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Financial Aid 101

What are my financial aid options?
In addition to merit- and need-based scholarships offered by Pace Law School, there are several additional resources available to students who need help paying their law school tuition. Grants are financial awards made through Pace or the government and generally do not need to be repaid. You may also be eligible for the Federal Work-Study Program, another way to help pay for school without adding to your debt. To finance the remainder of your tuition not covered by grants and scholarships, you may seek a combination of federal and private loans.

What is the first step to securing financial aid?
To be eligible for financial aid, you must fill out the Free Application for Federal Student Aid (FAFSA). Pace Law School’s code is 002727. Pace recommends that you fill out FAFSA by February 15th of the year in which you intend to enroll. That means that once you begin filling out admissions applications, you should also be filling out FAFSA and researching other financial aid opportunities. Be sure to check all aid application deadlines immediately, to give yourself adequate time to prepare all required documents and complete your applications.

How does my credit history affect financial aid?
The importance of maintaining a good credit rating cannot be underestimated. Most private lenders will not lend money to students with a low credit rating. Before applying for a private loan, you should check your credit rating by ordering a credit report, which can be requested free once a year. This will allow you to correct any mistakes and clear up any problems with your credit report. You may order a report online at annualcreditreport.com or by calling 800-682-7564.

How does financial aid affect my finances?
While attending Pace Law School and after graduation, you may be eligible for certain tax benefits. If you are a graduate experiencing difficulty paying back your student loans, you may also be eligible for Pace’s post-graduate support program. You may also apply to consolidate your loans, which allows you to lock in a low interest rate and lower your monthly payments. For more information, visit http://loanconsolidation.ed.gov.