Scholarships | Student Loans | Work Study
Scholarships
DU Named and Endowed Scholarships »
Outside Scholarships & Writing Competitions »
All students who wish to apply for scholarships, or any other form of financial aid, must fill out the FAFSA (Free Application for Federal Student Aid) »
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Student Loans
In order to get any federal or institutional financial aid, including student loans, students must fill out the Free Application for Federal Student Aid (FAFSA), and fulfill the criteria required by the Department of Education.
Federal Perkins Loan | Graduate PLUS Loan | Private (Alternative) Student Loan | Stafford Loan | Satisfactory Academic Progress
Applying for Private Loans (PDF) »
Choosing Between Grad PLUS and Private Student Loans (PDF) »
Choosing a Federal Loan Lender (PDF) »
Federal Perkins Loan
The Perkins Loan is a federally guaranteed student loan with a fixed interest rate of 5% which is awarded to students with demonstrated financial need who are enrolled at least half time. Funding is limited so interested students should submit their FAFSA by March 1st for priority consideration. The 5% interest rate does not accrue while enrolled half-time, during the 9-month grace period, and during periods of eligible deferment. If you have been awarded a Perkins loan, additional information regarding the promissory note and entrance counseling is available on the Bursar's website at www.du.edu/bursar/perkins.htm »
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Graduate PLUS Loan
- A federal loan with a fixed interest rate of 8.5%
- Credit check required*
- Borrow up to the total Cost of Attendance, minus other financial aid
- Payments can be deferred while you are in school
- Up to 25 year extended repayment period
- 3% origination fee is deducted from the disbursement amount
- 1% guarantee fee (some lenders will pay this for you)
- Can be included in a federal loan consolidation
- No aggregate loan limit
- No grace period, but some lenders offer forbearance
- Some lenders offer on-time repayment incentives reducing the effective interest rate
*In order to be approved for a Grad PLUS loan, you will need to have no adverse credit. Adverse credit is defined as 90 days or more delinquent on any debt, or having a credit report that shows default, discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV (federal student loans) debt, in the past five years. You can get a free copy of your credit report once a year online at
www.annualcreditreport.com »
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Private (Alternative) Student Loan
- A student loan from a bank that specialized in student loans
- Variable interest rate, depending on lender
- Credit check required*
- Borrow up to the total Cost of Attendance, minus other financial aid
- Payments can be deferred while you are in school
- Up to 15 or 20 year repayment period, depending on lender
- Fees vary, depending on lender
- Cannot be included in a federal loan consolidation
- Aggregate loan limit depends on lender
- 6 to 9 month grace period, depending on lender
- Some lenders offer on-time repayment incentives reducing the effective interest rate
*Individual lenders have different credit requirements, but in general the requirements for private student loans are more stringent than those for Grad PLUS loans. You can get a free copy of your credit report once a year online at www.annualcreditreport.com »
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Stafford Loan
Students may borrow a total of $20,500 in Federal Stafford Loans. Up to $8,500 (depending on the results of the FAFSA) of that total may be Subsidized Stafford Loan (interest is paid while the student is in school). The remainder will be in Unsubsidized Stafford Loan (interest accrues while the student is in school).
- Federal loan with a fixed interest rate of 6.8%
- No credit check required
- Payments can be deferred while you are in school
- Up to 25 year extended repayment period
- 2% origination fee (some lenders may pay this for you)
- 1% guarantee fee (some lenders may pay this for you)
- Can be included in a federal loan consolidation
- Six month grace period
- Some lenders offer on-time repayment incentives reducing the effective interest rate
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Satisfactory Adacemic Progress
Federal student loans (and some private loans) require that you be making Satisfactory Academic Progress. Please click here to review this policy »
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Work Study
Federal work study is a great way to help reduce student loan debt. Because federal work study is considered need-based financial aid, a student must have financial need as determined by the Free Application for Federal Student Aid (FAFSA) and may not have financial aid exceeding the total cost of attendance. The FAFSA may be completed online at www.fafsa.ed.gov. A student may request a work study award each academic year by indicating interest in work study on the FAFSA.
Quick Facts:
- ABA regulations prohibit first year law students (full time day students) from working during their first year, and this includes work study.
- Full time 2nd and 3rd year JD students may work no more than 20 hours per week.
- Part time students may work no more than 37.5 hours per week.
- Students may work no more than 7.5 hours in a day.
- A student may not be paid more than the yearly work study award, unless the supervisor has agreed to pay the student through his/her departmental budget.
- Timesheets are due every other Friday by noon and students are paid the following Friday by direct deposit or check.
- Timesheets must be signed by the approved supervisor and the student.
- Students must be enrolled in and complete at least 8 credit hours per semester.
- Students cannot work during observed campus holidays when the school is closed.
For a list of work study job openings,
click here »
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