Student loans represent the most widely used funding option for students at Arizona Summit Law School. Many types of loans are available, and to secure the best interest rates available, many students take advantage of multiple loan options, including Federal Graduate PLUS and private loans. Note that while you may receive funding from multiple sources, your total loan amount cannot exceed the Arizona Summit Law School set cost of attendance, less any scholarship or other financial assistance.

Find the loans available to students at Arizona Summit Law School below.

Federal Stafford Unsubsidized Loans

Unlike other loan options, Federal Stafford Unsubsidized Loans are guaranteed by the government and are not based on financial need or credit.

Federal Stafford Unsubsidized Loan information:

  • You must complete and submit the Free Application for Federal Student Aid  (FAFSA).
  • If you qualify, you may receive up to $20,500 per academic year (two semesters).
  • Unsubsidized loans disbursed from October 1, 2015, to September 30, 2016, have an origination fee of 1.068%.  
  • The interest rate is fixed at 5.31% for the 2016-17 academic year (July 1, 2016 to June 30, 2017).
  • Interest begins to accrue at the time of disbursement. You may decide to pay the interest on the unsubsidized loan as it accrues, or allow it to capitalize while you are attending law school.
  • You'll have a six-month grace period after graduating, withdrawing from school, or if your enrollment drops below half-time status.
  • There is a $138,500 aggregate limit for all your Federal Stafford Loans (subsidized and unsubsidized) including your previous student loans (undergraduate and graduate level).

For more information on Federal Stafford Unsubsidized Loans, please visit the U.S. Department of Education's Federal Student Aid.

Federal Graduate PLUS Loans

Unlike Federal Stafford Unsubsidized Loans, Federal Graduate PLUS Loans are credit-based federal loans that graduate students may use to help pay education expenses while in law school. 

Federal Graduate PLUS Loan information:

  • You must complete the Free Application for Federal Student Aid (FAFSA)
  • Your credit history affects your eligibility for this loan. Adverse credit reports will require a qualified co-signer. Some of the adverse credit conditions include but are not limited to bankruptcy, foreclosure, repossession, defaulted loan(s), tax lien, etc. within the last five years.
  • Graduate PLUS loans which disbursed between October 1, 2015 and before September 30, 2016 have an origination fee of 4.292%.  
  • The interest rate is fixed at 6.31% for the 2016-2017 academic year (July 1, 2016 to June 30, 2017).
  • Interest begins to accrue on the date of disbursement. You may decide to pay the interest on the unsubsidized loan as it accrues, or allow it to capitalize while you are attending law school.
  • You'll have a six-month grace period after graduating, withdrawing from school, or if your enrollment drops below half-time status.
  • Unlike the Federal Stafford Loans, there is not an aggregate limit on PLUS loan funding*, except for the limitations of the Cost of Attendance.

For additional information about the Graduate PLUS loan, please visit the U.S. Department of Education's Federal Student Aid at here.

*If you are interested in a Federal Work Study position, you should not apply for the maximum amount in the Grad PLUS loan. Please contact Financial Aid at financialaid@azsummitlaw.edu  for additional information about Federal Work Study.

 

For more information on funding your legal education, please contact our Financial Aid Office at 602.682.6800 or financialaid@azsummitlaw.edu.