Federal Direct Loan Options

Federal Loans

Please review your rights and responsibilities in borrowing federal student loans in the U.S. Department of Education's Student Aid on the Web website at www.studentaid.ed.gov.

Federal Direct Unsubsidized Loan for Graduate Students

The Federal Direct Unsubsidized Stafford Loan is a federal loan borrowed directly from the U.S. Department of Education that you can use for your educational expenses.

  • Award: $20,500 per academic year **
  • Lender: U.S. Department of Education
  • Interest rate:  Based on the 10-year Treasury note index rate plus an “add-on” to be determined each year prior to July 1. For Graduate/Professional students, the Index Rate plus “add-on” cannot exceed 9.50%. 
    • The interest rate once established, will be a fixed rate for the life of the loan. For the 2016-2017 academic year the interest rate for loans first disbursed on or after 7/1/2016 and before 7/1/2017 will be 5.31%.    
    • The interest accrues once disbursed and principal and interest can be deferred while in school.   
  • Fees: 1.073% origination fee will be deducted from the gross amount of loan borrowed
  • Aggregate Loan Limit: $138,500, which includes amounts borrowed as an undergraduate
  • Grace period: 6 months after you graduate, leave school, or drop below half-time status
  • Repayment period: 10 to 25 years depending on one of the many repayment plans you can select
  • Awarded to: All eligible students
  • Estimated Repayment Calculator is located here:

              Estimated Loan Repayment Calculator                                      

 

*The Villanova University School of Law scheduled academic year usually consists of the fall and spring semesters but may also include the previous summer semester.  The scheduled academic year is a total of at least 30 weeks in length.  However, under certain circumstances, students may follow a borrower-based academic year consisting of two semesters that may not start with the traditional fall/spring term.  The decision to run loans on this schedule is made on an individual basis depending on the first term of the program you are attending.

Please review the Borrower’s Rights and Responsibilities when borrowing the Federal Direct Stafford loan.

Federal Direct Graduate PLUS Loan for Graduate Students

If you have applied for the full $20,500 in the Federal Direct Unsubsidized Stafford Loan, then you can apply for the Federal Direct Graduate PLUS Loan, which is a federal loan borrowed directly from the U.S. Department of Education that you can use for your educational expenses, including living expenses.

  • Award: Cost of attendance minus other financial aid equals maximum loan amount
  • Lender: U.S. Department of Education
  • Interest rate: Interest rate: Based on the 10-year Treasury note index rate plus an “add-on” to be determined each year prior to July 1. For Graduate/Professional students, the Index Rate plus “add-on” cannot exceed 10.50%.   
    • The interest rate once established, will be a fixed rate for the life of the loan. For the 2016-2017 academic year the interest rate for loans first disbursed on or after 7/1/2016 and before 7/1/2017 will be 6.31%.  
    • The interest accrues once disbursed and principal and interest can be deferred while in school. 
  • Fees:  4.292% origination fee will be deducted from the gross amount of loan borrowed.
  • Aggregate Loan Limit: None
  • Grace period: 6 months after you graduate, leave school, or drop below half-time status
  • Repayment period: 10 to 25 years depending on one of the many repayment plans you can select
  • Awarded to:  Students who pass a credit check who do not have negative credit history.  If adverse credit exists, borrowers may still be eligible by obtaining a qualified endorser.
  • Estimated Repayment Calculator is located here: 

               Estimated Loan Repayment Calculator [links to www.finaid.org/calculators/]

Please review the Borrower’s Rights and Responsibilities when borrowing the Federal Direct Graduate PLUS loan.

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Office of Financial Aid

Villanova University School of Law
299 North Spring Mill Road
Villanova, PA  19085-1682

Academic Year Office Hours:
Monday-Friday, 9 a.m. to 5 p.m.

Summer Office Hours:
Monday-Thursday, 9 a.m. to 5 p.m.
Friday, 9 a.m. to Noon

Email
Phone
: 610-519-7015
Fax: 610-519-6597

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