Wayne State University

AIM HIGHER

Law Student Loans

Loans require repayment. Detailed information about repayment of federal loans, including borrowers' rights and responsibilities, is available in The Student Guide.

Federal Perkins Loans

A Federal Perkins Loan is a fixed, low-interest (5%) subsidized loan awarded to students with exceptional financial need.

Federal Direct Stafford Loans

Federal Stafford loans are low fixed-rate (6.8%) student loans for students who are attending school at least half time. 

Federal Direct Grad PLUS Loan

Federal Graduate PLUS loans are fixed-rate student loans for students who are attending school at least half time. A credit check is required. Students should exhaust their Federal Stafford loan eligibility before applying for a Graduate PLUS loan.

Federal Consolidation Loans

Federal Loan consolidation is a way to combine your existing federal student loans into one new loan, reducing the number of monthly bills and possibly lowering your monthly payment.

Alternative Loan Programs

Alternative Loans are credit-based, private student loans. Alternative loans generally have higher interest rates and fewer repayment options than federal loans.

Bar Study Loans

Bar Study loans are credit-based, private student loans which help finance bar exam costs, such as bar review course fees, bar exam deposits and fees, as well as living expenses.

Student Loan Repayment

Student loan repayment is important to consider when making decisions on loan borrowing.

Required Student Loan Counseling for Federal Loans

All first-time federal loan recipients are required to complete entrance loan counseling before loan funds can be disbursed. In addition, all federal loan borrowers are required to complete exit loan counseling when they graduate, leave school, or drop to less-than-half-time.