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Financial Aid Tips for Graduates

The following information should help students sort out the last necessary financial aid details before graduation. More detailed information can be found on the Graduating Students page in the Financial Aid section of the website.

Exit Counseling for Federal Loans

All graduating 3L and LL.M. students who have borrowed loans through the Federal Direct Stafford Loan Program are required to complete an Exit Counseling session. You should bring the following information with you:

• Your Driver's License (state and number)
• The name, address, and phone number for two references and your next of kin (3 different people)
• The name, address and phone number for your employer after leaving school (only if available)

Large group sessions will be offered by the Law Financial Aid Office at the following times:

• March 20 - 12:00 to 1:00pm
• March 21 - 2:00pm to 3:00pm
• March 26 - 1:00pm to 2:00pm
• April 4 - 2:00pm to 3:00pm

All sessions will be held in Room 734.

We will provide information for federal and private loans regarding loan repayment options, consolidation, and some basic debt management principles that could make your life after law school easier.

Additional sessions may be scheduled after April 4 on an as needed basis. Students do have the option of making an appointment to speak to a counselor one-on-one to get information on their personal loan repayment options.

Perkins Loan Borrowers

Perkins Loan borrowers must attend an Exit Counseling session offered by the University's Student Loan Department which are held at the end of March. Students should receive notification of the dates for these sessions. If you do not receive notification or need to reschedule, please contact the Student Loan Department at 617-353-2340. Perkins Loan borrowers who attend the Perkins Loan Exit Counseling session are not required to attend the Exit sessions conducted by the Law Financial Aid Office, although you are welcome to attend.

Bar Exam Loans

Bar Exam Loans are available to help students to cover the expenses associated with taking the bar exam - review course, exam fees, and living expenses while studying. Borrowing limits are set by the individual lenders and do not need to fit within your student budget. Student should apply directly with the lender of their choice - the funds will be disbursed directly to the student. We do suggest that students try to stay with the same lender if they have prior private loans.

Some lenders do ask the school to certify the loan - essentially, we are confirming that we expect you to graduate on your expected graduation date.

Many lenders that students have used to borrow private loans also offer bar loans - The Access Group, Citibank, Law Loans and Key Bank. MEFA and the Federal Direct Graduate PLUS Loan program do not offer bar exam loans, so those students will have to choose a new lender for their bar loan.

Debt Management Counseling

One-on-one debt management appointments may be made at any time. You should bring any information that you have concerning the amount of outstanding educational loan debt, the names of your lenders, and concerns that you have about repayment. We can assist you in determining an estimated monthly payment schedule and suggest strategies that could help you more effectively manage your student loan debt in the context of your post-graduation plans. Contact the Law Financial Aid Office at 617.353.3160.

Loan Repayment, Consolidation and Deferment

Once you have graduated, our office is certainly still available to answer questions, provide information and help you to manage the repayment of your student loans. We will post information for alumni on the financial aid pages in the alumni section of the website.