Financial Aid Through the School of Law

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Many options exist to manage the cost of attending law school. Students typically rely on a combination of loans, grants, financial assistance from families and their own savings to pay for law school. The Financial Aid Office assists each student in determining appropriate sources to obtain sufficient funding to bridge the difference between the cost of attending Hofstra and each individual’s available resources. Financial aid may be awarded in the form of scholarships, grants and/or loans. All such awards are offset against tuition. Hofstra University School of Law distributes financial aid to all eligible students. As a result of the heavy demand for financial aid, an applicant should not expect (regardless of need) that the School of Law would provide total support for the tuition and/or living expenses of any individual student.

Steps to Apply for Financial Aid:

1. File a Free Application for Federal Student Aid (FAFSA). This application form determines eligibility for federal loans. To apply online, visit www.fafsa.ed.gov. Hofstra University School of Law code is 002732.
2. Need-Based Institutional Aid-Complete the Institutional Aid Application, which is available at the Law School’s Office of Financial Aid or can be downloaded from our Web site at www.hofstra.edu/Academics/Law/law_financialaid.cfm.
3. Respond to your Financial Aid Assistance Award Notice.

Important Things to Know

1. The FAFSA should be filed (www.fafsa.ed.gov) as early as possible in the admission process so that, if a favorable admissions determination is made, the financial aid application can be reviewed promptly. After the FAFSA is filed and the student has paid his or her acceptance deposit, information from the FAFSA will be downloaded. Each student will be notified as to their eligibility for institutional funds, federal loans and private loans in the Financial Aid Notification.
2. Filing the FAFSA does NOT constitute applying for a loan. Loan applications can be obtained and filed online or completed on paper. Loans must be certified by Hofstra University.
3. Financial aid is contingent upon maintaining satisfactory academic progress. The qualitative and quantitative guidelines for meeting standards of satisfactory progress are listed in the Financial Aid section of the School of Law Student Handbook.

Scholarships and Grants

Merit Scholarships: Merit Scholarships are available based on past undergraduate academic performance and success on the LSAT. Notification of these awards is made at the time of admission. There are no separate forms to complete to be considered for these scholarships.

New York State Regents Professional Opportunity Scholarships: Students pursuing a career in one of several professions, including law, may be eligible to apply for New York State Regents Professional Opportunity Scholarships.

• Amounts: $1,000 to $5,000 per year.
• Eligibility: (1) full-time student; (2) New York State resident; and (3) U.S. citizen or qualifying non-citizen.
• Selection is based on the following priorities: Those who are economically disadvantaged and a member of a minority group that is historically underrepresented in the chosen profession; graduated from the Opportunity Programs SEEK, College Discovery, EOP or HEOP.
• Service Obligation: Upon completion of study, you must work as a licensed professional for one year for each annual payment received. Employment must be in the studied profession and must be in New York state. If you do not begin to practice within one year of program completion, you will be required to repay twice the amount of all scholarship monies received plus interest. The application deadline is May 1 prior to the August through May academic year.

To apply and for further information, contact: N.Y.S. Education Department, Scholarship Office, Education Building, Rm. 1078, Albany, NY 12234. Call (518) 486-1319; or visit www.highered.nysed.gov/kiap.

Hofstra University School of Law Grants: You must apply through the Institutional Aid Application. Funds are limited and the competition is intense, so please file early. These funds are need-based and awarded until expended.

New York State Tuition Assistance Program (TAP) (Awarded by New York State): If you are a NY State resident you will receive a TAP application after filing your FAFSA. You must directly apply for this award.

Eligibility: New York state residents who are in fulltime attendance at colleges or universities located in the state of New York.

Awards: Range from $75 to $550 per year based on New York state net taxable income. Visit www.hesc.com for more information. Hofstra University School of Law code for the TAP application is 5268.

Loans

Federal Family Education Loan Program (Stafford Loans): By filing a FAFSA, a student may become eligible for up to $18,500 per year in Stafford Loans (91 day T-Bill rate + 1.7%, capped at 8.25%). Loans can be off e red up to $8,500 subsidized (the government pays the interest while the student is in school) and an additional $10,000 unsubsidized (student is responsible for the interest, deferrable while in school). Loans may be capitalized while the student is enrolled at least half time.

Federal Perkins Loan Program:

• Lender: Hofstra University
• Interest Rate: 5% per annum
• Fees: 0%
• Grace Period: 9 months following graduation, withdrawal, exclusion or dropped to less than halftime status
• Repayment Period: up to 10 years
• Awarded to students with exceptional need on a first-come, first-served basis.

Hofstra University School of Law Loans

• Lender: Hofstra University School of Law
• Interest Rate: 7%
• Fees: 0%
• Grace Period: 9 months following graduation, withdrawal, exclusion or dropped to less than halftime status
• Repayment Period: up to 5 years
• Awarded to students with exceptional need on a first-come, first-served basis.

Private Alternative Educational Loans: Private loans can be used to supplement educational charges and to offset living expenses. Private loans require a credit check. To access information regarding various private loans, please visit our Web site at www.hofstra.edu/Academics/Law/law_financialaid.cfm

Federal College Work-Study Program (CWS): The College Work-Study Program provides funds for jobs for students who have financial need and must earn educational expense. A student must be be determined as eligible for this program. Eligibility is determined by filing FAFSA. Incoming first-year law students are strongly discouraged from participating in this program due to the rigors of a first-year academic schedule.

Veterans’ Benefits: Funds for educational purposes are available to veterans of the armed forces. Hofstra School of Law is approved by the New York State Education Department for the Training of Veterans. Information can be obtained from the veterans’ representative at Hofstra University at (516) 463-6838, Monday-Friday, 9 a.m. - 2 p.m.

VESID - Vocational and Educational Services for Individuals with Disabilities: VEISD is a New York State office that works with students and families to coordinate appropriate services for students with disabilities. For application and information regarding grants, please contact: www.vesid.nysed.gov. or call (516) 483-6510.

Payment Options

Deffered Payment Agreement: A student may sign a Deferred Payment Agreement with the Office of Student Accounts, to defer up to a maximum of 50 percent of outstanding charges owed after the deduction of proven financial aid. For Law School students, the amount deferred cannot exceed a maximum of $5,000. A student-signed “School of Law Deferred Payment Agreement” must be submitted to the Office of Student Accounts along with the balance due, after the deferred amount and financial aid have been deducted. A nonrefundable fee (2 percent of the amount deferred or a minimum fee of $50) is charged for this process. The remaining balance must be paid in full by due dates stated in the agreement. You may contact the Office of Student Accounts at (516) 463-6680 for assistance and for further information regarding the use of Deferred Payment Agreements.

Monthly Payment Plan: Many students have indicated a preference to pay on a monthly basis. As an alternative, Hofstra University offers the academic Management Service (AMS) Budget Plan, which provides for payment in monthly installments. For more information, contact AMS at 1-800-635-0120.

Loan Repayment Assistance Program

The purpose of this program is to forgive a portion of the educational debt for eligible graduates who work in public interest jobs. Graduates who meet the income and employment eligibility requirements receive assistance, which at present is limited to forgiving a portion of outstanding Hofstra University School of Law loans.

Federal Financial Aid and Satisfactory Academic Progress

Pursuant to federal regulations, the Law School is required to monitor the academic progress of each student who applies for federal financial assistance, and to certify that the student is making satisfactory academic progress toward his or her degree.

For purposes of this certification, every full-time J.D. student who has: (1) successfully completed at least 10 credits each semester of enrollment at Hofstra and (2) achieved a cumulative G.P.A. of at least 2.0 by the end of the second year at Hofstra, will be considered to be making satisfactory academic progress. Every part-time J.D. student who has (1) successfully completed at least 8 credits each semester of enrollment at Hofstra and (2) achieved a cumulative G.P.A. of at least 2. 0 by the end of the second year at Hofstra, will be considered to be making satisfactory academic progress. Please note that these criteria are not identical to the residency requirements for full and part-time status at the Law School.

In addition, any full-time student who does not complete the J.D. degree within five academic years will not be eligible to receive federal financial assistance after their fifth year. Any part time student who does not complete the J.D. degree within six years will not be eligible to receive federal financial assistance after the sixth year.

Any student who is considered ineligible for federal financial assistance based on any of the above provisions may file an appeal by submitting a written petition to the chair of the Law School’s Committee on Admissions and Academic Standing, which shall make a determination in accordance with the requirements of the applicable federal regulation (34 CFR 688.34(c)). The petition must address the reasons for the student’s poor performance and/or the circumstances that necessitated withdrawal from classes, rather than the student’s need for the financial assistance.

Title IV Refund Policy for Law Students

Students who withdraw from the Law School and who have received, or were eligible to receive, funds from the Federal Perkins Loan, Federal Stafford Loan (Unsubsidized, Subsidized) Programs, are subject to federal regulations relating to the refund of Title IV aid, and to the Hofstra University ‘s School of Law refund policy for all other payments. The amount of refundable institutional charges shall follow the School of Law’s refund schedule.

Upon a student’s withdrawal during a period of enrollment in which they have begun attendance and have received federal Title IV aid, the University is required to determine the amount of earned and unearned Title IV aid. A student is only eligible to retain the percentage of Title IV aid disbursed or could have been disbursed which is equal to the percentage of the enrollment period actually completed by that student. The unearned Title IV aid must be returned to the appropriate federal aid program(s). This federal formula considers the date of withdrawal, the form of aid, and the amount of aid credited to the student or previously refunded to the student. If the student has completed more than 60% of the enrollment period, no Title IV aid needs to be returned.

Unearned financial aid dollars, which must be returned to the federal aid programs, may create a balance owed by the student to the University. Students remain responsible for such financial obligations.

In addition to the amount of federal aid that the University must return, students receiving federal aid directly from Hofstra or other sources toward other educational costs, including off-campus living expenses, may be required to repay a portion of those funds to the federal programs. Failure to return the aid to the federal aid programs may result in loss of eligibility for additional financial assistance. Federal aid funds to be returned are distributed to the programs in the following order:

Unsubsidized Federal Stafford Loans
Subsidized Federal Stafford Loans
Federal Perkins Loan
Other Title IV Programs

Example

(Dollar amounts are for illustrative purposes only).

Facts:

1. The student is a continuing law school student in her third academic year.
2. The student withdraws October 4, 2004.
3. The student was charged $15,000 for tuition and fees for Fall 2004. Federal loans awarded and applied to the students account for the semester totaled $10,000. The student paid the balance of $5,000.

Refund Result:

• 43 days (attendance) divided by 117 days (total in term) = 36.75%
• 36.75% of $10,000 would be retained onto the students account.
• 63.25% of $10,000 will be returned to the Federal Loan Program. This $6,325 must be returned to the Federal Loan Program.

Student Account:

• October 4, 2004 carries a student refund of 50%.
• 50% of $15,000 is applied as a credit to the student’s account.
• The student is responsible for a bill of $7,500.
• The student paid $5,000 and was allowed to retain $3,675 of their Total IV Loan.
• The student now has an outstanding charge of $0 on their student account and would now have a refund of $1,175 but be responsible for a loan debt of $3,675 for the fall semester.

Dean’s List : A student who has earned a yearly grade point average placing him/her within the top 15 percent of his/her class is placed on the Dean’s List for that academic year. This designation is awarded after the spring semester of each year and includes summer session grades for the preceding summer.

Graduation Honors: A graduating student with accumulative grade point average that places him/her in the top 15 percent of his/her class, with honors, as follows:

• Top 1 percent: summa cum laude
• Next 4 percent: magna cum laude
• Next 10 percent: cum laude

The Outstanding Scholastic Achievement Award is awarded to the student in each class who has achieved the highest yearly grade point average. This designation is awarded after the spring semester of each year and includes summer session grades for the preceding summer.

The Pro Bono Leadership Award is awarded to the graduating student who has excelled in serving one or more of the Law School ‘s student-run pro bono organizations in a leadership capacity.

The Pro Bono Service Award of Excellence is awarded to the graduating student who has excelled in dedication to and time spent performing pro bono service through the Law School ‘s student-run organizations and/or outside activities.

The Hofstra University School of Law First-Year Course Excellence Award is presented to the first-year students who have received the highest grade in each section of civil procedure, contracts, criminal law, torts and property.

The following prizes and awards are available annually to members of the graduating class:

The Maurice A. Deane Award is granted to the graduating student with the highest cumulative grade point average in his/her graduating class.

The Outstanding Law Student Award is awarded to the graduating student who, in his/her three years at the Law School, has shown a combination of those qualities and abilities that are the ideals of the legal profession.

The Distinguished Service to the School Award is awarded to a graduating student who has, in a variety of academic and non-academic undertakings, contributed to the progress and welfare of the school.

The Columbia Society of Real Estate Appraisers awards a cash prize to a student for outstanding performance in real estate law.

The Gina Maria Escarce Endowed Memorial Award. was established by the family and friends of the late Gina Maria Escarce, Class of 1988. The scholarship is awarded to the graduating student who has contributed most to the learning and understanding of difficult legal concepts by posing questions in class and participating in class discussions.

The American Academy of Matrimonial Lawyers Award is awarded to a graduating student for excellence in the study of family law.

The Deborah Sloyer Memorial Scholarship in Trial Advocacy is awarded to a graduating student for excellence in courses in trial and appellate advocacy.

The George and Sadie Krulik Award is awarded for outstanding performance in advanced trial advocacy.

The Judge Edward Hart Memorial Scholarship for Excellence in Trial Advocacy is awarded to a graduating student who has shown outstanding talent in the area of trial performance.

The Stephanie E. Kupferman Juvenile Justice Endowed Scholarship is awarded to a graduating student who has exhibited a commitment to protecting the rights of children and the pursuit of juvenile justice.

The Ruskin, Moscou & Faltischek, P.C. Advocacy Award is awarded for outstanding performance in the Hofstra Moot Court Seminar Competition.

The Leon Stern Award of the Criminal Courts Bar Association of Nassau County is awarded to a graduating student by the Criminal Courts Bar Association of Nassau County for excellence in the study of constitutional and criminal law.

The Benjamin Weintraub and Alan N. Resnick Bankruptcy Law Award, endowed by Charles H. Weintraub, Esq., is awarded to a graduating student who has demonstrated academic excellence and commitment to future professional contribution in the field of bankruptcy law.

Annual Graduation Awards are given for excellence in the following areas of study: advocacy and litigation, bankruptcy law, clinical law, commercial law, constitutional law, corporate and securities law, criminal law, environmental and natural resources law, estate planning law, family law, government law, health law, international law, intellectual property law, labor and employment law, procedural law, property law, tax law and torts law.