To be eligible for a federal loan, you must:

• Submit the appropriate Free Application(s) for Federal Student Aid (FAFSA) – typically, students who complete the FAFSA will be eligible for $20,500 in Federal Stafford Loans for the 2008-2009 academic year (for students entering in Summer 2008, the summer semester eligibility is $20,500 if you have not used any Federal Stafford Loan monies in the 2007-2008 academic year)
• Be enrolled at least half-time at an ABA-approved law school
• Be a U.S. citizen or an eligible non-citizen
• Have no educational loan defaults on record or owe a refund on an educational grant

Submitting the appropriate FAFSA(s):

• Summer Applicants – You must submit two Free Applications for Federal Student Aid (FAFSA). For Summer 2008 loan eligibility, submit or update the current (2007-2008) FAFSA. For Fall 2008 and Winter 2009 loan eligibility, submit the 2008-2009 FAFSA. List the University of Dayton (Federal Code 003127) so we can get the results. The FAFSA needs to be filled out annually and should be done by May 1
• Fall Applicants – Submit the 2008-2009 Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible to be considered for federal loan. List the University of Dayton (Federal Code 003127) so we can get the results. The FAFSA needs to be filled out annually and should be done by May 1

Federal Stafford Loan – Subsidized

• Awarded on the basis of financial need (as determined by your FAFSA)
• Maximum amount is $8,500 per academic year (for students entering in Summer 2008, the summer semester eligibility is $8,500 if you have not used any Federal Stafford Loan monies in the 2007-2008 academic year)
• Federal government pays the interest on this loan while you are in law school

Federal  Stafford Loan - Unsubsidized

• Award is not based on financial need
• Amount is $12,000 per academic year (for students entering in Summer 2008, the summer semester eligibility is $12,000 if you have not used any Federal Stafford Loan monies in the 2007-2008 academic year)
• Interest accrues while you are in school and is your responsibility