FAFSA Title IV Code: 003705
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Financial Aid
Recognizing that many students are unable to pay
the full cost of their education, the College administers a financial
assistance program. The primary financial responsibility for legal
education rests with the student and/or the student's family. However,
to the extent that it can, the College attempts to bridge the gap between
individual resources and the cost of legal education by assisting students
financially.
Financial aid from the College is available in the form of scholarships,
based on demonstrated financial need and/or merit; Perkins Loans; and
College Work-Study. The possibility of receiving such aid is based on
the number of applicants with financial need, the availability of funds
and the extent of an individual's qualifications and need in comparison
to others.
Students applying for financial aid are required to file the Free Application
for Federal Student Aid (FAFSA) by February 15 of the year in which
legal studies will commence. William & Mary's Title IV code is 003705.
This FAFSA form is needed to be considered for educational loans and
need-based scholarships administered by the Law School. The results
from the FAFSA are carefully reviewed to determine the student's expected
contribution. To apply on-line visit the FAFSA web site at www.fafsa.ed.gov.
Additional assistance is available in the form of educational loans
from outside lending agencies. Stafford Loans, requiring the application
described above, are available for up to $18,500 per year. Depending
on financial need, up to $8,500 of this amount can be subsidized, with
the remainder unsubsidized. Stafford Loans can be obtained from a local
bank. Private loans, are available at a variable interest rate. Students
can borrow up to the cost of attendance minus any scholarship funds
received. For more information please visit the William
& Mary Financial Aid Office web site or call (757) 221-2420.
Standardized student budgets are distributed by the Office of Student
Financial Aid. All expenses covered must be educationally related. Examples
of estimated budgets for law students during the 2008-09 academic
year follow:
|
Virginia
Resident |
Non-Resident |
| Tuition & Fees |
$20,146 |
$30,346 |
| Living Expenses* |
$12,968 |
$12,968 |
| Books |
$1,250 |
$1,250 |
| Total |
$34,364 |
$44,564 |
* For purposes of determining loan eligibility,
no distinction is made for living expenses (room, board, and personal
items) between students living off-campus and those on-campus. However,
the average 10 month institutional Gradplex apartment charge for
2007-2008 is $4,956.
