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Got questions? We've got answers! Here
are many of the questions that we encounter throughout
the academic year, organized in a handful of categories:
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| What number should I enter on the FAFSA as the Federal School Code for Georgetown University Law Center? |
G21075.
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| Should I wait until I am admitted to file for financial aid? |
Although you will not be able to complete the Georgetown Institutional Aid application until you are admitted, please be sure to complete the FAFSA and, if applying for grant aid, the CSS Profile or Need Access by the priority deadline of March 1. This ensures that your application for financial aid will be considered as soon as possible after you are admitted.
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| What if I, or my parents, haven't completed our tax returns by the March 1 priority deadline date? |
Go ahead and complete the applications with the best estimate of your prior year income. Depending on what types of aid you are applying for, you may need to submit signed copies of federal tax returns to our office once they are completed. It is important to provide the most accurate information you possibly can, because the actual data may alter your eligibility once it is reviewed.
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| What is verification? What happens if my file is selected for the verification process? |
Verification is a process that provides for confirmation of the data provided on the FAFSA with actual tax data. Verification itself is a federal requirement and applications are selected by the Department of Education. If your file is selected for verification, please submit signed copies of your current federal tax returns with W-2 statements. The Financial Aid Office will notify you of any additional documentation that may be needed to complete your file.
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| Why do I have to submit a copy of my W-2 forms in addition to my federal tax returns? |
We need a copy of your W-2 forms because of the particular information they provide with regard to income earned from work and pre-tax withholdings. The regulations governing the Department of Education verification process require that we collect them for this purpose as well.
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| Should I report the total amounts accumulated in IRA and Keogh plans on the FAFSA? |
No. You do not have to include retirement plan accumulations when totaling the value of assets. However, any annual contribution must be reported since they are considered discretionary payments and are usually untaxed income.
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| I'm in the evening division, am I eligible for financial aid? |
Yes! Students in the evening division may apply for Federal Stafford Loans, Commercial and/or Graduate Plus loans and Federal Work Study to assist with both tuition and living expenses.
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| I was awarded a scholarship from a private outside organization. Do I need to inform the Financial Aid Office? |
Yes. If you let us know about your outside aid we can help you determine how the scholarship will effect your eligibility for other need-based financial aid funds. It's helpful to know this early in the process. If we find out about the outside aid when the sponsor sends your money to the Law Center, it may cause budgeting problems, especially if we have to cancel need-based aid you are no longer eligible to receive. Law Center grant recipients should review The Guidebook for more details.
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| What should I do if my federal financial aid won't cover all of my expenses? |
You can make an appointment to discuss budgeting concerns with your financial aid counselor. Requests for additional funds are generally satisfied through commercial and/or Graduate Plus loan borrowing.
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| It's the middle of the school year and I haven't applied for financial aid. Is it too late or can I still apply? |
There are priority deadlines established to ensure timely processing of financial aid requests, but students can request financial aid throughout most of the academic year. Review the rest of our web site for general guidance on financial aid and contact our office for assistance with the application process.
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Private Scholarships and Grants
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| Are there any private scholarships or grants for which I can apply? |
Georgetown Law encourages applicants to explore possibilities of private scholarships and grants available from outside sources.
Outside Scholarship Listing A FREE and current listing of "non-Georgetown" grants and scholarships compiled by Georgetown Law, for which law students can apply. This information may help you in your search for alternative resources to funding your legal education. (You will need Adobe Acrobat Reader to view this file.)
Fastweb (http://www.fastweb.com). A FREE scholarship service on the internet rumored to be one of the most extensive and up-to-date available to students. In order to register for this service, applicants are guided on-line by establishing a private "mail-box" with the service by an individual profile. As scholarships and grants are updated in their database, they will match user profiles and place the pertinent information in the mail-boxes of those that appear to fit the program.
FinAid: The Financial Aid Information Page (http://www.finaid.org/finaid.html). At this FREE site, students can find links to other scholarship search services as well as "calculators" for estimating an individual's need for financial aid. General information on the "how-to's" of applying for aid is also available and updated regularly.
Scholarship Resource Network (http://www.srnexpress.com). The SRN database concentrates on private sector, merit-based scholarship opportunities. They maintain that 80% of their scholarships do not require a student to have financial need. Although targeted primarily to undergraduate students, it may be worth a look.
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| Does Georgetown Law have a list of recommended lenders? |
Yes. The Law Center provides a list of recommended lenders, which is available online.
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| This is the first time I've borrowed loans at Georgetown Law, do I need to complete an entrance interview? |
Yes. All students are required to complete online entrance counseling.
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| If I'm eligible for a Stafford Loan how do I get that loan? |
Instructions on selecting a lender and applying for Stafford Loan eligibility will be included with your financial aid award notification. The Financial Aid Guidebook provides detailed information on the Stafford Loan process.
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| What is a commercial loan and how do I borrow one? |
Commercial loans are private loans that can be borrowed to cover educational expenses. The primary difference between these types of loan programs and federal loan programs is that they are based on your credit. Review the section on Student Loan Programs for more specific information on available loan programs application requirements.
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| What is a Graduate Plus loan and how do I borrow one? |
Graduate Plus loans are federal loans that serve as an alternative to private, commercial loans. Graduate Plus loans have a fixed interest rate of 8.5% and offer the same federal protections as the Federal Stafford Loans. Review the section on Student Loan Programs for more specific information on available loan programs application requirements.
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| What is a Federal Perkins Loan and how do I apply for one? |
The Federal Perkins Loan is a no-fee federal loan that does not accrue interest while you are in school (or in grace) and has a 5% fixed interest rate during repayment. The loan is borrowed through Georgetown University, which receives an annual allocation from the U.S. Department of Education. There is limited funding available for this loan program, therefore special application forms are required to access a Perkins Loan. Students may be eligible for Perkins Loan funding in the form of a Summer Savings Replacement Loan or a Self-Support Loan. Students interested in more detailed information should contact the Financial Aid Office directly.
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| I will be graduating or will be taking a leave of absence (greater than six months). Do I need to complete an Exit Interview? |
Yes. Conveniently, the Georgetown Law Exit Interview is available for you to complete online.
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| What is Federal Work-Study and why is it considered financial aid? |
Federal-Work Study (FWS) funds are specifically for educational expenses and the employment is directly related to student eligibility. Federal Work-Study is a program in which the Federal Work-Study funding pays 60% of your wages and the employer pays 40%. Since employers only have to pay the remaining 40% of each Work-Study student's salary, they are more likely to hire students who are eligible for this federal support. This makes it much easier for you to find employment, if you so desire. The FWS eligibility is treated as part of your current year financial aid resources. Students earn regular employment income have those earnings considered as part of the following year's financial aid budget.
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| How do I find a FWS job? |
FWS jobs are not assigned to students, rather the student selects the position for which they will apply. Law Center position openings are posted in "What's Happening", the weekly Law Center newsletter published during the Fall and Spring semesters. Also, at the beginning of each year, Main Campus provides the Financial Aid a listing of approved off-campus employers.
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| What if I decline my Federal Work-Study and later decide I want it back? |
As long as FWS program funds are still available and you have remaining financial aid eligibility, Work-Study funds can usually be reinstated. You can email the FWS account at: fws@law.georgetown.edu and your file will be reviewed for a FWS award.
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| Will my eligibility for financial aid change if I change my enrollment status? |
Yes, if you withdraw from Georgetown or change the number of credit hours for which you are enrolled your eligibility for aid will likely change as well. You should contact the Financial Aid Office to discuss how it may affect your eligibility for financial aid.
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| I've been told that I need to complete either my Entrance or Exit interviews for my student loans. How do I do this? |
You can find both the Entrance and Exit interviews online.
Entrance Interview
Exit Interview
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| I'm considering transferring from the evening division to the day division of the JD program. How will that affect my eligibility for financial aid? |
Students transferring from the evening to the day program are eligible to apply for all types of federal, private and Georgetown Institutional grant aid. Students applying for grant aid will need to complete the CSS Profile or Need Access form and submit student and parent 2006 tax returns (with W2s and schedules). The primary impact is that the cost of attendance is adjusted to reflect the full-time enrollment status. Also, students who transfer from evening to day will also be assessed a tuition equalization fee by the Office of Student Accounts that is incorporated into the financial aid budget.
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| If I take a leave of absence, do I have to begin repayment of my loans? |
The answer to this question depends on the type of loan a student has while in school. The Federal Stafford loan has a grace period of six months and the Federal Perkins loan has a grace period of nine months before repayment begins. Most commercial loan programs also have a nine-month grace period. If your leave of absence is shorter than your grace period, your grace period will be fully reinstated. If your leave is greater than your grace period, your loan may be placed into an in-school status when you return, but will not have a grace period when you ultimately graduate. NOTE: If you have borrowed a Graduate Plus loan or have a federal consolidation loan, these loans enter into repayment immediately upon dropping below a half-time status. In order to ensure that you do not go into repayment, you can ask for a "Hardship Deferment" from your lender. The Hardship Deferment form can be found on your lender's website.
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| I'm having trouble making ends meet and managing my finances. Is there somewhere I can get help with this? |
Our office provides more services than just processing financial aid applications. If you need help understanding your finances, learning money management skills, or repairing your credit, you can make an appointment with your financial aid counselor and get help with these sorts of issues. Our office also provides a "Life After Georgetown Law" session for students who are graduating to prepare them for financial success after law school.
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| What is the difference between the Financial Aid Office and the Office of Student Accounts? |
The two offices have separate administrative functions. The Financial Aid Office, located in room 335 of McDonough Hall, determines eligibility for grants, scholarships, loans, and work-study. We also provide services such as financial planning, entrance and exit interviews and other guidance related to managing your money. Student Accounts, located in McDonough Room 581, is responsible for billing and collecting payments from students for Law Center tuition and other charges. To recap, you'll want to contact:
Student Accounts: Tuition Payment, Monthly Payment Plan, Refund Requests, Refund Check Pick-Up, Stafford Loan Check Pick-Up, Commercial Loan Check Pick-Up, Your Billing Statement, Your Student Account Insurance Waiver Forms, Meal Plan, W9S Forms
Financial Aid:
Grants, Scholarships Federal Stafford Loans, Commercial/ Graduate Plus Loans, Financial Planning, Entrance & Exit Interviews, Credit Issues, Work Study, Loan Repayment Assistance Program
You can contact the Student Accounts Office at 202-662-9057 or visit them in McDonough Hall in room 581.
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| When will I receive the financial aid I have been offered? |
To obtain the funds offered in your financial aid award notice you must: (1) accept the award and follow all instructions in the award notice and return the signed copy (if you are a grant recipient) to Georgetown and; (2) complete other documents as needed to obtain funds offered, e.g., a student loan application or loan entrance interview. It can take up to six weeks to receive disbursements under some financial aid programs. Please plan ahead and enroll with sufficient funds to cover at least your first two weeks of living expenses. Financial aid is disbursed at the beginning of each semester in which funds are awarded. Please remember to direct all questions about your bill to the Student Accounts Office as the Financial Aid Office cannot assist you with billing questions. Learn more about the differences between the Financial Aid Office and Student Accounts.
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| When do I receive a bill from Georgetown and when does it have to be paid? |
You will receive a bill for the Fall semester from the Georgetown Law Student Accounts Office in early July. If you are an entering student you must respond to the bill by the specified due date, usually the third week in July. Returning students are expected to pay their tuition bill prior to fall term late registration; follow the due date on the bill. The Spring semester bill will arrive in mid-December and is payable in early January, before classes begin. Follow the due date on the statement. If you have been awarded Georgetown Law aid, or have applied for loans which have been processed by the Financial Aid Office, a temporary credit for these funds may appear on your billing statement. Please remember to direct all questions about your bill to the Student Accounts Office as the Financial Aid Office cannot assist you with billing questions. Learn more about the differences between the Financial Aid Office and Student Accounts.
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| What is an estimated credit on my Statement of Student Account? |
If the Financial Aid Office determines that you are eligible to receive financial aid, and these funds will be disbursed through an Electronic Funds Transfer, they will appear on your bill as estimated credits until actual money is received. Once all requirements for the disbursement of your financial aid funds have been met, the estimated credits would become actual credits on your bill and excess funds will be available in the form of a refund to assist you with your living expenses. Please remember to direct all questions about your bill to the Student Accounts Office as the Financial Aid Office cannot assist you with billing questions. Learn more about the differences between the Financial Aid Office and Student Accounts.
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| Does Georgetown University Law Center have a loan repayment assistance program (LRAP)? |
Yes. Georgetown has a nationally recognized loan repayment program that benefits JD graduates who enter into legally related public interest or government employment following graduation. Graduates may be eligible to receive funds, in the form of interest free forgivable loans, which assist them in paying for all or part of their monthly loan repayment obligations.
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| I keep hearing about Student Loan Consolidation. What is that and how does it affect me? |
Loan consolidation allows students to combine all of their existing federal student loans into one with a weighted average fixed interest rate. Normally consolidation isn't something that students are concerned about until graduation, as students who are currently enrolled are not generally eligible for consolidation. Our office provides annual loan consolidation updates and focuses on this topic during the Exit Counseling session you'll attend before leaving the Law Center. As a rule, if you do not know who is contacting you regarding consolidation, you may ignore the sales pitch. If you have any questions, contact the Financial Aid Office.
Learn more about consolidation.
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| Are there any helpful web sites that can assist me with financial aid, credit, tax, and other topics? |
There are a number of web sites that can help you investigate financial aid, credit, tax, and other topics, and we've collected some of the more popular ones for you below. Please note that these links are in no way associated with Georgetown Law and the maintanence of the associated webpages are the sole responsibility of the owner.
Calculators
Debt Management
Loan Repayment Calculators
Consumer Consumption Calculators
Personal Finance Tools
Credit Bureaus & Information
Credit Counseling
Other Credit Issues
Federal, State & Private Financial Aid Information
Aid Applications
Other Financial Aid Resources
Federal & State Information
International Students Resources
Loan Information for Federal & Commercial Resources
Recommended Lenders
Other Lenders
Loan Servicer Sites
Scholarship Search Services
Tax Benefits
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| I'm an international student. What are my financial aid options? |
The following publications and web sites provide valuable information on financial aid options for international students, as well as helpful tips on getting used to the U.S. way of life.
International Student Financial Aid Information. This publication has been designed to provide potential resource alternatives to non-US citizens, who are ineligible to receive Federal financial aid.
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Revised Mar. 12, 2008
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