2009-2010 Budget*
Budgets utilized by the MU Student
Financial Aid Office in determining eligibility for financial
aid include direct university charges (tuition
and on-campus room and board) and estimates of indirect
expenses (books and supplies, off-campus room and board,
personal expenses, and transportation expenses.)
| On/Off
Campus |
L1
(15+16=31hrs,9m.) |
L2
(15+15=30hrs,9m.) |
L3
(15+15=30hrs,9m.) |
| Tuition & Fees* |
$15,990 |
$15,500 |
$15,500 |
| Books/Supplies |
$1,550 |
$1,550 |
$1,550 |
| Room/Board |
$8,590 |
$8,590 |
$8,590 |
| Personal/Trans. |
$5,750 |
$5,750 |
$5,750 |
| TOTAL
MO Resident |
$31,880 |
$31,390 |
$31,390 |
| Out
of state tuition* |
$14,520 |
$14,040 |
$14,040 |
| TOTAL
Non-Resident |
$46,400 |
$45,430 |
$45,430 |
|
* The University reserves the right to increase or decrease the fees charged for attendance and other services at the University when the Board of Curators considers it in the best interest of the University to do so. Any increase in fees must be approved by the Board of Curators not less than thirty (30) days prior to the beginning of the academic term (semester, etc.) to which these fees will be applied.
Any change in fees will be effective irrespective of whether fees have or have not been paid by or on behalf of a student prior to the effective date of the modification.
Students can obtain Missouri residency after
their first year of law school. See 'Missouri
Residency Requirements'
on the School of Law web site for residency requirements.
|
Loans
(money you have to pay back)
Based on need:
Ford
Federal Direct Subsidized Loan |
- This is a loan with no interest
accruing while you are in school at least half-time.
It is "subsidized" by the federal government. Law
students can borrow up to $8500 per year. There
is a 3% guarantee fee charged by the federal government.
Repayment does not begin until six months after
graduation or withdrawal from college. The interest
rate for loans disbursed after July 1, 2006 is fixed at 6.8%. For more information check out the Ford
Federal Direct Loan Web Site. Students wanting
to be considered for this loan must submit a FAFSA.
|
Federal
Perkins Loan |
- This is a federal loan borrowed
directly from the Department of Education, based
on eligibility determined from the FAFSA.
- Perkins loans are offered to eligible students who file a FAFSA by the March 1st priority deadline. Yearly awards vary
depending on funding and are not to exceed the
$6000/yr federal maximum. The interest rate is
5% fixed, interest free while enrolled, and during
the 9 month grace period. Repayment is made to
MU.
|
NOT based on need:
Ford
Federal Direct Unsubsidized Loan |
- Unsubsidized
means the interest begins to accrue when the loan
is disbursed and eventually has to be paid by the
borrower. The interest rate for loans disbursed after July 1, 2006 is
fixed at 6.8%. The amount for which
you are eligible is $12,000/yr if you are eligible
for the full subsidized loan of $8,500/yr. If you
do not qualify for the full subsidized loan, the
sum of both the subsidized and unsubsidized will
not exceed $20,500 per year. A 3% origination fee
charged by the federal government and repayment
begins 6 months after graduation or withdrawal.
For more information check out the Ford
Federal Direct Loan Web Site. Students wanting
to be considered for this loan must file a FAFSA
to determine eligibility for the subsidized Ford
Federal Direct Loan before MU can process an unsubsidized
loan.
|
Ford Federal Direct Grad PLUS Loan |
Ford Federal
Direct Grad PLUS (Grad PLUS) are loans from the
U.S. Department of Education (ED) which provide
additional funds for educational expenses not
met by other types of aid. They enable
a graduate/professional student to borrow up
to the cost of education minus other aid.
To be eligible to receive a Grad PLUS loan the borrower
must:
1. be accepted for
enrollment in a degree-seeking program,
2. be registered at least half-time, according
to their degree program, in courses counting
toward a graduate/professional degree,
3. file a Free Application for Federal
Aid (FAFSA),
4. not be in default on any type of student
loan,
5. not owe a repayment on a student grant, and
6. pass a credit check by the U.S. Department
of Education (ED).
Graduate/professional students borrowing their first Grad PLUS will be required to sign a Master Promissory Note (MPN) and complete the Loan Entrance Counseling. Subsequent loans will not require a new MPN or Loan Entrance Counseling. After federal approval, the borrower may complete an MPN online using their federal PIN at www.dlenote.ed.gov and the Loan Entrance Counseling at the US Department of Education Website. If preferred, a paper MPN will be mailed to the borrower to sign. The borrower must request a paper MPN by calling the Student Financial Aid Office at 1-573-882-7506 or if in MO, IL or KS 1-800-225-6075.
After the borrower has satisfied all eligibility
requirements, loan money will normally be paid to
the borrower’s University account in two installments. For
specific anticipated payment dates the borrower should
refer to the Disclosure Statement they will receive
from ED. At disbursement ED calculates a 3%
processing fee but only deducts 1.5% from the disbursement
amount. If the borrower does not remain current
during repayment, the other 1.5% will be charged
back to the loan balance.
The interest rate on the Grad PLUS is 7.9%. Repayment
begins within 60 days of the final loan disbursement. Principal
and interest payments may be deferred if the borrower
meets deferment requirements. In-school deferments
are available for borrowers enrolled at least half-time
in a degree seeking program. To learn more
about available deferments and how to apply for deferment
status, please contact ED’s servicer at (800)848-0979.
09-10 Ford Federal Direct Grad PLUS Application
|
Scholarships/Grants
All need and merit based scholarships
and grants are determined and administered by the Law
School Admissions Office. An application to apply will
be sent to you upon admission. For more information
see the UMC
Law School Scholarships page or contact:
Admissions Office
103 Hulston Hall
Columbia, MO 65211
(573) 882-6042 or 1-888-MULAW4U
(573) 882-9625 (fax)
umclawadmissions@missouri.edu
Alternative
Loan Programs for Law Students
Alternative loans are educational loans from private lenders (not the federal government.) The amount you can borrow is based on the yearly cost of attendance minus other aid. Interest rates, fees, and repayment terms vary depending on lender. The lenders will do a credit check and you must meet certain credit criteria. You can not consolidate these types of loans with your federal loans. For more information on alternative loans, check out our Alternative Loans information page including our preferred lender list.
Law Bar Loan
Lender Information
Bar Exam loans are private loans available to third year law students who will be taking the Bar Exam within a year. These loans are available up to 1 year prior and 6 months after graduation. The amount you can borrow is determined by the lender, and is independent of the schools cost of attendance and other federal aid. Interest rates, fees and repayment terms vary depending on the lender. The lenders will do a credit check and you must meet certain credit criteria. Bar loans can not be consolidated with your federal loans. For more information on bar loans, check out our Alternative Loans information page including our preferred lender list.
Law Student
Checklist
Entering First-Year
Law Students (1L's)
- Get a Free Application for
Federal Student Aid (FAFSA) from the MU
Student Financial Aid Office after December 1, or
from any college or university near you. The FAFSA
may also be completed electronically from the Financial
Aid Homepage or at www.fafsa.ed.gov.
- Complete your federal income taxes.
- Complete the student portion
only of your FAFSA and mail it by the March
1 (postmarked) priority deadline. If you
have not completed your income taxes, you can estimate
your income and correct the information later on
the Student Aid Report. The FAFSA asks
for our Federal School Code which is 002516.
- Expect to receive a Student
Aid Report from the federal processor within
four to six weeks. If you do not receive it, you
can check on its status with the federal processor
at 1-800-4-FED-AID. The Financial Aid Office's you
listed on the FAFSA will receive the same information
electronically during this time.
- Upon your official admission to
MU's Law School, you will be sent a Scholarship
Application from the Admissions Office. Complete
the application and submit it to the Admissions Office
located in 103 Hulston Hall, Columbia, MO 65211 (573)
882-6042.
- Check your Student Aid Report to
make sure it is accurate. If it is not correct, make
changes on the SAR, sign it and return it to the federal
processor at the address listed on the form.
- Submit copies of your previous year's
federal tax return(s) and other forms only
if requested by the MU Student Financial Aid Office.
The federal government requires verification of randomly
selected applications.
- When you receive an award
letter from MU stating the aid for which you are
eligible, review it carefully and follow the appropriate
instructions. Award letters are
usually mailed in May to first year law students
who have met the priority deadline. Included with
your award letter will be a supplement explaining
the award letter, the financial aid process, and
your rights and responsibilities.
- If you accept your federal
loans, you are required to complete a federally mandated
one-time "Loan Tutorial" session
before your loans will be disbursed. The Loan Tutorial is available on the Student Financial
Aid web page at http://sfa.missouri.edu/Entrance_Exam/index.php.
If you are unable to access the web, please call
the Financial Aid Office.
Continuing
Law Students (2L's & 3L's)
- Get a Free Application for
Federal Student Aid (FAFSA) from the MU
Student Financial Aid Office after December 1. If
you have had aid previously, the federal government
may have mailed you a Renewal FAFSA which
you can use. The FAFSA may also be completed electronically
from the Financial Aid Homepage or at www.fafsa.ed.gov.
- Complete your federal income taxes.
- Complete the student portion only
of your FAFSA and mail it by the March 1 (postmarked)
priority deadline. If you have not completed your income
taxes, you can estimate your income and correct the
information later on the Student Aid Report. The FAFSA asks
for our Federal School Code which is 002516.
- Expect to receive a Student
Aid Report from the federal processor within
four to six weeks. If you do not receive it, you
can check on its status with the federal processor
at 1-800-4-FED-AID. The Financial Aid Office's you
listed on the FAFSA will receive the same information
electronically during this time.
- Check your Student Aid Report to
make sure it is accurate. If it is not correct, make
changes on the SAR, sign it and return it to the federal
processor at the address listed on the form.
- Second and Third year students who
did not receive a scholarship award their first year
of law school can apply for scholarships in April of
each year. The law school Admissions Office will email
students in April to pick up and complete a scholarship
form. Forms should be submitted to the Admissions Office
in 103 Hulston Hall.
- Submit copies of your previous year's
federal tax return(s) and other forms only
if requested by the MU Student Financial Aid Office.
The federal government requires verification of randomly
selected applications.
- When you receive an award letter
from MU stating the financial aid for which you are
eligible, review it carefully and follow the appropriate
instructions. Award Notices are usually
available in June to financial aid applicants
who have met the priority deadline. Included with your
award notice will be a supplement explaining the award
letter, the financial aid process and your rights and
responsibilities.
Contact Information
Jeff Turnbull
Law School Financial Aid Advisor
Email: TurnbullJ@missouri.edu
110 Hulston Hall
Columbia, MO 65211
(573) 882-1383
(573) 882-9625(fax)
Monday afternoons 1:00 p.m. to 5:00 p.m.
Thursday afternoons 1:00 p.m. to 5:00 p.m.
When not in the Law School Financial Aid Office, you may reach me by phone,
email or appointment at the main Financial Aid Office.
See address and phone numbers below.
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