Most students finance their graduate education through a combination of loans and grants. Financial assistance issued by the school includes grants, scholarships, loans, and work.
UC Hastings offers a number of merit and need-based scholarships to both admitted and continuing students. Every admitted student receives consideration for a scholarship. Continuing students have opportunities to apply for a variety of institutional and private scholarships throughout the year. Check out our scholarship web page and database of private scholarship opportunities (click here) .
Grants off-set enrollment fees and are awarded based on financial need. They do not have to be repaid. UC Hastings offers a generous grant program. Grants for 2014-15 are $13,000 per recipient.
An aid package will include loans. Some loans are need-based while others are credit-based.
Federal Direct Subsidized Stafford Loans are no longer available for graduate and professional students effective July 1, 2012. The Budget Control Act of 2011 passed by Congress and signed President Obama eliminates the subsidy for graduate and professional students and moves this funding to Pell Grants for undergraduate students.
Federal Direct Unsubsidized Stafford Loans are not restricted to financial need, nor are they dependent upon good credit. An American citizen, permanent resident, or eligible non-citizen who has not defaulted on a student loan can borrow up to $20,500 per year through this program. Borrowers pay a fixed annual interest rate of 6.8% for loans first disbursed prior to 06/30/13. Loans first disbursed on or after 07/01/2013 are market based and locked in at fixed rates for the life of the loan. For the 2014-15 academic year, the interest rate is 6.21%. The Department of Education will withhold a percentage of the loan in required origination and default fees.
Federal Perkins Loans are awarded to a limited number of students with the greatest financial need. These loans average $2,000 per academic year at UC Hastings and have a fixed interest rate of 5%. This program is scheduled to expire after the 2015-16 award year.
Federal Graduate PLUS (Grad PLUS) Loans, and Alternative (commercial) loans are credit-based. Many students find these loans are a necessity. Therefore, students are encouraged to take immediate action to resolve adverse credit issues because they will affect your ability to obtain loans. Please take the time to access and review a free credit report.
Law students are not permitted to work during the first year. Federal Work-Study is available for students beginning the summer after the first year. Federal Work-Study is a form of federal need-based aid used to subsidize wages for students employed on-campus or at off- campus non-profit organizations and government agencies.