Federal Loans

Beginning in Fall 2026, law students entering law school (who are U.S. citizens or permanent residents) are eligible to borrow a Federal Direct Unsubsidized Loan up to a maximum of $50K per year, with a cap of $200K for professional school and a lifetime cap of $257.5K. For more details on the terms and conditions of the federal loan program, please refer to studentaid.gov.

Returning students who are continuing in an existing program of study remain eligible for new Federal Grad PLUS Loans through the end of their program of study. Eligible students must have been registered and in attendance in the spring of 2026 and have borrowed a federal student loan for their current program of study. Legacy borrowers who withdraw, take a leave of absence, or otherwise interrupt regular enrollment will lose the ability to borrow new Federal Grad PLUS loans.

Currently enrolled students are encouraged to continue with the legacy federal student loan program (Federal Direct Unsubsidized Loan and Federal Direct Graduate PLUS Loan); however, these students can also pursue a private loan option.

Federal Direct Unsubsidized

Currently Enrolled Students with loans disbursed during the 2025-2026 Academic Year - Maximum: $20,500 per academic year and aggregate maximum of $138,500 per student for all Direct (and/or previously awarded Stafford loans) for entire (undergraduate and graduate) enrollment.
New Students Enrolled with loans disbursed after July 1, 2026 - Maximum $50,000 per academic year, $200,000 aggregrate limit for professional degree, and aggregate lifetime maximum of $257,000 for entire (undergraduate and graduate or professional enrollment).
Application: apply for eligibility by completing the FAFSA.
Eligibility: no financial need test — however, Direct Unsubsidized loans may not exceed the difference between the Cost of Attendance and all other financial aid for the period of enrollment.
Interest Rate: Fixed rate of 7.94% (for academic year 2025-2026). Interest rate is established annually specific to academic year and then carries as a fixed rate for the life of the loan. Borrower is responsible for the interest that accrues while enrolled in school, either by making regular monthly or quarterly payments, or by capitalizing interest.
Fees: An origination fee will be deducted from each loan disbursement you receive and will be shown on the disclosure statement that will be sent to you. Presently this fee is set at 1.057% but may vary (based on the Budget Control Act of 2011).
Grace Period: Although the grace period and interest rate of any Stafford loan will remain in effect for those loans, any new disbursements will carry a six-month grace period.

Federal Direct Grad PLUS

Maximum: Credit worthy eligible legacy students may borrow up to the total Cost of Attendance (budget) minus any other financial aid per academic year.
Application — apply for eligibility by completing the FAFSA.
Eligibility: no financial need test — however, Direct Grad PLUS loans may not exceed the difference between the Cost of Attendance and all other financial aid for the period of enrollment.
Interest Rate: Fixed rate of 8.94% (for academic year 2025-2026). Interest rate is established annually specific to academic year and then carries as a fixed rate for the life of the loan. Borrower is responsible for the interest that accrues while enrolled in school, either by making regular monthly or quarterly payments, or by capitalizing interest.
Fees: An origination fee will be deducted from each loan disbursement you receive and will be shown on the disclosure statement that will be sent to you. Presently this fee is set at 4.228% but may vary (based on the Budget Control Act of 2011).
Grace Period: The Grad PLUS loan does not carry a grace period. However, students may request a "deferment" for up to six months post graduation to delay payment.

For Both Federal Unsubsidized Loan and Grad PLUS Loan

Beginning in Fall 2026, returning students who are continuing an existing program of study remain eligible for new Federal Graduate PLUS Loans and Federal Unsubsidized Loan through the end of their program of study. These students are considered legacy borrowers, and must have been registered and in attendance in Spring 2026 and have borrowed a federal student loan for their current program of study.
Beginning in Fall 2026, new students are eligible for a Federal Direct Unsubsidized Loan, capped at $50,000.
Deferments/Forbearance: After graduation, loan repayment can be deferred for a variety of reasons, including further study, unemployment and economic hardship. First-time borrowers will be subject to all terms and deferments that are in effect at the time their loans are disbursed. For borrowers who have any outstanding balance on a prior loan(s), the deferments that are stipulated in their original promissory note(s) will pertain to any new disbursements as well.
Documentation to Establish Loan: Students must complete the required online Entrance Interview and Master Promissory Note(s) before Federal Direct loans will be disbursed. Instructions on these requirements will be sent from Student Financial Services via the Yale Hub.