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Welcome University of Virginia School of Law Students
Invest in yourself
Education is the best investment you can make in yourself. Bank of America can help you make that investment.1
Please note: Student loans may be sold for a number of reasons, including to raise funds to make additional student loans. If your loan is sold, your borrower benefits will remain the same. In addition, unless you are notified otherwise, the contact information for servicing will remain the same.
Types of loans
We have several loan types available for you.
Federal Stafford loans
Two types:
- The subsidized Stafford loan -- if UVA determines that you are eligible, based on financial need, the federal government will pay the interest payments while you are enrolled at least half time.
- The unsubsidized Stafford loan -- you are responsible for the interest payments that can be deferred while you are enrolled at least half time.
Low interest rates:
- A fixed interest rate of 6.8% on Stafford loans disbursed on or after July 1, 2007 is set by the federal government. Stafford loans disbursed prior to July 1, 2006 have an annual variable interest rate based on the 91-day Treasury bill plus a margin, set by the federal government, that will not exceed an 8.25% interest rate.2
Apply for a Stafford loan
Federal Graduate PLUS loans
Creditworthy graduate and professional students may borrow up to the full cost of their education, as determined by the school, minus expected financial aid.
- Low fixed-interest rate of 8.50% effective July 1, 2007.
- 3% origination fee will be deducted from your loan proceeds and sent to the federal government.
- Various repayment plans available. Borrowers may also be eligible to apply for forbearance for up to 48 months, or for an in-school deferment while enrolled at least half time, which enable borrowers to delay making payments until after enrollment ends. Contact your loan servicer to apply.
Borrower eligibility includes:
- Student must be enrolled at least half time in a degree program.
- Graduate or professional student and endorser, if applicable, must have a valid Social Security number, be a U.S. citizen or eligible permanent resident, and be creditworthy.
- Students may apply for a Graduate PLUS loan after the school has determined their eligibility for the maximum amount in federal subsidized and unsubsidized Stafford loans. Students don't have to accept Stafford loan funds as a condition of receiving a Graduate PLUS loan, and the school may not require it.
Apply for a Graduate PLUS loan.
GATE® (Guaranteed Access to Education) loans offer
- 0% loan fee.1
- A variable interest rate that is adjusted quarterly. The rate changes on the first day of Jan, April, July, and October. The LIBOR rate for April 1, 2008 through June 30, 2008 is 3.62%.3
- The interest rate is based on the three-month average of the one-month LIBOR rate published in the Wall Street Journal plus a margin rate. LIBOR (London InterBank Offered Rate) is one of the most widely utilized money market indices in the world.
- No payments during enrollment.
- A twenty year repayment term that consists of level monthly payments of principal and interest (please see repayment example at start of online application).
Apply for the GATE® loan
Tools, resources, special offers and online access
Previous borrowers
Check out your loan history and balances on ELMNet
Loan repayment calculator
Use our calculator to estimate what your monthly loan payments may be at today's interest rate and at projected rates.
Repayment calculator
Online counseling
If you are a first-time Stafford loan borrower, your loan counseling must be completed before you can receive your loan funds. Learn about your borrower rights and responsibilities and complete your counseling before you apply online for your Stafford loan. Exit counseling also available online.
Online counseling at Mapping Your Future.
- Lender ID:
 824421
- Guarantor Code:731
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1Programs, rates, terms and conditions are subject to change without notice. Credit subject to approval. Certain restrictions may apply. Interest rate will never be lower than 0%. 2Stafford loans disbursed prior to July 1, 2006 have an annual variable interest rate based on the 91-day Treasury bill plus a margin, set by the federal government, that will not exceed an 8.25% interest rate. The annual variable interest rates on Stafford loans from July 1, 2005 to June 30, 2006 were 4.70% while in school, during grace and deferment periods; and 5.30% during repayment. 3LIBOR is subject to change each January, April, July and October. The updated LIBOR rate should be reflected on our website by the 7th day in January, April, July and October. The LIBOR has provided exceptional stability and consistency over the past 20 years. | | |
