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News
New Scholarship Created for Latin American Law Student Association Member at Touro Law
Posted On April 8, 2014
Touro Law Center is pleased to announce the Luis Pagan Leadership Scholarship, has been endowed by t... Read More
North Shore-LIJ Endows $200,000 Scholarship/Fellowship Fund at Touro Law Center
Posted On April 3, 2014
The North Shore-LIJ Health System’s Foundation and Law & Psychiatry Institute have establi... Read More
Touro Law to Commemorate Holocaust Remembrance Day
Posted On April 2, 2014
Touro Law is pleased to announce that in honor of Yom Hashoah, Holocaust Remembrance Da... Read More
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Contact Us
Address
Touro Law Center
225 Eastview Drive/Room 301
Central Islip, NY 11722
Telephone: (631) 761-7010
Fax: (631) 761-7019
admissions@tourolaw.edu

Staff
George Justice, Asst. Dean for Admissions
Susan Thompson, Director of Enrollment
Angela Nowicke, Assistant
Marie Giani, Assistant
Pat Kothe, Clerk

Federal Educational Loans (William D. Ford Federal Direct Loan Program)

The U.S. Government is the exclusive lender of record, for all federally funded student loans, effective July 1, 2010; as such these loans are fully funded by the U.S. Department of Treasury. Direct loans are low cost educational loans made available to eligible students directly from the Department of Education.  The Federal Direct Stafford Loan and the Federal Direct Grad PLUS Loan offer a number of repayment options, plus opportunities for deferment, forbearance, loan forgiveness, and cancellation (for death or total and permanent disability). Upon repayment, the loans can be consolidated with prior and future federal loans and neither loan charges a penalty for early payment. For further information on loan repayment options and loan repayment calculators go to: www.studentloans.gov 

There are two types of Direct Loans: Unsubsidized and Grad Plus.  Through the Direct Unsubsidized Stafford Loan, eligible law students may borrow up to $20,500 per academic year and up to $138,500 for all post-secondary education.  The interest rate is 6.8% and the Unsubsidized Stafford Loans carry a 1.053% origination fee which is deducted upfront from the loan proceeds.  The maximum annual Grad Plus Loan is the educational cost of attendance, as determined by the school, minus any other financial aid received.  Grad Plus Loans have no aggregate limit.  The interest rate is 7.9%  and has a 4.212% origination fee which is deducted upfront from the loan proceeds.

Loan type Fee(s)* Interest Amount Per
Academic year
Federal Direct
Stafford
1.053% 6.8% fixed Up to $20,500
Federal Direct Grad
PLUS
4.212% 7.9% fixed Up to the balance of the
cost of attendance

Federal Unsubsidized loans are guaranteed while federal Grad Plus Loans are credit-based; however, the credit score is not used in determining eligibility.  Borrowers must demonstrate that they do not have an adverse credit history.  Adverse credit history is defined to mean that as of the date of the credit report, the applicant is 90 or more days delinquent on any debt; or has been the subject of a default determination, bankruptcy discharge, foreclosure, repossession tax lien, wage garnishment, or write-off of a debt under title IV of the Act during the five years preceding the date of the credit report. Students denied a Grad Plus loan will receive notice from the Department of Education but may appeal the decision and ultimately secure the loan on either their own credit strength, after demonstrating satisfaction of debt or “good faith” payments or opt to apply with an endorser or “co-signer”.