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Federal Unsubsidized Direct Loans

Federal Unsubsidized Direct Loans are the major form of financial aid for law students. Any regular student who is eligible to receive Federal Student Aid and is enrolled at least half-time may borrow up to the maximum eligible amount for the academic year.

For incoming student in the 2026-27 cohort and later, the maximum eligible amount of the unsub loan is $50,000. This amount may be prorated if a student takes fewer than 20 units in the first year.

For continuing students who were enrolled prior to the 26-27 cohort and have taken loans previously while continuously enrolled, the student may choose to take the new unsub loan limit of $50,000 and no grad plus loan. Or they can elect to keep the legacy loan limits of, maximum unsub loan of $20,500 and take a grad plus loan up to the cost of attendance budget assigned to them.

A significant change for all students is the requirement for loans to be prorated if the student is enrolled in less than 20 units each academic year. You must be enrolled in at least 20 units for an academic year to be eligible for the maximum amount of loans. The loans will be prorated for all students if they enroll in less than 20 units per academic year. It will be important to plan your schedule accordingly if you intend to front load units in  your second and third year to take less than 20 units in your final year. The loan proration requirements may result in unequal loan disbursements per semester.

Origination fees for this loan are 1.057% effective for loans first disbursed between 10/1/21 and 9/30/26. The interest rate for this loan is a variable fixed rate that is reset each year on June 1st and is capped at 9.5%. Please see below for interest rate details. For further information (including sample repayment options) about Federal Direct Loans, go to studentaid.gov. The Unsubsidized interest begins to accrue immediately upon disbursement. The student has the option of paying the interest quarterly or allowing it to accrue while in school. Repayment begins six months after the borrower graduates or is no longer enrolled at least half-time. Federal law requires both entrance and exit counseling for this loan.

SJCL requires new students to complete graduate level loan entrance counseling at studentaid.gov before any federal student loan will be originated for them. Students in their final year of the program must complete online exit counseling at the same website. In addition, graduating students are required to attend an in-person exit counseling session in the spring semester prior to graduation. Student loan borrowers must also sign a master prom note for the loan at studentaid.gov.

Federal Graduate Plus Loans

Only students who are considered an enrolled student as of June 30, 2026 qualifies. Accepted students are not eligible for a grad plus loan.

Graduate students are eligible to borrow under the Federal Direct PLUS Loan program up to their cost of attendance minus other estimated financial assistance. The Federal Direct Unsubsidized Loan must be applied for first. The terms and conditions include that applicants must not have an adverse credit history, repayment begins on the date of the last disbursement of the loan (students still in school may request deferment/forbearance to postpone repayment), 4.228% effective for loans first disbursed 10/1/21 and 9/30/26. The interest rate is a variable fixed rate that is reset each year on June 1st and is capped at 10.5%. Please see below for interest rate details. These loans will be helpful for those students in the 3-year program or others who would otherwise rely on private loans to cover their educational expenses above tuition and fees. Unlike private loans, PLUS loans are usually easier to qualify for, federally regulated, and able to be consolidated with Federal Direct Unsubsidized loans upon graduation. Further information can be found at studentaid.gov. Federal Direct Graduate PLUS Loans have no loan aggregate. The student has the option of paying the interest monthly or quarterly or allowing it to accrue while in school. Repayment begins six months after graduation or when the borrower falls below a half-time status. Federal law requires both entrance and exit counseling for this loan.

SJCL requires new students to complete graduate level loan entrance counseling at studentaid.gov before any federal student loan will be originated for them. Students in their final year of the program must complete online exit counseling at the same website. In addition, graduating students are required to attend an in-person exit counseling session in the spring semester prior to graduation. Student loan borrowers must also sign a master prom note for the loan at studentaid.gov.

There is a credit check required for a grad plus loan which is good for six months. Borrowers who have an adverse credit history must meet additional requirements to qualify.

Interest Rate Details

Retroactive to 7/1/13, the Bipartisan Student Loan Certainty Act of 2013 amends the Direct Loan interest rate section of the Higher Education Act. There are now new formulas that apply to all Direct Loans – including graduate Unsubsidized and Graduate PLUS.

Each year, the interest rate will be determined by the 10-year Treasury note (T) auctioned at the final auction held prior to June 1, plus a statutorily defined “add-on”. The rate will then be effective for loans disbursed on or after July 1 of that year. The rate formula add-on will be T + 3.60% for graduate unsubsidized loans and T + 4.60% for Graduate PLUS loans. The interest rate for loans first disbursed on or after 7/1/2024 and before 7/1/2025 will be 8.08% for Direct Unsubsidized loans and 9.08% for Direct PLUS loans. For loans first disbursed on or after 7/1/2025 but before 6/30/2026, 7.94% for Federal Direct Unsubsidized and 8.94% for Grad PLUS loans. The interest rate, once established, will apply for the life of the loan. As a result, it is likely that many borrowers will have a set of fixed-rate loans, each with a different interest rate.

NOTE: Just because you CAN borrow maximum loan amounts does not mean you SHOULD. Please review your budget carefully and only borrow what you absolutely need. Loan totals add up quickly, as does accruing interest. Do not saddle yourself with an unmanageable loan debt that you may not be able to easily repay once you leave school.

Student Aid Eligibility

Eligibility for federal student aid is based on financial need and on several other factors. The Financial Aid Director will determine your eligibility. 

To receive aid from federal financial aid programs, you must: 

• Demonstrate financial need (except for loans)
• Be enrolled or accepted for enrollment as a regular student working toward a degree
• Be a U.S. citizen or eligible noncitizen
• Have a valid Social Security Number
• Maintain satisfactory academic progress once in school
• Certify you are not in default on a federal student loan and do not owe money on a federal student grant
• Certify that you will use federal student aid only for educational purposes

How will I know what I'm eligible for?

The information you reported on your FAFSA is used to determine your Student Aid Index (SAI), which is calculated by a formula established by law. The SAI is not the amount of money that your family must provide. Rather, you should think of the SAI as an index that we use to determine how much financial aid you would receive if you were to attend SJCL.

Federal Work Study

For Federal Work Study, the financial aid office at SJCL takes your cost of attendance and then subtracts your SAI and any need based aid you will get from other sources. The result is your remaining financial need:

Financial Aid for Study Abroad Programs

Students who wish to receive financial aid funds through SJCL (the home institution) for a study abroad program sponsored by another institution (the host institution), may do so by contacting the financial aid office as soon as they have been approved by the SJCL Faculty Committee. This process must be done well in advance of the program start date to assure completion of the required forms.

Approved students must give the financial aid office the name and email address of the contact person at the host institution so that a cooperative enrollment agreement for financial aid can be sent for completion and submission back to SJCL. The agreement lists the start/end dates, number of units and costs of the program for inclusion in the student’s cost of attendance.

Please contact the Financial Aid Office for further information.

When will I receive the Financial Aid funds?

No financial aid can be disbursed until all financial aid documents are complete. Federal Direct loan disbursements are made to the school in equal payments at the beginning of each term. The first disbursement will be within seven days from the from the start of each term of the academic year. Check with the accounting office for issue dates of overage checks (amounts over what is owed to the school for tuition and fees). NOTE: Book purchases must be made using your own resources. Tuition payments can be delayed until your financial aid has been received.