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Financial Aid

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College of Law Dates to Remember


Fall Term 2010

August 13-21 New student orientation
August 23 Classes begin
August 27 Add deadline
October 22 Withdraw deadline
October 29 Last day to apply for graduation
December 3 Last day of classes
December 8-21 Final Exams

Spring Term 2011

January 6 New students arrive
January 10 Classes begin
January 14 Add deadline
March 4 Withdraw deadline
April 20 Last day of classes
April 28-May 11 Final Exams

LAW SCHOOL FINANCIAL AID OFFICE

This office administers all federal and private loans for law students. A member of the Office of Financial Aid of the university is available in LS 345. The telephone number is (504) 861-5551.

LOANS

Long-term, low-interest loans provide students with an opportunity to borrow the cost of education. Repayment begins when the student either graduates or is no longer enrolled at an approved school. Borrowers must be able to demonstrate financial need for some federally sponsored loans. Loan sources include subsidized and unsubsidized, and grad plus loans. Loyola University will participate "exclusively" in the William D. Ford Federal Direct Loan program. 

All applicants for financial aid must complete the Free Application for Federal Student Aid (FAFSA).  FAFSAs must be processed online at www.fafsa.ed.gov.

Offers of financial assistance are not made if admission status is pending or uncertain. The student may expect a response to the completed financial aid application after acceptance to the College of Law.

Students are urged to apply early and to supply all documentation well in advance of the beginning of the enrollment period.

SATISFACTORY ACADEMIC PROGRESS

In order to be eligible to receive assistance from any federal source, a student must be found to be making reasonable progress toward the completion of his or her degree program in addition to the demonstration of requisite need. A student is said to be making progress when he or she completes at least nine semester hours for each regular semester (fall or spring) of enrollment. A student who fails in this respect will be disqualified from receiving financial assistance from any program unless the student can be placed on financial aid probation and allowed to continue to receive assistance as long as he or she meets the terms of the probation. The terms of a financial aid probation will not necessarily coincide with the terms of an academic probation imposed by the College of Law. In addition, students who have completed two terms must have at least a 2.0 cumulative GPA.

Details are available in the Office of Scholarships and Financial Aid or at http://law.loyno.edu/lawaid

LOAN REPAYMENT ASSISTANCE PROGRAM

Many Loyola College of Law graduates devote their careers to public service work as advocates for traditionally underserved communities. Given a significant law school debt burden, such careers might not be feasible without some form of assistance. Since 1991, the Gillis Long Poverty Law Center’s Loan Repayment Assistance Program (LRAP) has tried to address this problem and remains committed to furthering its goal of providing quality legal assistance to communities throughout the country.

  • Eligible Jobs
    LRAP is available for Loyola College of Law J.D. Program graduates who work full-time as attorneys in government or nonprofit jobs throughout the United States. Employment in private law firms, teaching positions, animal rights organizations, etc. do not qualify under the program guidelines. Applicants are eligible to apply for a loan immediately upon accepting a qualifying position unless awards have already been finalized for the current year. In that event, the request for assistance would be delayed until the following September. Students and alumni who are unsure if their planned employment will meet program criteria should consult the Gillis Long office.
  • Eligible Assistance
    LRAP assistance is not available for periods of unemployment or volunteer employment. LRAP is also not available for loans from family and friends, for personal loans from banks or other sources. Although LRAP includes undergraduate loans, it does not include loans for other graduate school debt.

    There is no retroactive LRAP assistance and no LRAP assistance for periods of loan forberance or deferment. In order to be, and remain, eligible for LRAP, graduates must provide proof of good standing from the servicers of all applicable loans, including undergraduate/joint degree loans, and may not have an outstanding term bill balance with Loyola University. LRAP assistance is solely and specifically intended to be used to repay eligible education loans. Graduates may apply yearly as long as they remain in an approved program job position.

  • Application Process
    Applications are mailed annually in August. Applicants may reapply each year while in a qualifying position. Funds are sometimes awarded in two payments. The first payment is awarded in December and the second in April. Graduates who receive two payments are required to submit a second employer certification form before the second payment is awarded. It is the participant’s responsibility to report any change in employment, address, income, or other financial circumstances promptly to the Gillis Long office.

    Under new program guidelines, in addition to the Employer Certification Form(s), a letter from the employer is required by September 1st following receipt of an award confirming the applicant’s employment for the previous year. If the employer letter is not received, your grant will be reported to IRS as income and will be taxed. 

1. Part I: Contact Information
2. Part II: Employment and Income Information 

  • Start date, annual salary, and effective date of annual salary and spouse’s annual salary
  • Additional income information (other taxable, untaxed income, etc.)

3. Part III: Asset Information 

  • Amount of cash or savings (broken down by participant, spouse, and jointly held)
  • Home value, investments, etc.
  • Other loan repayment assistance amounts received

4. Part IV: Loan Certifications

  • Current balance and required monthly payment amounts for all lenders (documentation must include the monthly payment amount, current amount due as well as past due amounts, and the outstanding loan balance)
  • Spouse current loan balances and required monthly loan payments
    Forbearance and/or deferment information

5. Part V: Information Certification Form
6. Part VI: Employer Certification form with information release
7. Part VII: Signature Page for applicants and spouses

No application will be reviewed until all requested information is received.

  • Awards
    The associate director, Barbara Wilson, administers the program for the Gillis Long Poverty Law Center. Each application is reviewed for program requirements and presented to the LRAP Committee. The Committee is comprised of law faculty members, the Director and the Associate Director. This Committee reviews and approves the awards.

    Awards vary each fiscal year dependent on the number of applicants and the available funds in the budget.

    LRAP assistance is not considered taxable income if the participant works for a government agency or a 501 (c)(3) nonprofit organization (specifically legal services) and receives the repayment assistance in the form of a loan. For this reason, recipients of non-taxable LRAP awards must sign a promissory note for the amount of any LRAP assistance. These loans are then forgiven in the following year provided the graduate has complied with the rules of the program. The LRAP promissory notes are voided and returned to the graduate.
    On September 1 of each year, recipients must forward a letter (on office letterhead) from the employer confirming employment for the previous year.

The LRAP application requests the following information:

  • Income Level
    The Gillis Long LRAP program has a current salary ceiling of $47,500.00. Salary information is requested for the applicant’s spouse, but, at present, is not used in determining the LRAP award.
  • Acknowledgment
    The Gillis Long Poverty Law Center publicly extends heartfelt thanks to John and June Mary Makdisi and the Kendall Vick Public Law Foundation for their generous financial support of the LRAP Program.

For additional information, please contact: Barbara J. Wilson, 7214 St. Charles Avenue, New Orleans, Louisiana 70118, (504) 861-5762, bjwilso1@loyno.edu.

DIVERSITY FUNDING

In accord with its commitment to extend opportunities in education to all qualified students, regardless of age, color, disability, national origin, race, religion, sex/gender, or sexual orientation, and being cognizant of the underrepresentation of minorities within the legal profession, Loyola has established a fund to assist minorities in obtaining a legal education.

OTHER FUNDING

The Council on Legal Education Opportunity (CLEO) conducts summer tutorial programs each year to assist students of “low income” or “disadvantaged background” to obtain entrance into the College of Law. Those students successfully completing the program will, upon enrollment in the College of Law, be awarded an annual living stipend. For further information, students should contact: CLEO, 740 15th St. N.W., 9th Floor, Washington, D.C. 20005 or call (202) 216-4343 or www.cleoscholars.com. Minority students may also wish to contact the Earl Warren Legal Training Program, Inc., 10 Columbus Circle, New York, NY 10019 for further information concerning the availability of assistance.