Scroll down for detailed information on the following student loan programs:

• Federal Stafford Loan
• Federal Graduate PLUS Loan
• Cardozo YU Loan 
• Bar Loans
• Private Loans

William D. Ford Direct Loan Program

Federal Stafford loans do not require a credit check, and include benefits such as a fixed interest rate, six month grace period, deferment options, and a variety of repayment and forgiveness options to help you succeed in repayment.

Eligible students can take out a Federal Stafford Loan to help cover the cost of their education. The loan limit is set by the Department of Education at $20,500 per academic year. *(see below under Step 2 for more details)

You must have completed a FAFSA and received a Student Aid Award Letter from the Office of Student Finance before you can accept your Stafford loan!

*PLEASE NOTE* - Federal student loans can only be administered during the current academic year! Eligible students can receive federal students up to the last day of the academic year!

Terms

• Unsubsidized: As of July 1, 2012, graduate students are eligible to receive only unsubsidized Stafford loans! Subsidized Stafford loans are no longer available to Graduate Students.
• In-School Deferment.

Interest

PLEASE NOTE: Due to the CARES Act, federal student loan interest rates are currently set at 0%, effective March 13, 2020 - September 30, 2021! This provision overrides the previously set federal loan interest rates, as indicated below. 

• Interest Rate: Stafford loans disbursed on or after July 1, 2020 through June 30, 2021, will have a fixed interest rate of 4.30%.
• Interest begins accruing at disbursement.
• Stafford loans disbursed during the specified dates above will be fixed for the life of the loan (during school and repayment).
• Interest rates are scheduled to reset every July 1st based on the 10-Year Treasury Note Index plus a set add-on.

Origination Fee

• Origination Fee: A 1.057% fee is deducted by Direct Loans on any new loan disbursed on or after October 1, 2020 through September 30, 2021. Example: a $20,500 Stafford loan will net $20,283. Please keep this fee in mind while budgeting! To use Cardozo's origination fee calculator, click HERE (Please Note: You will need Adobe Acrobat).

Repayment

• Repayment: Automatic 6 month grace period following graduation. Borrowers will have several federal repayment plan options, including Income Driven Repayment, as well as loan forgiveness opportunities through the Public Service Loan Forgiveness program and Cardozo's LRAP.

Eligibility

Unlike the federal Graduate PLUS loan, the Stafford loan does not require a credit check.

Please note the following:

• Students are required to be enrolled in at least 6 credits per semester (Half-Time Status) while in a degree seeking program.
• Students must meet the citizenship requirement (U.S. Citizen or Permanent Resident).
• Students can not currently be in default on any federal student loan!
• You must have completed a FAFSA and received a Student Aid Award Letter from the Office of Student Finance before you can accept your Stafford loan.

Reference

For helpful information on budgeting, loan repayment, and other important details, please visit Cardozo's Debt Management website.

ACCEPTING THE STAFFORD LOAN: 

• Eligible students currently enrolled during the spring '21 semester can proceed with applying for a 2020-2021 Stafford loan.
• Eligible students who will be enrolled during the summer '21 semester (May-Entry JDs) and the forthcoming fall '21 and spring '22 semesters (All Levels: JD, LLM, & JSD), can proceed with applying for a 2021-2022 Stafford loan. DO NOT apply for the Stafford loan until you have filed your 2021-2022 FAFSA and received an official 2021-2022 financial aid award notification from Cardozo's OSF.

To accept your Stafford loan, please complete the following steps:

STEP 1: Click HERE to sign in and complete the following requirements with the Department of Education:

• Entrance Counseling
• Master Promissory Note

First time Stafford loan borrowers are required to complete the Entrance Counseling and Master Promissory Note. A completed Entrance Counseling satisfies the federal requirement for the Stafford and Graduate PLUS loan! If you have completed a Stafford Loan MPN with Department of Education within the last 10 years, you may not be required to complete a new MPN. It is your responsibility to check with the Department of Education. Your Stafford loan cannot be officially processed until these requirements are completed!

STEP 2: Please complete the online Cardozo Federal Stafford Loan Request Form by clicking HERE.  

Refer to your financial aid award account in Inside Track to determine your eligible Stafford loan amount. Additionally, refer to the Tuition and Expenses section of the website for Cardozo's estimated cost of attendance. Continuing students can view their financial aid account and cost of attendance budget on Banner Self-Service: https://insidetrack.yu.edu/.  Please use Cardozo's Student Loan Origination Fee Calculator by clicking HERE (Please Note: You will need Adobe Acrobat). Your Stafford loan can not be officially processed if any of the required steps (as indicated above) are not completed!

Please Note: generally, eligible students can only receive half of their annual Stafford allotment per semester. For example, students who are eligible to receive $20,500 for an academic year, should be able to receive $10,250 per semester. When applicable, eligible students who are completing their final semester prior to graduation and/or if it is the final semester of the academic year, can receive more than half of the Stafford loan as long as more than half of the yearly allotment is still available to borrow. 

If you have any questions, please contact the Office of Student Finance: clfinaid@yu.edu or 646-592-6249

William D. Ford Direct Loan Program

Students are eligible to borrow Graduate PLUS loans up to the cost of attendance less any other financial aid received. The Graduate PLUS loan has a fixed interest rate and no aggregate limits. A credit check is required in order to be eligible for this loan. The credit criteria is less stringent than with most private student loans. If you don't meet the credit requirements, you can still obtain the loan with an endorser who does meet the credit requirements. 

To help determine the amount that you may need to apply for, please refer to your financial aid award letter and the Tuition and Expenses section of the website for Cardozo's estimated cost of attendance. Continuing students can view their financial aid account and cost of attendance budget on Banner Self-Service:  https://insidetrack.yu.edu/. Please use Cardozo's Student Loan Origination Fee Calculator by clicking HERE (Please Note: You will need Adobe Acrobat).

Applicants are required to accept their annual Stafford loan maximum eligibility BEFORE applying for a Graduate PLUS loan!

*PLEASE NOTE* - Federal student loans can only be administered during the current academic year! Eligible students can receive federal students up to the last day of the academic year!

Terms

• In-School Deferment.

Interest

PLEASE NOTE: Due to the CARES Act, federal student loan interest rates are currently set at 0%, effective March 13, 2020 - September 30, 2021! This provision overrides the previously set federal loan interest rates, as indicated below. 

• Interest Rate: Graduate PLUS loans disbursed on or after July 1, 2020 through June 30, 2021, will have a fixed interest rate of 5.30%.
• Interest begins accruing at disbursement.
• Graduate PLUS loans disbursed during the specified dates above will be fixed for the life of the loan (during school and repayment).
• Interest rates are scheduled to reset every July 1st based on the 10-Year Treasury Note Index plus a set add-on.

Origination Fee

• Origination Fee: A 4.228% fee is deducted by Direct Loans on any new loan disbursed on or after October 1, 2020 through September 30, 2021. Example: a $15,000 Graduate PLUS loan will net $14,365. Please keep this fee in mind while budgeting! To use Cardozo's origination fee calculator, click HERE (Please Note: You will need Adobe Acrobat).

Repayment

• Repayment: Automatic 6 month grace period following graduation. Borrowers will have several federal repayment plan options, including Income Driven Repayment, as well as loan forgiveness opportunities through the Public Service Loan Forgiveness program and Cardozo's LRAP.

Credit Requirement

Unlike the Stafford loan, the Graduate PLUS loan requires a credit check.  If the credit is approved by the Department of Education, it will remain valid for 180 days. To determine eligibility for the Graduate PLUS loan, your credit report cannot reflect any of the following:

• One or more debts with a total outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off as defined in the regulations during the two years preceding the date of the credit report.
• Debt discharged in bankruptcy during the past five years.
• Evidence of a default, foreclosure, repossession, tax lien, wage garnishment, or write-off of a Title IV debt during the past five years.

What if your credit is denied?

If your credit is denied, you will be immediately notified by Direct Loans through the online application process. You will also receive notification from the Direct Loan Servicer (via email and mail). If you would still like to pursue obtaining a Graduate PLUS loan, please choose from the following options:        

• You may try to have a credit status override completed by the servicer. Please contact the Direct Loan Servicer at 1-800-557-7394 and Equifax (their credit bureau) at 1-800-685-5000.
• You may provide documentation to the Direct Loan Servicer if you have extenuating circumstances. Your request for a Grad PLUS will be reviewed again by the servicer.
• You may have a third party endorser co-sign the Grad PLUS application with you. In this case, please contact the Direct Loan Servicer at 1-800-557-7394. 
• If your credit was originally denied, and then your Grad PLUS was approved by any of the three methods above, you will be required to complete an additional PLUS Counseling by visiting HERE. Log in and click on the "Complete PLUS Counseling" link.

APPLY FOR A FEDERAL GRADUATE PLUS LOAN: 

• Eligible students currently enrolled during the spring '21 semester can proceed with applying for a 2020-2021 Graduate PLUS loan.
• Eligible students who will be enrolled during the summer '21 semester (May-Entry JDs) and the forthcoming fall '21 and spring '22 semesters (All Levels: JD, LLM, & JSD), can proceed with applying for a 2021-2022 Graduate PLUS loan. DO NOT apply for a Graduate PLUS loan until you have filed your 2021-2022 FAFSA, received an official 2021-2022 financial aid award notification from Cardozo's OSF, and accepted your 2021-2022 Stafford loan.

To apply for a Graduate PLUS loan through the Direct Loan program, please complete the following steps:

STEP 1: Click HERE to complete your Graduate PLUS Loan Application

• Sign In
• Click on the "Request a Direct PLUS Loan" link
• Scroll down and click on the "Graduate PLUS" link
• Complete the Graduate PLUS Loan Application
• Applicants must include a dollar amount on the Graduate PLUS loan application! Select the "I would like to specify a loan amount" option, and then input the amount that you would like to borrow within the "Loan Amount Requested" box. DO NOT select the "maximum Direct PLUS Loan amount" option! To help determine the amount that you may need to apply for, please refer to your financial aid award letter and the Tuition and Expenses section of the website for Cardozo's estimated cost of attendance. Continuing students can view their financial aid account and cost of attendance budget on Banner Self-Service: https://insidetrack.yu.edu/. Please also use Cardozo's Student Loan Origination Fee Calculator by clicking HERE (Please Note: You will need Adobe Acrobat).
• Complete all of the required fields and submit the application
• Do Not Log Out of the studentloans.gov website! Proceed to Step 2!

STEP 2: If your Graduate PLUS Loan Application is approved by Direct Loans, then proceed with completing your Graduate PLUS Loan Master Promissory Note on the studentloans.gov website. PLEASE NOTE: If you have completed a Graduate PLUS Loan MPN with Direct Loans within the last 10 years, you may not be required to complete a new MPN. It is your responsibility to check with Direct Loans. This does not apply to any student who received a Graduate PLUS loan with an endorser. Endorsed Graduate PLUS loans require a new MPN for every new loan!

• Click on "My Account" on the left hand side of website
• Click on the "Complete Master Promissory Note" link
• Click on the "Graduate PLUS" link
• Complete the Master Promissory Note

STEP 3: If your Graduate PLUS Loan Application is approved, you will receive an email notification from Direct Loans containing the following subject line: "PLUS Loan Request Confirmation". You are REQUIRED to forward that email to the Office of Student Finance at clfinaid@yu.edu in order for your Graduate PLUS Loan to be officially processed.

**Applicants are required to accept their annual Stafford loan BEFORE applying for a Graduate PLUS loan! If you have not accepted your Stafford loan on Cardozo's website, do not proceed with completing the Graduate PLUS loan application! Please click HERE and accept your Stafford loan. Once you have accepted your Stafford loan, you can proceed with completing the Graduate PLUS loan application!     

If you have any questions, please contact the Office of Student Finance: clfinaid@yu.edu or 646-592-6249.

Eligibility for Cardozo's institutional YU Loan is based on financial need, academic standing, and availability of funds. All J.D. students who file the Free Application for Federal Student Aid (FAFSA) or complete the International J.D. Student Financial Aid Application are considered for these loans.

Terms:

• Interest free while the student is in school and during the 9 month grace following graduation
• Interest Rate: Fixed 5%
• Interest will start accruing once the student enters active repayment (approximately 9 months following graduation)
• Repayment may be up to 10 years

Please Note: The Cardozo YU Loan is an institutional loan, provided to eligible students by Yeshiva University. This loan is not a federal loan, and therefore would not be eligible for any federal loan repayment programs or federal forgiveness programs. This loan cannot be consolidated with federal loans or with other types of private loans.

ACCEPTING THE CARDOZO YU LOAN: 

To accept the Cardozo YU loan, please complete the following steps:

STEP 1:

• Log into your Inside Track account: https://insidetrack.yu.edu/
• Under "Students", click on "Cardozo School of Law"
• On the right-hand side of the page, under "Student Aid", click on "Financial Aid Awards"
• Select the appropriate academic year, and click "Submit"
• Click on the "Accept Award Offer" tab
• Locate your Cardozo YU Loan, and then within the Accept Award column, click on the "Select Decision" drop down box, and select "Accept"
• Click "Submit Decision" 

Please Note - these steps ONLY pertain to the Cardozo YU Loan. To accept / apply for a federal Stafford or Graduate PLUS loan, please be sure to follow the specified step-by-step instructions in the appropriate loan sections above. 

STEP 2:

After completing STEP 1, you will receive an email prior to the start of the fall semester (in August) from Heartland ECSI (Yeshiva University's loan servicer) which will direct you to complete your electronic promissory note and entrance counseling on Heartland ECSI's website. Please be sure to complete ALL of the required steps as directed by Heartland ECSI.

DISBURSEMENT:

If you complete Steps 1 & 2 prior to the start of the appropriate semester, the semester portion of your Cardozo YU Loan should disburse to your Cardozo tuition account approximately one week prior to the start of that semester. If you complete Steps 1 & 2 after the semester has commenced, the semester portion of your Cardozo YU Loan should disburse to your Cardozo tuition account within approximately 3 business days.

Some private educational loan lenders offer Bar Exam Loans, which are designed to help cover costs pertaining to Bar Review courses, Bar application fees, and other related expenses.  Graduating J.D. and LL.M students may consider applying for a Bar Loan if these related expenses cannot be covered by other means. The Office of Student Finance recommends that interested students first review their financial aid account with our office before applying for a Bar Loan.  Approval of a Bar Loan is determined by the private loan lender, and is based on the results of a credit check. 

Important Information:

Borrow up to $15,000 (maximum amount - check with lender!)

Must be creditworthy

Disbursements are sent directly to the borrower

Please Note: a Bar Loan is not a federal loan, and therefore would not be eligible for any potential federal loan forgiveness or federal repayment options! Please contact us if you have any questions.

Lender Options: 

Please feel free to search online for various lender options. It's very important to compare the loan terms between each lender before applying! Terms to keep in mind: credit requirements, interest rates, fees, and repayment options.

Cardozo School of Law / Yeshiva University does not have a Preferred Lender List for private student loan options. Our institution is not affiliated with any private student loan lender or product.

Interested students can search for various private student loan products by using Google or any standard online search engine. 

Please contact Cardozo's Office of Student Finance for any questions: 646-592-6249 or clfinaid@yu.edu