
|
We will notify you via Banner e-mail when your award is ready for review on GWeb. Once you view awards on GWeb, you will be able to accept, decline, or accept a reduced award, if desired.
From GWeb, you will be able to link directly, if necessary, to the government website for Federal Direct Student Loan applications. If you previously completed William D. Ford Federal Direct Stafford or Graduate PLUS Loan Master Promissory Note (MPN) and student loan entrance counseling for enrollment at GW Law, you do not need to do it again. You may review whether or not you have completed the required counseling and MPNs on the Federal Direct Student Loans website under the headings "My Loan Documents" and "View Previously Completed Counseling," where date/time stamps of each appear if already completed.
Notification of Funds
You will be notified by e-mail of the arrival of loan funds each semester. If you do not receive notification when you expect it, check your account on GWeb, or contact the Law Financial Aid Office to check your status.
Student Account e-Refund of Excess Funds
Financial aid award funds are disbursed to your GW Law student account at the beginning of each semester. If the awards you have accepted exceed the amount owed on the GW Student Account e-Bill system per semester, you will receive a refund to assist with your external educational expenses, such as books, housing, meals, etc. To set up your direct deposit e-refund, register online through Student Account eBill.
Return and Refund Policies of Title IV Funds and Institutional Aid (including merit scholarships and GW Law need-based grants)
The GW Law Financial Aid Office is required by regulation to calculate a Refund of Fees and a Return of Title IV Funds amount for all financial aid recipients who withdraw, are dismissed, or who take a Leave of Absence during a semester. The policy applies to financial aid recipients who discontinue enrollment in all classes, on or after the first day of the semester. The Return of Title IV Funds is the amount of unearned aid you received at the beginning of the semester that must be returned to the federal aid programs. Any aid received in excess of the earned amount is considered unearned. The earned portion is calculated on a daily basis using calendar days from the first day of instruction. The GW Law Financial Aid Office will also pro-rate or revoke institutional aid depending on the timing of a change in your enrollment status. Contact a financial aid counselor for more details.
Financial Aid Application Deadline: June 30
Applications will be considered in order by date of completion, and decisions will be subject to the availability of funds.
Note to Graduating Students
You may increase your cost of attendance and Federal Direct Graduate PLUS Loan eligibility for the cost of your first state bar exam (this may include the cost of the MPRE and postage; it does not include the cost of a bar prep course). This is a reimbursement program and students must submit receipts for payment of fees. For a bar preparatory course, you may consider a private bar loan. Creditworthy applicants may apply for a bar loan from participating lenders. Please check with a financial aid counselor for more details. Financial Aid Counselors are prohibited from recommending any private loan lender by our code of conduct.
Note to Joint Degree Candidates
You must be taking law school courses in order to be eligible for GW Law School institutional need-based financial aid. The Law School Financial Aid Office will continue to process your loans, based on the tuition of the other GW division in which you are enrolled. However, if you register for one course at the Law School in a given semester, but take all your remaining credits for that semester within another division of GW, you will be charged the Law School tuition rate. Joint degree students are responsible for payment of all additional fees that may be charged by other schools at GW.
Financial Aid for Attendance at Another Law School
Students may request federal (or private, if you prefer) loans for approved, at least half-time attendance, at another law school. Students may not receive GW Law institutional aid (merit scholarships or need-based grants) for this purpose. Students should talk with a financial aid counselor, who can help guide them through the process from application to disbursement. To apply:
- Provide the GW Law Financial Aid Office with your signed approval form from the Dean of Students to take courses at another law school, the "host school".
- Provide contact information for the appropriate financial aid staff member at the host school. A GW Law Financial Aid Counselor will submit a consortium agreement to the "host" school, requesting that they: a) not process any loans for you, b) monitor your enrollment, and c) provide the GW Law Financial Aid Office with their cost of attendance for your intended enrollment period.
- Submit the FAFSA and the GW Financial Aid Request Form as usual. The GW Law Financial Aid Office will determine your eligibility for loans based on the costs provided by the host school, notify you of the aid package, and certify the loans your accept on GWeb.
- Register with the GW Law School Records Office for "continuing enrollment" status (a $35 fee per semester). This allows GW to deposit loan funds into your GW student account.
When your loan is disbursed to GW, the funds will pay into your GW student account, paying off any charges for the last semester (and any outstanding prior charges).
Once a credit for the loans appears on the GW student account, request a refund by submitting a request form to the Student Accounts Office.
If you are already signed up for GW direct deposit, Student Accounts will deposit your credit balance into your designated bank account. The student is responsible for paying the host school's tuition from the refund they receive from GW.
Summer Courses
Costs associated with taking a half-time or more course load in summer may be met with private loans or Federal Direct GradPLUS Loans. The "Summer Addendum" will be made available for you to apply in April. You will be able to access it on the Financial Aid page of the intranet portal. Please work with a financial aid counselor to apply for summer funds. Please note that federal regulations regarding satisfactory academic progress (SAP) affect fall, spring and summer disbursements of Federal Direct Loans. Please see the SAP policy for more information.
Once you have completed your FAFSA and provided all required information, the GW Law Financial Aid Office will provide more detailed information to you about the GWeb self-service system, the procedure for securing your student loans, etc., Feel free to contact the staff at any time with questions about budgeting, borrowing loan for your investment in law school, and repaying student loans.