Loans
Loans from government and private sources at low and moderate interest rates are available to qualified students. Both federal and private loans are based on the university’s estimate of your need and the overall cost of attendance. Typically, the lower interest rates are associated with federal loans; private loans can have higher (and often variable) rates. The NDLS Loan Repayment Assistance Program can also be a powerful tool to help you manage repayment of your educational debt.
Student Loan Calculator
This student loan calculator from AccessLex Institute provides a clear understanding of the costs of a legal degree, as well as available federal student loan repayment options.
Federal Loans
Free Application for Federal Student Aid (FAFSA)
Applicants interested in applying for a federal student loan must complete the FAFSA. The FAFSA is available October 1, and those who apply by February 28 receive priority processing and aid consideration. When completing the FAFSA, you will need to list Notre Dame’s Federal School Code: 001840.
Cost of Attendance
Federal guidelines require institutions to develop an annual cost of attendance, which serves as a student budget. This budget benchmarks the maximum amount of money a student should need to maintain a modest lifestyle during the academic year. Students may not borrow in excess of the cost of attendance, with very limited exceptions. The amount you may borrow is normally the difference between total estimated cost of attendance and any scholarships awarded. A student receiving no scholarship can borrow up to the full cost of attendance for an academic year, which includes cost of living expenses.
While the annual cost of attendance represents the maximum amount of aid a student may receive within an academic year, it does not necessarily reflect the amount a student actually needs. The low cost of living in South Bend allows many students to live well beneath the maximum amount allowed by the cost of attendance budget. Use our Budgeting and Smart Borrowing Tips information on our Cost of Attendance page to identify ways you can save and reduce student loan borrowing.
Federal Direct Unsubsidized Loan Program
The terms of the Federal Direct Unsubsidized Loan Program require that the student borrower repay, with interest, the loan. This program is referred to as “unsubsidized” because interest accrues (accumulates) while the student is enrolled in school. Interest on Unsubsidized Direct Loans begins to accrue after disbursement of the loan funds; however, the student may choose to have the payment of the interest deferred during enrollment and later added to principal (capitalized) at the time of repayment.
For more information visit Federal Student Aid Unsubsidized Loans.
Counseling for Understanding Student Loans
Students who borrow federal loans must complete entrance and exit loan counseling with the University. This counseling informs students of their rights and responsibilities about borrowing under various loan programs. All first-time borrowers at Notre Dame Law School who are utilizing a federal loan must complete Federal Student Loan Entrance Counseling, which provides details on what borrowing means both now and for the future.
Federal regulations require students to complete online Exit Counseling as you near degree-completion, and/or separate from the University for any reason. It is important to know who owns your loans, when your payments are due, how to make payments, and your total amount of indebtedness, all of which will help you maintain a good credit history.
Exit Counseling information and deadlines are on the Office of Financial Aid's Federal Exit Loan Counseling page.
For more information, visit the Federal Student Aid web page.
Private Loans
Students may also consider private loan programs. Such programs typically have significantly higher interest rates and should only be considered after exploring the federal loan option. The terms and conditions of these programs vary, so students should carefully review the details of each before selecting a private loan program. Please review the AccessLex “Guide to Private Student Loans” for additional considerations.
Bar Study Loans
Many students apply for loans for expenses you will incur when applying to and studying for the bar exam.
Some bar loan providers are: