»Loan Options

Chapman University Dale E. Fowler School of Law participates in the William D. Ford Federal Direct Loan Program.  In addition, private lenders offer loans for students not eligible for the Federal Loan Program as well as Bar Study loans.

+-Federal Direct Stafford Loans

Stafford Loans are Federal Loans available to students as a result of completing the FAFSA application.
  • $20,500 annual limit,
  • Total aggregate limit (including any undergraduate borrowing) of $138,500.
  • The maximum amount may be limited by the actual cost of attendance.
  • Borrower pays all interest, which begins accruing upon first disbursement.
  • Fixed interest rate determined each year, 2013-14 - 5.4%.
  • Up to a 1.072% origination fee to the government may be charged. These fees are deducted from the loan amount prior to disbursement. 

+-Federal Perkins Loans

  • For 2013-2014 the maximum amount awarded to Chapman students was $800.
  • The federal maximum is $5,000 annually and $30,000 cumulatively, including undergraduate and graduate combined.
  • The interest rate is fixed at 5% and does accrue during enrollment, grace and deferment periods.

+-Federal Direct Graduate PLUS

The Graduate PLUS loan is a Federal loan to help fill the gap between the total cost of attendance and the combined amount of all other scholarships, grants, federal, and institutional aid.

  • Borrowers must meet credit requirements for this loan.
  • The maximum amount is limited by the actual cost of attendance minus the combined amount of all other scholarships, grants, federal, and institutional aid.
  • There is no aggregate maximum on this loan.
  • The interest accrues while the student is in school and during grace periods and eligible deferment periods.
  • The current interest rate for 2013-14 is fixed at 6.4%.
  • Up to a 4.288% origination fee to the government is charged. These fees are deducted from the loan amount prior to disbursement.


Please note: Your credit will be pulled by the Federal Loan Processing if you are applying for the Grad PLUS loan.

Credit approval is based on federally mandated criteria, not a credit score. In order to qualify you must not have any of the following items on your credit report:

  • Any current delinquency of 90 days or more
  • Any of the following within the preceding 5 years of the date of the credit check: default, bankruptcy, discharge, foreclosure, repossession, tax lien, wage garnishment, write-off of a Title IV debt, open collection.

+-Private or Alternative Loans

Private loans are available to international students and students who do not qualify or do not wish to borrow under the Federal Loan Program.

Borrowers must qualify for private loans, with each lender determining its own borrower eligibility.

Rates, fees, and terms will vary among lenders (based on market indicators), but they will generally cost more to borrow than the Stafford or Perkins Loans. Borrowers are encouraged to compare the rates and terms of several lenders before completing an application.

Lenders require credit checks and may offer better rates to students with good credit or with cosigners. Students with questionable or bad credit may not be able to borrow this type of loan.

When considering which lender to use, interview potential lenders and ask about:

  • Fees charged up front and upon repayment.
  • The interest rate: Is it variable? Is there a rate cap (maximum rate).
  • Repayment incentives.
  • If principle and/or interest can be deferred, and for how long.
  • How often the interest is capitalized.

+-Bar Exam Loans

Bar loans are designed to help students pay for bar preparatory classes and living expenses while studying for the bar. Generally these can be borrowed during the student’s final year of study or up to six months after graduation.

Rates, fees, and terms will vary among lenders (based on market indicators), but they will generally cost more to borrow than the Stafford or Perkins Loans. Borrowers are encouraged to compare the rates and terms of several lenders before completing an application.

Lenders require credit checks and may offer better rates to students with good credit or with cosigners. Students with questionable or bad credit may not be able to borrow this type of loan.

When considering which lender to use, interview potential lenders and ask about:
  • Fees charged up front and upon repayment.
  • The interest rate: Is it variable? Is there a rate cap (maximum rate).
  • Repayment incentives.
  • If principle and/or interest can be deferred, and for how long.
  • How often the interest is capitalized.
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Disbursements

Typically, loan payments are made during the first two weeks of the term.  For more information...

Contact Us

for more information contact the Fowler School of Law Financial Aid Office.