External Scholarships
EXTERNAL SCHOLARSHIPS
The following information provides links to help prospective students learn about Federal Loans and other student financial aid.
Federal Loan Programs
The Colleges of Law participates in the William D. Ford Federal Direct Loan Program, in which borrowers obtain loan funds directly from the US Department of Education. The Federal Direct Unsubsidized Loan and the Federal Direct Grad PLUS Loans both fall under this program.
- To learn more about Federal Loan Programs, click here.
- For in-depth information about federal loans, visit the Federal Student Aid website.
- Watch this informative video on Loan Repayment here. *The information and opinions expressed herein represent the independent opinions and ideas of iGrad and do not represent the opinions or ideas of The Colleges of Law.
- Loan Simulator
GI Bill® Benefits
Veterans may qualify to use GI Bill® benefits for the Master of Arts in Business Law and Technology (MBLT) program.
Please note: GI Bill® benefits are not available for the JD or JD Hybrid programs at The Colleges of Law.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at https://www.benefits.va.gov/gibill.
Federal Work-Study Program
The Federal Work-Study (FWS) Program subsidizes employment for students with financial need. The program encourages community service and work related to your course of study.
- Your hourly wage is set by The Colleges of Law as your employer; it may vary depending on the responsibilities of your position.
- Your total work-study award is based on financial need and available funding.
- Student employees are paid every two weeks.
- Students are not permitted to work more than 20 hours per week during periods of enrollment.
To find out if you are eligible for federal work-study, please complete the Student Employment Eligibility Form or contact the financial aid office at [email protected]
Eligible students may apply for any open work-study positions.
Contact Alexis Burdick, Business Manager, if you have questions regarding job announcements and hiring forums: [email protected]
Loans for International Students
Some privately funded student loans, such as those provided by eduPASS are available to non-US citizens, provided there is a co-signer who is a US citizen.
Canadian students may use both the Canada and provincial loan programs to fund their education at The Colleges of Law.
- For information on the Canada Loan program, please visit the International Student Loan website
- or the Federal Student Aid website.
Tax Credits
For further assistance, contact The Colleges of Law’s staff via email at [email protected] or call 888.308.0446.
Private Financial Aid
Understanding more about private financing options can help you determine the best course of action for funding your education.
Private Education Loan Information
Private education loans are non-federal loans issued by private banks, credit unions, and state-based agencies to help students and families cover educational costs not fully met by federal aid. These loans require a credit check, may require a co-signer, and feature fixed or variable interest rates. Private loans do not offer federal protections or forgiveness and are typically considered only after all federal aid options have been explored.
Important Considerations
Before pursuing private loans:
- Complete the FAFSA to determine your eligibility for federal grants and loans.
- Explore all federal aid options, which often offer more favorable terms and borrower protections.
- Consult reliable, independent resources, such as ELMSelect.com, to make informed decisions about loan types and lenders.
Recommended resources include:
- Federal Student Aid: Federal vs. Private Loans
A side-by-side comparison from the U.S. Department of Education, covering repayment, interest rates, borrower protections, and eligibility.
Visit Federal Student Aid - FinAid.org: Private Student Loan Guide
A student-focused guide including lender comparison tools, credit tips, application timelines, and key borrowing considerations.
Visit FinAid.org
Comparing Loan Options
| Loan Features | Federal Loans | Private Loans |
|---|---|---|
| Based on Financial Need | Yes | No |
| Requires Credit Check | No (except PLUS Loans) | Yes |
| Interest Rates | Fixed | Fixed or Variable |
| Subsidized Interest | Available (Subsidized Loans) | Not Available |
| Repayment Flexibility | Income-driven plans available | Varies by lender |
| Forgiveness Options | Yes (e.g., PSLF) | Rare |
| Deferment / Forbearance | Standardized by law | Varies by lender |
Apply for a Private Loan
If approved, follow these steps when applying for private loans:
- Research Lenders: Use independent loan comparison tools to evaluate all your private options.
- Apply Directly: Complete your application through the private lender’s website following their required steps.
- School Certification: Once approved, the private lender will contact our Registrar’s Office to certify your enrollment and cost of attendance.
- Plan Ahead: Processing private loans can take 3-4 weeks by your chosen lender. Apply early and stay in contact with your lender to avoid delays.
Eligibility Requirements
Private lenders will require the following information before issuing financial aid:
- Enrollment: You must be enrolled at least half-time in a degree-seeking program.
- Credit Check: Private lenders will assess your credit history; a co-signer may be required.
- Loan Amount: You can borrow up to the cost of attendance minus any other financial aid received.
Regulatory Transparency and Consumer Protection
The Colleges of Law complies with all federal regulations regarding private education loans by:
- Certifying any eligible private loan lender of the student’s choice.
- Ensuring no conflict of interest exists in providing lender information.
- Prohibiting co-branding with lenders (no logos, mascots, or endorsements).
- Annually reviewing student-used lenders and updating available information.
Protect Yourself From Student Loan Scams
You and your family should remain alert to scams related to financial aid and student loans. Scammers may attempt to impersonate legitimate lenders, servicers, or government agencies. You will never be asked to pay for help with federal aid.
- Tip: Be cautious of unsolicited phone calls, emails, or messages promising loan forgiveness or fast approval.
- Verify: Only use trusted sources when applying for or managing your student loans.
For more information, visit Federal Student Aid – Avoiding Scams.
Loan Simulator
Student loans may seem to be a convenient option for students, but it is important to know how loan fees and interest rates can increase your total amount owed. To better understand how much your education may cost over time, visit the loan simulator here.