Financing 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 Perkins Loan

The Federal Perkins Loan is offered through Villanova University with government funds.  Funds are limited and  need based.  You will automatically be considered for this loan if you complete the financial aid application process.  These need-based loans will be awarded to eligible students on a first-come, first-served basis until all funds are expended.

  • Award: $5000 per academic year
  • Lender: Villanova University
  • Interest rate: 5% fixed – but the loan is interest-free during in-school and the grace period
  • Fees: None
  • Aggregate Loan Limit: $60,000 which includes amounts borrowed as an undergraduate
  • Grace period: 9 months after you graduate, leave school, or drop below half-time status
  • Repayment period: up to 10 years
  • Awarded to: Students with exceptional need on a first-come, first-served basis
  • Perkins Loan Entrance Counseling
  • Estimated Repayment Chart for Federal Perkins Loan for borrowers with $40 minimum monthly payments:
      
    Amount Borrowed        Approximate Quarterly Repayment
          $2,000                                      $120
          $4,000                                      $127
          $6,000                                      $191

Federal Direct Unsubsidized Stafford 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 2013-2014 academic year the interest rate for loans first disbursed on or after 7/1/2013 and before 7/1/2014 will be 5.41%.    
    • The interest accrues once disbursed and principal and interest can be deferred while in school.   
  • Fees: 1.051 % 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 Chart for Federal Direct Stafford Loans based on a standard 10-year repayment period with a 5.41% interest rate and no interest paid on the Federal Direct Unsubsidized Stafford Loan while in-school: 

    Amount Borrowed                              Aproximate Monthly Repayment
    $61,500                                                       $664.70
    ($20,500 per year for 3 years)                                         

*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 2013-2014 academic year the interest rate for loans first disbursed on or after 7/1/2013 and before 7/1/2014 will be 6.41%.  
    • The interest accrues once disbursed and principal and interest can be deferred while in school. 
  • Fees:  4.204% 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 Chart for Federal Direct Graduate PLUS Loan based on a standard 10-year repayment period with a 6.41% interest rate and no interest paid on the loan while in-school:  

    Amount Borrowed                                  Approximate Monthly Repayment
    $129,000                                                $1,458.87                              
    ($43,000 per year for 3 years)    

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

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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