Wayne State University

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Law Student Loans

Loans require repayment. Detailed information about repayment of federal loans, including borrowers' rights and responsibilities, is available in The Student Guide.

Borrowing can be costly. We recommend that you consider borrowing only if you have exhausted all other options.

Only borrow what you need. Make a budget  to help keep your debt within manageable limits.

Federal Perkins Loans

A Federal Perkins Loan is a fixed, low-interest (5%) subsidized loan awarded to students with exceptional financial need.

Federal Direct Unsubsidized Loans

Law students are eligible to borrow only in the Federal Direct Unsubsidized Loan program and not in the Subsidized Loan program. The federal government has eliminated the in-school interest subsidy for graduate and professional students. The interest on unsubsidized loans must be paid by the borrowers. Interest payments can be deferred until after graduation. The Federal Direct Unsubsidized Loan is available regardless of need to students who are attending school at least halftime. Students may borrow up to $20,500 annually.  

Federal Direct Grad PLUS Loan

The WSU Office of Student Financial Aid will include Federal Unsubsidized Loans in financial aid award offers but will not automatically include Grad PLUS Loans.  

How to Determine Your Grad PLUS Loan Amount

CAUTION: Review your budget and borrow only the amount that you need.

How to Apply for a Grad PLUS Loan

Federal Consolidation Loans

Federal loan consolidation is a way to combine your existing federal student loans into one new loan and possibly lowering your monthly payment.

Alternative Loan Programs

Alternative loans are credit-based, private student loans. Alternative loans generally have higher interest rates and fewer repayment options than federal loans.

Bar Study Loans

Bar Study Loans are credit-based, private student loans that help finance bar exam costs such as bar review course fees, bar exam deposits and fees, and living expenses.

Students have the right to borrow from any lender and are encouraged to carefully research all available lenders.

Student Loan Repayment

Student loan repayment is important to consider when making decisions about loan borrowing.

Required Student Loan Counseling for Federal Loans

All first-time federal loan recipients are required to complete entrance loan counseling before loan funds can be disbursed. In addition, all federal loan borrowers are required to complete exit loan counseling when they graduate, leave school, or drop to less-than-halftime enrollment.

Loan reporting

Federal loan information is submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

How to check your loan history