Students wanting to apply for federal loans must submit the Free Application for Federal Student Aid (FAFSA). Students are strongly encouraged to complete the FAFSA on the World Wide Web at http://www.fafsa.ed.gov/ . Processing time is much faster when the application is completed on-line. Previous federal aid applicants/recipients can complete a Renewal FAFSA on-line at the same Web site. Because the Renewal FAFSA contains preprinted information that was previously reported for the academic year, it is faster and easier to use. To complete a Renewal FAFSA on-line, a personal identification number (PIN) is required. If you have received your PIN, use that to complete the Renewal FAFSA. If you have not received a PIN, you can request a new PIN or a copy of a PIN at http://www.pin.ed.gov/ . It will take 7-10 days to receive your PIN via U.S. mail once the request is made. If necessary, paper copies of the FAFSA are available in our Financial Aid Office or by calling 1-800-433-3243. Students should request that a copy of their FAFSA financial aid report be released to Mississippi College School of Law, Code E00479. You must include the Law School's code on the FAFSA form; otherwise we will be unable to access the information you provide. Be sure to retain a copy of the report for your records.

Law students are eligible to receive a maximum of $20,500.00 per year in federal student loans. On a general basis the student loans are divided as follows:

Subsidized Loans = $8,500.00 No interest while in school
Unsubsidized = $12,000.00 Interest begins when loan is taken out, but can be deferred until repayment begins.

There are exceptions to where a student might receive the total amount in unsubsidized loans, or less than the general amount in subsidized loans and more than the general amount in unsubsidized loans. Scholarships and other aid might affect the amount of federal loans a student can receive. Enrollment period might have an affect on eligible amount as well.

Disbursement of funds will be equally divided based on period of enrollment. If students are attending Fall and Spring, they will receive half each semester. If they are attending Summer/Fall/Spring, they will receive the loans in thirds. Since Summer costs are significantly less than the other terms, we advise you to budget carefully in order to maintain sufficient funds for the remainder of the academic year. Funds will be short in the Fall and Spring if overage from the Summer is not used to apply to these terms.

Stafford Loan Lenders and Application Process

GradPLUS Loan Lenders and Application Process