Types of Financial Aid
1. Scholarships
A variety of financial aid options are available, including a range of scholarships. Stetson awards multi-year scholarships to selected entering law students. All admitted students are considered for scholarships; no special application is needed.
Scholarships are awarded based on academic excellence, a range of personal accomplishments and experiences, and the ability to further the mission of the College of Law. Applicants who wish for their unique circumstances and backgrounds to be considered should include an addendum with their application.
For a list of all the scholarships that Stetson University College of Law offers please visit our Stetson Scholarships, Graduation Awards, Fellowships and Assistantships page. For a list of outside scholarships you might qualify for, please visit our Scholarships - Outside Opportunities page.
2. Federal Student Loans
There are two types of Federal Student Loans you can receive while attending Stetson Law. The first are Federal Direct Stafford Loans which are Title IV-based federal loans. Federal Stafford Loans are available to eligible law students who apply for federal aid using the Free Application for Federal Student Aid (FAFSA). Students may qualify for up to $10,250 every semester. The interest rate is fixed at 6.8 percent. Direct Loans charges a 1 percent loan origination fee. Borrowers receive a six-month grace period, following graduation or withdrawal, before repayment begins.
The second type of loan you could qualify for are Direct Graduate PLUS Loans, which are credit-based loans under Title IV. A student may borrow up to the cost of attendance, minus the Stafford Loan. The interest rate is fixed at 7.9 percent, and the loan has a 4 percent origination fee. This fee is kept by the banks for processing the loan. There is no grace period on this loan; however, Direct Loans grants an automatic six-month deferment.
Note: In some circumstances, the inability to borrow Graduate PLUS loans due to negative credit will affect your ability to finance your legal education. The law school doesn't have the resources to lend money to students who cannot obtain Graduate Plus loans. Please review your credit report to correct any errors or make plans to get caught up on delinquent accounts. You may also wish to secure a cosigner or co-endorser for this loan.
Loan Terms, Sample Repayment Schedule, Repayment Obligations, Interest Rates and Origination Fees
Federal student loans must be repaid. Students should read about the loan terms and conditions, repayment options and obligations associated with borrowing federal or any other type of loan. The Federal Student Aid sites have the best information for student borrowers:
Sequestration Impacted Title IV Student Financial Assistance Programs (Direct Loans)
Please note: The terms of the sequester increases the loan fees charged to Direct Loan borrowers effective March 1, 2013.
- the Direct Unsubsidized Loan origination fee has increased from 1.0 percent to 1.051 percent;
- the Direct Graduate Plus Loan origination fee has increased from 4.0 percent to 4.204 percent.
Those students who have loans disburse after March 1, 2013 will be contacted via email or letter by the Department of Education as notification of these changes. All students borrowing summer aid will be affected by these changes. You have the option to cancel or reduce your loan through correspondence to our office at finaid@law.stetson.edu or 727.562.7813. If you do not contact us to cancel or reduce your loan you will be agreeing to these higher fees.
Borrowers are obligated to complete the following before receiving financial aid at Stetson Law:
- Entrance Counseling: All first-time borrowers at Stetson Law must complete online entrance interviews regarding their rights and responsibilities as Federal Direct Loan borrowers. Entrance counseling will also be completed in person at during mandatory sessions at Orientation. NOTE: Federal regulations further require all borrowers to complete Federal Direct Stafford Loan Exit Counseling before they graduate, withdraw, or drop below half-time enrollment. Federal Direct Loan Exit counseling will be completed online and in person prior to graduation. Students will be notified when it is time to complete Exit Counseling.
- Master Promissory Note(s)
- Terms and Conditions of Receiving Aid: Completed on Banner Web after aid award emailed to student.
3. Other
There are other ways to fund your law school education apart from scholarships or loans. You can also fund your education through a 529 plan or Bright Futures.