Southwestern's Financial Aid Policy
The financial aid award package is usually comprised of a combination of loans, scholarships, and/or employment (Federal Work Study) designed to meet the student's financial needs. The financial aid programs listed in this guide are designed to supplement, not replace, the student's own financial resources.
Financial need is determined through a complex formula developed and approved by Congress in order to fairly and equitably distribute limited funds to all eligible aid applicants. This federal methodology considers the resources of the student and spouse, if married. Resources include, but may not be limited to, summer earnings, expected earnings during the school year, net assets, and the prior year's income. Allowances are made for taxes as well as standard maintenance costs of families. These resources are then subtracted from the student's cost of education to determine the student's financial need.
Southwestern strives to meet the financial aid needs of all eligible applicants. The law school offers financial aid to all students who are determined to be eligible and have met the deadlines, to the fullest availability of funds. Applications received after the deadline are packaged on a first come, first served basis.
There is a direct relationship between a student's class rank and the types and amounts of financial aid the student is eligible to receive. Funds are considered in the following priority:
- Federal Direct Stafford Student Loans
- Federal Perkins Loan (if applicable)
- Institutional Loans
- Federal Work Study
- Federal Direct Graduate PLUS Loan
- Private Loans
Questions about this policy may be directed to the Financial Aid Office.