New J.D. Students
Applying for Students Loans
Financial Aid Packages//Total Cost of Attendance
If you have submitted your FAFSA and PROFILE forms, you should have received a Financial Aid Award Letter from the GW Law Financial Aid Office. That notice sets forth the total cost of attendance for the 2008-2009 academic year, as well as the financial aid (any grants and loans) to which you are entitled for the upcoming academic year.
The total cost of attendance is based upon a 9-month budget and includes tuition, and averages of room & board costs, health insurance expense, cost of books/supplies, transportation and personal expenses. Your financial aid award likewise is for the 9-month academic year. The total cost of attendance for the 2008-2009 academic year is $62,800 for full-time students and $50,700 for part-time students.
Please remember that you must apply for financial aid each year. The amount of need-based aid awarded to you may differ each year depending upon the total cost of attendance, your financial circumstances and availability of funds.
Meeting the Cost of Unmet Need
The financial aid award notice issued to you by GW Law lists any grants (merit-based and/or need-based) you are receiving, the Federal Stafford and GradPLUS Loans you may borrow, and any Federal Perkins Loan for which you qualify.
Need-Based Grant Awardees Must Borrow the Stafford Loan.
If you have been awarded a need-based GW tuition grant, you must borrow at least the maximum Federal Stafford Loan ($20,500.00). The Federal Stafford Loan currently has a fixed interest rate of 6.8% and a standard repayment period of 10 years.
Students May Borrow Federal GradPLUS or Other Private Loans
If you must borrow funds in excess of the maximum Federal Stafford Loan, you may borrow the Federal GradPLUS Loan, which currently has a fixed interest rate of 8.5% with a standard repayment period of 10 years. If you borrow a Federal GradPLUS loan, you may be charged up to 4% in fees.
Please note that you are not required to borrow the GradPLUS. Rather, you may find other private loans that have more favorable rates and terms.
You Must Select A Lender and Apply for your Federal Stafford, GradPLUS and Other Private Loans
If you have made your first seat deposit and are committed to attending GW Law, now is the time to apply for your student loans. You may borrow your Federal Stafford, Federal GradPLUS and any private loans from any lender of your choice. The GW Law Financial Aid Office will work with your chosen lender to facilitate certification and disbursement of your student loans.
1. Choose your lender
If you are borrowing through the Federal Stafford and GradPlus Loan programs, you must select the lender from whom you will borrow. (GW Law is not a direct lender school; Federal Stafford and GradPlus Loans come through commercial lenders rather than directly through GW.) In addition, you may borrow private loans from the lender of your choice.
2. GW Law Preferred Lender List
GW Law has compiled a list of Preferred Lenders. You may select any lender, whether or not that lender is on the GW Law Preferred Lender List. You should also review the criteria used in compiling this list, as well as 
comparative information about the lenders on GW Law’s Preferred Lender List and the definition of loan terms .
3. Apply directly to your lender for your Stafford, GradPLUS and private loans
Once you have selected a lender, you must apply directly to that lender for your Federal Stafford and GradPLUS Loans, as well as any private loans you are requesting. Most lenders are set up so that you may apply and be approved for your loans online, as well as execute a master promissory note. Please send to the GW Law Financial Aid Office copies of any promissory notes you sign and be sure to keep a copy for your records.
4. Submit the First-Year GW Law Financial Aid Supplement once you have chosen your lender
Once you have selected your lender and submitted your loan applications to that lender, you must submit the First-Year GW Law Financial Aid Supplement to the GW Law Financial Aid Office. This form serves to inform the GW Law Financial Aid Office of your choice of lender, as well as the amounts you will be borrowing in each type of student loan.
5. Provide copies of 2007 federal tax returns to GW Law Financial Aid Office
You must provide a copy of your 2007 federal tax return (and that of your spouse, if you are married) to the GW Law Financial Aid Office if you are receiving a need-based grant or if you have been selected for verification by the U.S. Department of Education. If you provided parental information on your PROFILE form, you also must provide copies of your parents’ 2007 federal tax return.
6. Complete Federal Loan Entrance Counseling
If you are borrowing Federal Stafford and/or GradPLUS loans, you must complete Federal Stafford and GradPLUS Loan Entrance Counseling online at www.mapping-your-future.org. The GW Law Financial Aid Office must confirm that you have completed your entrance counseling in order for your financial aid file to become complete. GW Law Financial Aid cannot certify your loans until your financial aid file is complete.
7. GW Law will work with your lender once you have been approved.
Once your lender approves your loans, your lender will work directly with GW Law for certification and disbursement of your loans.
Federal Perkins Loans
Federal Perkins Loans are disbursed directly from The George Washington University. If you have been awarded a Perkins Loan, GWU will send you an information packet in late June. This packet will contain a Federal Perkins Master Promissory Note and Perkins Loan Questionnaire. You will need to sign the promissory note, complete the questionnaire and return these documents to GWU.
Disbursement of Your Financial Aid
All financial aid awarded to you and/or certified for you by the GW Law Financial Aid Office (merit scholarship awards, need-based grants, Federal Stafford and GradPLUS Loans, Federal Perkins Loans, any private loans, and other GW Law institutional awards) will be disbursed to your GWU student account – ½ at the start of the fall 2008 semester and ½ at the start of the spring 2009 semester. These funds will be used first to cover the tuition cost each semester and any housing cost if you are living in GWU housing. If amounts remain in your student account after payment of tuition and any GWU housing expense, these funds will be refunded to you in the form of a check. Generally, students are able to pick up refund checks at GWU Colonial Central (in the Marvin Center) by the second week of each semester.
Please note: If the lender you choose does not disburse your loan funds electronically but disburses in the form of a paper check, you may be required to endorse each loan disbursement check before it can be deposited into your GWU student account. This may result in a delay in the processing of any refund for you.
Please be sure that you plan ahead. Because you will not receive a refund of any remaining scholarship, grant or loan funds until after classes have begun each semester, you must be sure that you have sufficient funds on hand at the start of each semester to pay your expenses while you wait for your refund check to become available and to clear (you will have to deposit your refund check into your personal bank account and allow for it to clear). Be sure that you have money on hand to pay your August 2008 and January 2009 rent, buy food, books, etc.
Financial Aid Counselor Assignments
GW Law’s Financial Aid Office determines your financial aid package, which may include merit-based grants, federal student loans, need-based grants, and private/commercial loans. You have been assigned a financial aid counselor, based upon the first letter of your last name. The assignments are as follows:
Last name begins with Financial Aid Counselor
A - G:
Nancy LaMotta
Nancy@law.gwu.edu
202.994.3437
H - O:
Beth Amurao
Beth@law.gwu.edu
202.994.3417
P - Z:
Darshani Don
Darshani@law.gwu.edu
202.994.6087
You may contact your counselor at any time for guidance through the financial aid process. The GW Law Financial Aid Office is located at 700 20th Street, NW, Washington, DC 20052.